Arizona State Retirement System Buys 8,589 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB)

Arizona State Retirement System lifted its holdings in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 10.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,724 shares of the rocket manufacturer’s stock after purchasing an additional 8,589 shares during the period. Arizona State Retirement System’s holdings in Rocket Lab USA were worth $2,387,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in RKLB. Citigroup Inc. raised its stake in shares of Rocket Lab USA by 46.8% in the third quarter. Citigroup Inc. now owns 691,387 shares of the rocket manufacturer’s stock worth $6,727,000 after purchasing an additional 220,432 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Rocket Lab USA by 22.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer’s stock valued at $28,006,000 after purchasing an additional 532,207 shares during the period. Geode Capital Management LLC grew its holdings in Rocket Lab USA by 12.2% during the third quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock valued at $80,317,000 after purchasing an additional 898,223 shares during the period. FORA Capital LLC bought a new position in shares of Rocket Lab USA in the third quarter worth $449,000. Finally, National Bank of Canada FI boosted its holdings in shares of Rocket Lab USA by 149.2% in the third quarter. National Bank of Canada FI now owns 50,408 shares of the rocket manufacturer’s stock worth $490,000 after acquiring an additional 30,178 shares during the period. Institutional investors own 71.78% of the company’s stock.

Rocket Lab USA Trading Down 8.9 %

Shares of RKLB stock opened at $17.12 on Tuesday. Rocket Lab USA, Inc. has a 52-week low of $3.47 and a 52-week high of $33.34. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58. The firm has a market capitalization of $8.56 billion, a PE ratio of -46.27 and a beta of 2.06. The stock has a fifty day simple moving average of $25.74 and a two-hundred day simple moving average of $18.51.

Rocket Lab USA (NASDAQ:RKLB) last issued its quarterly earnings data on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). The firm had revenue of $132.39 million for the quarter, compared to analysts’ expectations of $130.58 million. Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. On average, analysts predict that Rocket Lab USA, Inc. will post -0.38 EPS for the current fiscal year.

Insider Activity at Rocket Lab USA

In other Rocket Lab USA news, Director Nina Armagno sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $23.63, for a total value of $236,300.00. Following the completion of the sale, the director now owns 132,294 shares of the company’s stock, valued at $3,126,107.22. This trade represents a 7.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 13.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on RKLB shares. Stifel Nicolaus increased their price objective on Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. TD Cowen upgraded Rocket Lab USA to a “strong-buy” rating in a research report on Monday, February 24th. KeyCorp lowered their price target on Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Citigroup lowered their price target on Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Finally, The Goldman Sachs Group raised their price target on Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a research report on Thursday, January 16th. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Rocket Lab USA has a consensus rating of “Moderate Buy” and a consensus target price of $23.06.

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.