Woodley Farra Manion Portfolio Management Inc. Buys 10,000 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB)

Woodley Farra Manion Portfolio Management Inc. increased its stake in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 15.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 76,600 shares of the rocket manufacturer’s stock after purchasing an additional 10,000 shares during the period. Woodley Farra Manion Portfolio Management Inc.’s holdings in Rocket Lab USA were worth $1,951,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Citigroup Inc. boosted its position in 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. boosted its stake in shares of Rocket Lab USA by 22.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer’s stock worth $28,006,000 after acquiring an additional 532,207 shares during the last quarter. 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 purchased a new stake in shares of Rocket Lab USA in the third quarter worth $449,000. Finally, National Bank of Canada FI grew its position in shares of Rocket Lab USA by 149.2% during the third quarter. National Bank of Canada FI now owns 50,408 shares of the rocket manufacturer’s stock worth $490,000 after purchasing an additional 30,178 shares in the last quarter. Institutional investors own 71.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Cantor Fitzgerald raised their target price on shares of Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. TD Cowen raised Rocket Lab USA to a “strong-buy” rating in a research note on Monday, February 24th. Citigroup dropped their target price on Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating for the company in a report on Friday. KeyCorp decreased their price target on Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating on the stock in a report on Friday. Finally, The Goldman Sachs Group lifted their price objective on shares of Rocket Lab USA from $12.00 to $13.50 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $21.61.

Rocket Lab USA Stock Up 3.1 %

Shares of RKLB opened at $20.44 on Monday. The firm has a fifty day moving average price of $26.71 and a 200-day moving average price of $18.00. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $10.22 billion, a P/E ratio of -55.25 and a beta of 1.99. Rocket Lab USA, Inc. has a 12-month low of $3.47 and a 12-month high of $33.34.

Rocket Lab USA (NASDAQ:RKLB) last released its quarterly earnings data on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The company had revenue of $132.39 million during 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%. Equities research analysts expect that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current year.

Insider Buying and Selling at Rocket Lab USA

In other news, Director Alexander R. Slusky sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $23.00, for a total value of $1,150,000.00. Following the completion of the sale, the director now owns 534,675 shares of the company’s stock, valued at approximately $12,297,525. This represents a 8.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Nina Armagno sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $23.63, for a total transaction of $236,300.00. Following the completion of the sale, the director now owns 132,294 shares of the company’s stock, valued at approximately $3,126,107.22. This trade represents a 7.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 13.70% of the stock is currently owned by corporate 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.