Ieq Capital LLC Buys Shares of 344,510 Rocket Lab USA, Inc. (NASDAQ:RKLB)

Ieq Capital LLC purchased a new position in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 344,510 shares of the rocket manufacturer’s stock, valued at approximately $8,775,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC raised its position 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 in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Rocket Lab USA by 22.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer’s stock valued at $28,006,000 after purchasing an additional 532,207 shares during the last quarter. Mizuho Markets Americas LLC acquired a new position in shares of Rocket Lab USA during the 3rd quarter worth $8,930,000. Citigroup Inc. lifted its position in shares of Rocket Lab USA by 46.8% during the 3rd quarter. Citigroup Inc. now owns 691,387 shares of the rocket manufacturer’s stock worth $6,727,000 after buying an additional 220,432 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in Rocket Lab USA by 2.2% in the fourth quarter. Rhumbline Advisers now owns 479,129 shares of the rocket manufacturer’s stock valued at $12,203,000 after buying an additional 10,219 shares in the last quarter. Institutional investors own 71.78% of the company’s stock.

Analyst Ratings Changes

RKLB has been the subject of several research analyst reports. Wells Fargo & Company boosted their target price on Rocket Lab USA from $13.50 to $22.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 11th. Citigroup upped their price objective on shares of Rocket Lab USA from $22.00 to $35.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. 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 research report on Thursday, November 14th. KeyCorp upped their price target on shares of Rocket Lab USA from $27.00 to $32.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Finally, The Goldman Sachs Group increased their price target on Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a research note on Thursday, January 16th. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $22.28.

Rocket Lab USA Stock Performance

NASDAQ RKLB opened at $25.26 on Friday. The company has a market capitalization of $12.63 billion, a price-to-earnings ratio of -68.27 and a beta of 1.99. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. Rocket Lab USA, Inc. has a twelve month low of $3.47 and a twelve month high of $33.34. The stock has a fifty day simple moving average of $27.05 and a 200 day simple moving average of $17.08.

Insider Buying and Selling at Rocket Lab USA

In other news, Director Nina Armagno sold 10,000 shares of the business’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 value of $236,300.00. Following the transaction, the director now owns 132,294 shares in the company, valued at approximately $3,126,107.22. The trade was a 7.03 % 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 Alexander R. Slusky sold 50,000 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $23.00, for a total transaction of $1,150,000.00. Following the sale, the director now owns 534,675 shares of the company’s stock, valued at approximately $12,297,525. This trade represents a 8.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 124,530 shares of company stock worth $2,944,700. Insiders own 13.70% of the company’s stock.

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.