SG Americas Securities LLC Makes New Investment in Rocket Lab USA, Inc. (NASDAQ:RKLB)

SG Americas Securities LLC purchased a new position in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 22,448 shares of the rocket manufacturer’s stock, valued at approximately $124,000.

A number of other large investors also recently made changes to their positions in RKLB. JPMorgan Chase & Co. increased its holdings in shares of Rocket Lab USA by 490.1% during the 1st quarter. JPMorgan Chase & Co. now owns 800,962 shares of the rocket manufacturer’s stock worth $6,447,000 after buying an additional 665,221 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Rocket Lab USA during the 1st quarter worth $119,000. BlackRock Inc. increased its holdings in shares of Rocket Lab USA by 165.6% during the 1st quarter. BlackRock Inc. now owns 6,444,486 shares of the rocket manufacturer’s stock worth $51,878,000 after buying an additional 4,017,797 shares during the last quarter. Vontobel Holding Ltd. acquired a new stake in shares of Rocket Lab USA during the 1st quarter worth $138,000. Finally, Blair William & Co. IL increased its holdings in shares of Rocket Lab USA by 5.9% during the 1st quarter. Blair William & Co. IL now owns 426,519 shares of the rocket manufacturer’s stock worth $3,433,000 after buying an additional 23,677 shares during the last quarter. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Insiders Place Their Bets

In other Rocket Lab USA news, CFO Adam C. Spice sold 67,160 shares of Rocket Lab USA stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $4.25, for a total value of $285,430.00. Following the transaction, the chief financial officer now owns 1,442,206 shares in the company, valued at $6,129,375.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CFO Adam C. Spice sold 67,160 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $4.25, for a total value of $285,430.00. Following the completion of the transaction, the chief financial officer now owns 1,442,206 shares of the company’s stock, valued at approximately $6,129,375.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Arjun Kampani sold 31,394 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $4.25, for a total transaction of $133,424.50. Following the completion of the transaction, the general counsel now directly owns 695,147 shares of the company’s stock, valued at approximately $2,954,374.75. The disclosure for this sale can be found here. 15.00% of the stock is currently owned by company insiders.

Rocket Lab USA Price Performance

Shares of NASDAQ:RKLB opened at $3.57 on Thursday. The firm’s 50 day moving average is $4.23 and its two-hundred day moving average is $4.51. Rocket Lab USA, Inc. has a 52 week low of $3.47 and a 52 week high of $8.05. The firm has a market capitalization of $1.75 billion, a P/E ratio of -9.39 and a beta of 1.17. The company has a current ratio of 2.13, a quick ratio of 1.65 and a debt-to-equity ratio of 0.19.

Rocket Lab USA (NASDAQ:RKLB) last posted its quarterly earnings data on Tuesday, 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 net margin of 74.64% and a negative return on equity of 30.54%. The company had revenue of $59.99 million for the quarter, compared to analyst estimates of $62.90 million. During the same quarter in the prior year, the business earned ($0.08) EPS. Rocket Lab USA’s revenue was up 15.9% compared to the same quarter last year. Analysts anticipate that Rocket Lab USA, Inc. will post -0.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

RKLB has been the subject of a number of research analyst reports. KeyCorp began coverage on Rocket Lab USA in a report on Wednesday, January 17th. They set an “overweight” rating and a $8.00 price objective for the company. Wells Fargo & Company lowered their price target on Rocket Lab USA from $5.00 to $4.25 and set an “equal weight” rating for the company in a report on Thursday, April 4th. Citigroup reiterated a “buy” rating and issued a $6.00 price target on shares of Rocket Lab USA in a report on Monday, February 12th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $6.00 price target on shares of Rocket Lab USA in a report on Friday, December 22nd. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.46.

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.