Cibc World Markets Corp Invests $829,000 in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Cibc World Markets Corp purchased a new stake in Rocket Lab USA, Inc. (NASDAQ:RKLB) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 32,561 shares of the rocket manufacturer’s stock, valued at approximately $829,000.

A number of other large investors have also added to or reduced their stakes in RKLB. Spectrum Wealth Counsel LLC bought a new stake in shares of Rocket Lab USA during the 4th quarter valued at $25,000. Wingate Wealth Advisors Inc. acquired a new position in Rocket Lab USA in the fourth quarter valued at about $40,000. New Millennium Group LLC lifted its position in Rocket Lab USA by 105.0% during the fourth quarter. New Millennium Group LLC now owns 2,050 shares of the rocket manufacturer’s stock worth $52,000 after purchasing an additional 1,050 shares during the period. AlphaQuest LLC acquired a new stake in Rocket Lab USA during the fourth quarter worth about $52,000. Finally, Smartleaf Asset Management LLC increased its holdings in Rocket Lab USA by 1,565.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,015 shares of the rocket manufacturer’s stock valued at $53,000 after buying an additional 1,894 shares during the period. Institutional investors and hedge funds own 71.78% of the company’s stock.

Rocket Lab USA Price Performance

Shares of NASDAQ:RKLB opened at $18.94 on Friday. The firm’s fifty day moving average is $24.20 and its 200-day moving average is $19.09. Rocket Lab USA, Inc. has a 52 week low of $3.47 and a 52 week high of $33.34. The firm has a market cap of $8.59 billion, a PE ratio of -51.19 and a beta of 2.06. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58.

Rocket Lab USA (NASDAQ:RKLB) last posted its quarterly earnings data on Thursday, 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 51.76% and a negative return on equity of 39.47%. The firm had revenue of $132.39 million during the quarter, compared to the consensus estimate of $130.58 million. Sell-side analysts predict that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current year.

Insiders Place Their Bets

In other Rocket Lab USA news, insider Frank Klein sold 1,835 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $19.93, for a total transaction of $36,571.55. Following the transaction, the insider now directly owns 1,417,644 shares in the company, valued at approximately $28,253,644.92. This represents a 0.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 13.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Stifel Nicolaus upped their price target on shares of Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Morgan Stanley raised their target price on Rocket Lab USA from $18.00 to $20.00 and gave the company an “equal weight” rating in a report on Monday, March 10th. Wells Fargo & Company lowered their price target on 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. The Goldman Sachs Group raised 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. Finally, TD Cowen raised Rocket Lab USA to a “strong-buy” rating in a research note on Monday, February 24th. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average 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.