Torray Investment Partners LLC Makes New Investment in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Torray Investment Partners LLC acquired a new position in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) in the 4th quarter, Holdings Channel.com reports. The firm acquired 9,000 shares of the rocket manufacturer’s stock, valued at approximately $229,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RKLB. Spectrum Wealth Counsel LLC bought a new stake in Rocket Lab USA during the 4th quarter worth about $25,000. Wingate Wealth Advisors Inc. acquired a new position in Rocket Lab USA during the fourth quarter valued at approximately $40,000. New Millennium Group LLC increased its stake in Rocket Lab USA by 105.0% in the fourth quarter. New Millennium Group LLC now owns 2,050 shares of the rocket manufacturer’s stock valued at $52,000 after purchasing an additional 1,050 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of 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. Finally, Global Retirement Partners LLC bought a new stake in shares of Rocket Lab USA in the 4th quarter valued at $58,000. 71.78% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

RKLB has been the subject of a number of research analyst reports. KeyCorp decreased their target price on Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating for the company in a research note on Friday. TD Cowen raised Rocket Lab USA to a “strong-buy” rating in a research report on Monday, February 24th. Cantor Fitzgerald raised their price target on Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Stifel Nicolaus lifted their target price on Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Finally, Wells Fargo & Company decreased their price target 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. 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 company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.50.

Rocket Lab USA Stock Performance

Shares of NASDAQ RKLB opened at $18.66 on Tuesday. The company has a market capitalization of $9.33 billion, a P/E ratio of -50.43 and a beta of 1.99. The stock has a 50 day moving average of $26.57 and a 200-day moving average of $18.09. 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 12 month low of $3.47 and a 12 month high of $33.34.

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 the consensus estimate of ($0.09) by ($0.01). The firm had revenue of $132.39 million for the quarter, compared to analyst estimates of $130.58 million. Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. As a group, equities research analysts predict that Rocket Lab USA, Inc. will post -0.38 EPS for the current year.

Insider Buying and Selling

In other Rocket Lab USA news, Director Nina Armagno sold 10,000 shares of Rocket Lab USA stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $23.63, for a total value of $236,300.00. Following the completion of the transaction, the director now directly owns 132,294 shares of the company’s stock, valued at $3,126,107.22. The trade was a 7.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 13.70% of the stock is currently owned by insiders.

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.