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

Torray Investment Partners LLC acquired a new stake in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 9,000 shares of the rocket manufacturer’s stock, valued at approximately $229,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its position in shares of Rocket Lab USA by 12.2% in the third quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock valued at $80,317,000 after purchasing an additional 898,223 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Rocket Lab USA by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,902,212 shares of the rocket manufacturer’s stock valued at $73,919,000 after purchasing an additional 23,855 shares during the period. Bank of New York Mellon Corp raised its position in shares of Rocket Lab USA by 2.6% in the fourth quarter. Bank of New York Mellon Corp now owns 1,121,024 shares of the rocket manufacturer’s stock valued at $28,552,000 after purchasing an additional 28,618 shares during the period. Mizuho Markets Americas LLC bought a new position in shares of Rocket Lab USA in the third quarter valued at approximately $8,930,000. Finally, Citigroup Inc. raised its position in shares of Rocket Lab USA by 46.8% in the third quarter. Citigroup Inc. now owns 691,387 shares of the rocket manufacturer’s stock valued at $6,727,000 after purchasing an additional 220,432 shares during the period. Institutional investors own 71.78% of the company’s stock.

Analyst Ratings Changes

RKLB has been the topic of a number of research reports. Wells Fargo & Company dropped their target price on shares of Rocket Lab USA from $22.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Monday. Bank of America boosted their target price on shares of Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. KeyCorp dropped their target price on shares of Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating on the stock in a research report on Friday. TD Cowen raised shares of Rocket Lab USA to a “strong-buy” rating in a research report on Monday, February 24th. Finally, Citigroup decreased their price target on shares of Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Friday. Five equities research 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $21.50.

Rocket Lab USA Stock Down 8.9 %

Shares of NASDAQ:RKLB opened at $18.66 on Tuesday. Rocket Lab USA, Inc. has a 52 week low of $3.47 and a 52 week high of $33.34. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58. The company’s fifty day moving average is $26.57 and its 200-day moving average is $18.09. The company has a market capitalization of $9.33 billion, a PE ratio of -50.43 and a beta of 1.99.

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

Insider Buying and Selling

In related news, Director Nina Armagno sold 10,000 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were 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 represents a 7.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 13.70% of the stock is owned by corporate insiders.

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.