Zurcher Kantonalbank Zurich Cantonalbank Purchases 1,509 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 2.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 60,199 shares of the rocket manufacturer’s stock after acquiring an additional 1,509 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Rocket Lab USA were worth $1,533,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in RKLB. Spectrum Wealth Counsel LLC bought a new stake in shares of Rocket Lab USA in the 4th quarter worth about $25,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Rocket Lab USA in the 4th quarter worth about $40,000. New Millennium Group LLC lifted its holdings in shares of 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 worth $52,000 after acquiring an additional 1,050 shares during the last quarter. AlphaQuest LLC bought a new stake in shares of Rocket Lab USA in the 4th quarter worth about $52,000. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Rocket Lab USA by 1,565.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,015 shares of the rocket manufacturer’s stock worth $53,000 after acquiring an additional 1,894 shares during the last quarter. Institutional investors own 71.78% of the company’s stock.

Insider Activity

In other news, insider Frank Klein sold 44,553 shares of Rocket Lab USA stock in a transaction on Friday, March 14th. The stock was sold at an average price of $18.18, for a total value of $809,973.54. Following the transaction, the insider now directly owns 1,419,479 shares in the company, 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. Company insiders own 13.70% of the company’s stock.

Rocket Lab USA Trading Down 5.9 %

Shares of NASDAQ:RKLB opened at $17.98 on Wednesday. Rocket Lab USA, Inc. has a 12-month low of $3.47 and a 12-month high of $33.34. The business’s fifty day simple moving average is $24.71 and its 200-day simple moving average is $19.01. The company has a market capitalization of $8.15 billion, a PE ratio of -48.59 and a beta of 2.06. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97.

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on RKLB shares. TD Cowen upgraded shares of Rocket Lab USA to a “strong-buy” rating in a report on Monday, February 24th. Morgan Stanley raised 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 note on Monday, March 10th. Citigroup reduced their price target on shares of Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Wells Fargo & Company reduced their price target on shares of Rocket Lab USA from $22.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Monday, March 3rd. Finally, KeyCorp reduced their price target on shares of Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.