Virtu Financial LLC Invests $2.12 Million in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Virtu Financial LLC bought a new position in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 83,114 shares of the rocket manufacturer’s stock, valued at approximately $2,117,000.

Several other large investors have also made changes to their positions in RKLB. Geode Capital Management LLC raised its stake in shares of Rocket Lab USA by 12.2% during the 3rd quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock worth $80,317,000 after buying an additional 898,223 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Rocket Lab USA in the 4th quarter valued at $21,896,000. Charles Schwab Investment Management Inc. raised its stake in 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. Ieq Capital LLC acquired a new position in Rocket Lab USA in the 4th quarter valued at $8,775,000. Finally, Quadrature Capital Ltd acquired a new position in Rocket Lab USA in the 3rd quarter valued at $2,651,000. 71.78% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Rocket Lab USA

In related news, insider Frank Klein sold 1,835 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $19.93, for a total transaction of $36,571.55. Following the completion of the transaction, the insider now directly owns 1,417,644 shares in the company, valued at $28,253,644.92. This trade represents a 0.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 13.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. The Goldman Sachs Group increased their price objective 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. KeyCorp reduced their price objective on Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. TD Cowen raised Rocket Lab USA to a “strong-buy” rating in a research note on Monday, February 24th. Morgan Stanley raised their target price 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. Finally, Wells Fargo & Company cut their target price on Rocket Lab USA from $22.00 to $21.00 and set an “equal weight” rating for the company in a research note on Monday, March 3rd. Five investment 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 currently has a consensus rating of “Moderate Buy” and an average price target of $23.06.

Rocket Lab USA Stock Performance

NASDAQ RKLB opened at $18.94 on Friday. The stock has a market cap of $8.59 billion, a PE ratio of -51.19 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, 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 $24.20 and a 200-day simple moving average of $19.18.

Rocket Lab USA (NASDAQ:RKLB) last released its quarterly earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). The business 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%. Equities analysts anticipate that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current year.

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.