34,763 Shares in Rocket Lab USA, Inc. (NASDAQ:RKLB) Acquired by Promus Capital LLC

Promus Capital LLC bought a new position in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 34,763 shares of the rocket manufacturer’s stock, valued at approximately $885,000. Rocket Lab USA makes up 0.8% of Promus Capital LLC’s investment portfolio, making the stock its 22nd biggest holding.

A number of other large investors have also recently bought and sold shares of RKLB. Van ECK Associates Corp boosted its position in Rocket Lab USA by 33.1% during the 3rd quarter. Van ECK Associates Corp now owns 131,076 shares of the rocket manufacturer’s stock worth $1,275,000 after acquiring an additional 32,618 shares during the last quarter. Concurrent Investment Advisors LLC acquired a new position in Rocket Lab USA during the 3rd quarter worth approximately $132,000. GSA Capital Partners LLP acquired a new position in Rocket Lab USA during the 3rd quarter worth approximately $139,000. Verus Capital Partners LLC boosted its position in Rocket Lab USA by 42.7% during the 3rd quarter. Verus Capital Partners LLC now owns 47,310 shares of the rocket manufacturer’s stock worth $460,000 after acquiring an additional 14,150 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in Rocket Lab USA by 4.4% during the 3rd quarter. Victory Capital Management Inc. now owns 40,587 shares of the rocket manufacturer’s stock worth $395,000 after acquiring an additional 1,709 shares during the last quarter. Institutional investors and hedge funds own 71.78% of the company’s stock.

Rocket Lab USA Trading Up 7.4 %

Shares of Rocket Lab USA stock opened at $20.40 on Thursday. The business has a fifty day simple moving average of $26.29 and a two-hundred day simple moving average of $18.19. Rocket Lab USA, Inc. has a 1 year low of $3.47 and a 1 year high of $33.34. The company has a market capitalization of $10.20 billion, a price-to-earnings ratio of -55.13 and a beta of 1.99. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16.

Rocket Lab USA (NASDAQ:RKLB) last announced 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). Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. The business had revenue of $132.39 million for the quarter, compared to analyst estimates of $130.58 million. Research analysts forecast that Rocket Lab USA, Inc. will post -0.38 EPS for the current year.

Wall Street Analyst Weigh In

RKLB has been the subject of a number of recent research reports. Stifel Nicolaus upped their price target on Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. 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 report on Thursday, January 16th. Citigroup cut their price objective on Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating for the company in a report on Friday, February 28th. Cantor Fitzgerald increased their price objective on Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Finally, TD Cowen raised Rocket Lab USA to a “strong-buy” rating in a report on Monday, February 24th. Five equities 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $21.50.

Insiders Place Their Bets

In other Rocket Lab USA news, Director Nina Armagno sold 10,000 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $23.63, for a total transaction of $236,300.00. Following the transaction, the director now owns 132,294 shares in the company, valued at $3,126,107.22. This trade represents a 7.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company 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.