Virtu Financial LLC Acquires New Shares in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Virtu Financial LLC acquired a new stake in Rocket Lab USA, Inc. (NASDAQ:RKLB) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 83,114 shares of the rocket manufacturer’s stock, valued at approximately $2,117,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Sandy Spring Bank bought a new stake in shares of Rocket Lab USA in the fourth quarter valued at about $26,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Rocket Lab USA in the fourth quarter valued at about $122,000. Xponance Inc. raised its holdings in shares of Rocket Lab USA by 8.9% in the fourth quarter. Xponance Inc. now owns 25,229 shares of the rocket manufacturer’s stock valued at $643,000 after acquiring an additional 2,054 shares in the last quarter. Wealth Architects LLC raised its holdings in shares of Rocket Lab USA by 25.5% in the fourth quarter. Wealth Architects LLC now owns 29,731 shares of the rocket manufacturer’s stock valued at $757,000 after acquiring an additional 6,034 shares in the last quarter. Finally, Signaturefd LLC raised its holdings in Rocket Lab USA by 12.2% in the fourth quarter. Signaturefd LLC now owns 6,014 shares of the rocket manufacturer’s stock worth $153,000 after purchasing an additional 653 shares in the last quarter. 71.78% of the stock is currently owned by institutional investors.

Rocket Lab USA Price Performance

Shares of NASDAQ RKLB opened at $18.94 on Friday. The business’s 50 day moving average price is $24.20 and its 200 day moving average price is $19.18. The firm has a market cap of $8.59 billion, a P/E ratio of -51.19 and a beta of 2.06. 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.

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

Insider Activity at Rocket Lab USA

In other Rocket Lab USA news, insider Frank Klein sold 44,553 shares of the company’s stock in a transaction that occurred 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 sale, the insider now owns 1,419,479 shares in the company, valued at approximately $25,806,128.22. This represents a 3.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 13.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. KeyCorp reduced their target price on shares of Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating for the company in a report on Friday, February 28th. TD Cowen upgraded shares of Rocket Lab USA to a “strong-buy” rating in a report on Monday, February 24th. Morgan Stanley boosted their target price on shares of Rocket Lab USA from $18.00 to $20.00 and gave the stock an “equal weight” rating in a report on Monday, March 10th. Citigroup reduced their target price on shares of Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating for the company in a report on Friday, February 28th. Finally, Wells Fargo & Company reduced their target price on shares of Rocket Lab USA from $22.00 to $21.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. Five research 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’s stock. According to MarketBeat, Rocket Lab USA presently has an average rating of “Moderate Buy” and a consensus price target of $23.06.

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.