Cibc World Markets Corp Takes Position in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Cibc World Markets Corp purchased a new position in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 32,561 shares of the rocket manufacturer’s stock, valued at approximately $829,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Spectrum Wealth Counsel LLC bought a new stake in shares of Rocket Lab USA during the fourth quarter valued at approximately $25,000. Wingate Wealth Advisors Inc. acquired a new stake in Rocket Lab USA in the 4th quarter valued at $40,000. New Millennium Group LLC increased its stake in Rocket Lab USA by 105.0% during the 4th quarter. New Millennium Group LLC now owns 2,050 shares of the rocket manufacturer’s stock valued at $52,000 after purchasing an additional 1,050 shares in the last quarter. AlphaQuest LLC acquired a new position in Rocket Lab USA during the fourth quarter worth $52,000. Finally, Smartleaf Asset Management LLC lifted its stake in shares of Rocket Lab USA by 1,565.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,015 shares of the rocket manufacturer’s stock valued at $53,000 after buying an additional 1,894 shares in the last quarter. Institutional investors own 71.78% of the company’s stock.

Rocket Lab USA Stock Performance

NASDAQ RKLB opened at $18.94 on Friday. 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 company has a market capitalization of $8.59 billion, a PE ratio of -51.19 and a beta of 2.06. Rocket Lab USA, Inc. has a 52-week low of $3.47 and a 52-week high of $33.34. The company has a 50-day simple moving average of $24.20 and a 200 day simple moving average of $19.09.

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

Analyst Ratings Changes

Several equities research analysts have recently commented on RKLB shares. Stifel Nicolaus boosted their target price on shares of Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Citigroup lowered their price objective on Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Wells Fargo & Company decreased their price target on Rocket Lab USA from $22.00 to $21.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. The Goldman Sachs Group raised their price objective on Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a research note on Thursday, January 16th. Finally, Morgan Stanley increased their target price on shares of Rocket Lab USA from $18.00 to $20.00 and gave the company an “equal weight” rating in a report on Monday, March 10th. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $23.06.

Insider Buying and Selling at Rocket Lab USA

In related news, insider Frank Klein sold 44,553 shares of Rocket Lab USA stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $18.18, for a total value of $809,973.54. Following the completion of the sale, the insider now owns 1,419,479 shares of the company’s stock, valued at approximately $25,806,128.22. This trade represents a 3.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 13.70% of the company’s stock.

Rocket Lab USA Company 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.