Scotia Capital Inc. Raises Stake in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Scotia Capital Inc. increased its stake in Rocket Lab USA, Inc. (NASDAQ:RKLBFree Report) by 146.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,390 shares of the rocket manufacturer’s stock after buying an additional 24,000 shares during the period. Scotia Capital Inc.’s holdings in Rocket Lab USA were worth $223,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Chesapeake Capital Corp IL purchased a new position in shares of Rocket Lab USA during the fourth quarter worth approximately $262,000. Brown Advisory Inc. bought a new position in Rocket Lab USA in the fourth quarter worth approximately $61,000. Foundations Investment Advisors LLC purchased a new position in Rocket Lab USA during the 4th quarter worth $116,000. Fagan Associates Inc. bought a new stake in Rocket Lab USA during the 4th quarter valued at $103,000. Finally, Psagot Value Holdings Ltd. Israel lifted its holdings in shares of Rocket Lab USA by 1,044.9% in the 4th quarter. Psagot Value Holdings Ltd. Israel now owns 14,037 shares of the rocket manufacturer’s stock worth $81,000 after buying an additional 12,811 shares during the period. Institutional investors own 71.78% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on RKLB shares. Wells Fargo & Company cut their price target on Rocket Lab USA from $5.00 to $4.25 and set an “equal weight” rating on the stock in a research note on Thursday, April 4th. Citigroup reduced their price target on shares of Rocket Lab USA from $6.00 to $5.45 and set a “buy” rating for the company in a report on Tuesday, May 7th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $6.00 price objective on shares of Rocket Lab USA in a research note on Tuesday, May 28th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $7.39.

Get Our Latest Stock Analysis on Rocket Lab USA

Insider Buying and Selling

In related news, CFO Adam C. Spice sold 63,529 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $4.22, for a total value of $268,092.38. Following the transaction, the chief financial officer now owns 1,383,677 shares in the company, valued at approximately $5,839,116.94. The sale was disclosed in a filing with the SEC, which is available through this link. In other Rocket Lab USA news, General Counsel Arjun Kampani sold 29,026 shares of the stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $4.22, for a total transaction of $122,489.72. Following the sale, the general counsel now directly owns 666,121 shares of the company’s stock, valued at approximately $2,811,030.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Adam C. Spice sold 63,529 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $4.22, for a total value of $268,092.38. Following the completion of the transaction, the chief financial officer now directly owns 1,383,677 shares of the company’s stock, valued at approximately $5,839,116.94. The disclosure for this sale can be found here. Corporate insiders own 13.70% of the company’s stock.

Rocket Lab USA Trading Up 3.7 %

Shares of Rocket Lab USA stock opened at $4.44 on Thursday. Rocket Lab USA, Inc. has a 12-month low of $3.47 and a 12-month high of $8.05. The firm’s 50 day simple moving average is $4.01 and its two-hundred day simple moving average is $4.44. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.69 and a current ratio of 3.12.

Rocket Lab USA (NASDAQ:RKLBGet Free Report) last issued its earnings results on Monday, May 6th. The rocket manufacturer reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.02. The company had revenue of $92.80 million during the quarter, compared to analyst estimates of $94.98 million. Rocket Lab USA had a negative return on equity of 32.50% and a negative net margin of 64.15%. The firm’s quarterly revenue was up 69.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.10) EPS. As a group, analysts expect that Rocket Lab USA, Inc. will post -0.41 earnings per share for the current fiscal year.

About Rocket Lab USA

(Free Report)

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.

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Institutional Ownership by Quarter for Rocket Lab USA (NASDAQ:RKLB)

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