Proficio Capital Partners LLC Purchases New Holdings in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Proficio Capital Partners LLC purchased a new stake in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 61,408 shares of the rocket manufacturer’s stock, valued at approximately $1,564,000.

Several other hedge funds also recently added to or reduced their stakes in RKLB. Chicago Partners Investment Group LLC boosted its position in Rocket Lab USA by 0.4% in the 4th quarter. Chicago Partners Investment Group LLC now owns 79,943 shares of the rocket manufacturer’s stock valued at $2,187,000 after buying an additional 334 shares during the period. CIBC Asset Management Inc boosted its position in Rocket Lab USA by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 15,078 shares of the rocket manufacturer’s stock valued at $384,000 after buying an additional 746 shares during the period. IFP Advisors Inc boosted its position in Rocket Lab USA by 12.3% in the 4th quarter. IFP Advisors Inc now owns 6,885 shares of the rocket manufacturer’s stock valued at $175,000 after buying an additional 753 shares during the period. Spectrum Wealth Counsel LLC purchased a new stake in Rocket Lab USA in the 4th quarter valued at about $25,000. Finally, New Millennium Group LLC boosted its position in Rocket Lab USA by 105.0% in the 4th quarter. New Millennium Group LLC now owns 2,050 shares of the rocket manufacturer’s stock valued at $52,000 after buying an additional 1,050 shares during the period. 71.78% of the stock is currently owned by institutional investors.

Insider Activity at Rocket Lab USA

In related news, insider Frank Klein sold 1,835 shares of Rocket Lab USA stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $19.93, for a total value of $36,571.55. Following the completion of the transaction, the insider now owns 1,417,644 shares in the company, valued at approximately $28,253,644.92. The trade was a 0.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 13.70% of the company’s stock.

Rocket Lab USA Stock Performance

NASDAQ:RKLB opened at $18.53 on Friday. The company’s 50-day moving average price is $24.36 and its 200-day moving average price is $19.01. 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 company has a market cap of $8.40 billion, a P/E ratio of -50.08 and a beta of 2.06. Rocket Lab USA, Inc. has a twelve month low of $3.47 and a twelve 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). Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. The firm had revenue of $132.39 million for the quarter, compared to analyst estimates of $130.58 million. On average, sell-side analysts forecast that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

RKLB has been the subject of several research reports. Wells Fargo & Company lowered their price objective on shares of Rocket Lab USA from $22.00 to $21.00 and set an “equal weight” rating for the company in a research report on Monday, March 3rd. Stifel Nicolaus boosted their price objective on shares of Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. TD Cowen raised shares of Rocket Lab USA to a “strong-buy” rating in a research report on Monday, February 24th. Morgan Stanley upped their price target on shares of Rocket Lab USA from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Monday, March 10th. Finally, Citigroup lowered their price target on shares of Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Five investment 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 company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $23.06.

About Rocket Lab USA

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.