O Shaughnessy Asset Management LLC Takes Position in Rocket Lab USA, Inc. (NASDAQ:RKLB)

O Shaughnessy Asset Management LLC acquired a new position in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 14,383 shares of the rocket manufacturer’s stock, valued at approximately $366,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Chicago Partners Investment Group LLC raised its position in shares of Rocket Lab USA by 0.4% in the fourth 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 last quarter. Wellington Shields & Co. LLC grew its stake in Rocket Lab USA by 0.5% in the 4th quarter. Wellington Shields & Co. LLC now owns 74,522 shares of the rocket manufacturer’s stock worth $1,898,000 after acquiring an additional 383 shares during the period. Signaturefd LLC raised its holdings in Rocket Lab USA by 12.2% in the 4th quarter. Signaturefd LLC now owns 6,014 shares of the rocket manufacturer’s stock valued at $153,000 after acquiring an additional 653 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Rocket Lab USA by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 15,078 shares of the rocket manufacturer’s stock worth $384,000 after purchasing an additional 746 shares during the last quarter. Finally, IFP Advisors Inc boosted its holdings in shares of Rocket Lab USA by 12.3% during the fourth quarter. IFP Advisors Inc now owns 6,885 shares of the rocket manufacturer’s stock worth $175,000 after purchasing an additional 753 shares during the last quarter. Institutional investors and hedge funds own 71.78% of the company’s stock.

Analyst Upgrades and Downgrades

RKLB has been the topic of a number of research analyst reports. TD Cowen raised Rocket Lab USA to a “strong-buy” rating in a research note on Monday, February 24th. The Goldman Sachs Group lifted their price target on shares of Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a report on Thursday, January 16th. Citigroup cut their target price 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. KeyCorp lowered their price target on Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Finally, Morgan Stanley upped their price target on 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. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Rocket Lab USA has an average rating of “Moderate Buy” and an average price target of $22.72.

Rocket Lab USA Stock Performance

RKLB opened at $19.63 on Friday. The firm’s 50 day moving average is $21.18 and its 200-day moving average is $20.49. Rocket Lab USA, Inc. has a 52-week low of $3.47 and a 52-week high of $33.34. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $8.90 billion, a P/E ratio of -53.05 and a beta of 2.08.

Rocket Lab USA (NASDAQ:RKLB) last released its quarterly earnings results 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 firm had revenue of $132.39 million for the quarter, compared to analysts’ expectations of $130.58 million. Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. Analysts expect that Rocket Lab USA, Inc. will post -0.38 EPS for the current fiscal year.

Insider Buying and Selling at Rocket Lab USA

In other Rocket Lab USA news, insider Frank Klein sold 1,835 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $19.93, for a total transaction of $36,571.55. Following the transaction, the insider now directly owns 1,417,644 shares in the company, valued at $28,253,644.92. This represents a 0.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 13.70% of the stock is owned by insiders.

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.