International Assets Investment Management LLC Buys 42,990 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB)

International Assets Investment Management LLC raised its holdings in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 453.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 52,480 shares of the rocket manufacturer’s stock after acquiring an additional 42,990 shares during the period. International Assets Investment Management LLC’s holdings in Rocket Lab USA were worth $290,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Avitas Wealth Management LLC grew its stake in Rocket Lab USA by 2.5% in the fourth quarter. Avitas Wealth Management LLC now owns 121,332 shares of the rocket manufacturer’s stock valued at $671,000 after acquiring an additional 2,913 shares during the period. Arizona State Retirement System grew its stake in Rocket Lab USA by 9.0% in the fourth quarter. Arizona State Retirement System now owns 74,311 shares of the rocket manufacturer’s stock valued at $411,000 after acquiring an additional 6,166 shares during the period. Raymond James Financial Services Advisors Inc. grew its stake in Rocket Lab USA by 26.1% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 86,195 shares of the rocket manufacturer’s stock valued at $477,000 after acquiring an additional 17,833 shares during the period. Raymond James & Associates boosted its position in shares of Rocket Lab USA by 10.3% during the fourth quarter. Raymond James & Associates now owns 21,825 shares of the rocket manufacturer’s stock worth $121,000 after buying an additional 2,040 shares during the period. Finally, FNY Investment Advisers LLC acquired a new position in shares of Rocket Lab USA during the fourth quarter worth about $34,000. 71.78% of the stock is owned by institutional investors and hedge funds.

Rocket Lab USA Stock Up 3.3 %

Shares of NASDAQ:RKLB opened at $3.77 on Friday. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of -9.92 and a beta of 1.17. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.13 and a quick ratio of 1.65. The business’s 50-day moving average is $4.09 and its 200-day moving average is $4.47. Rocket Lab USA, Inc. has a 1 year low of $3.47 and a 1 year high of $8.05.

Rocket Lab USA (NASDAQ:RKLB) last announced its quarterly earnings data on Tuesday, February 27th. The rocket manufacturer reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). Rocket Lab USA had a negative net margin of 74.64% and a negative return on equity of 30.54%. The business had revenue of $59.99 million during the quarter, compared to analyst estimates of $62.90 million. During the same period in the prior year, the firm earned ($0.08) earnings per share. The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. Equities research analysts predict that Rocket Lab USA, Inc. will post -0.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on RKLB. Citigroup reaffirmed a “buy” rating and set a $6.00 price objective on shares of Rocket Lab USA in a research report on Monday, February 12th. Wells Fargo & Company cut their target price on Rocket Lab USA from $5.00 to $4.25 and set an “equal weight” rating on the stock in a report on Thursday, April 4th. Finally, KeyCorp started coverage on Rocket Lab USA in a research note on Wednesday, January 17th. They issued an “overweight” rating and a $8.00 price objective on the stock. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $7.46.

Insider Buying and Selling

In related news, CFO Adam C. Spice sold 67,160 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $4.25, for a total transaction of $285,430.00. Following the transaction, the chief financial officer now directly owns 1,442,206 shares of the company’s stock, valued at approximately $6,129,375.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, General Counsel Arjun Kampani sold 31,394 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $4.25, for a total transaction of $133,424.50. Following the transaction, the general counsel now directly owns 695,147 shares of the company’s stock, valued at approximately $2,954,374.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Adam C. Spice sold 67,160 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $4.25, for a total value of $285,430.00. Following the transaction, the chief financial officer now directly owns 1,442,206 shares in the company, valued at $6,129,375.50. The disclosure for this sale can be found here. 15.00% of the stock is owned by company insiders.

Rocket Lab USA Profile

Rocket Lab USA, Inc, a space company, provides launch services and space systems solutions for the space and defense industries. The company provides launch services, spacecraft design services, spacecraft components, spacecraft manufacturing, and other spacecraft and on-orbit management solutions; and constellation management services, as well as designs and manufactures small and medium-class rockets.