State Board of Administration of Florida Retirement System Makes New $76,000 Investment in Rocket Lab USA, Inc. (NASDAQ:RKLB)

State Board of Administration of Florida Retirement System acquired a new position in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB – Get Rating) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 20,180 shares of the rocket manufacturer’s stock, valued at approximately $76,000.

Several other institutional investors also recently bought and sold shares of the company. Point72 Hong Kong Ltd bought a new stake in Rocket Lab USA during the 2nd quarter valued at $27,000. IFP Advisors Inc boosted its position in Rocket Lab USA by 49.8% during the 4th quarter. IFP Advisors Inc now owns 7,819 shares of the rocket manufacturer’s stock valued at $81,000 after acquiring an additional 2,600 shares in the last quarter. Capstone Investment Advisors LLC bought a new stake in Rocket Lab USA during the 3rd quarter valued at $41,000. Ieq Capital LLC bought a new stake in Rocket Lab USA during the 4th quarter valued at $38,000. Finally, Cresset Asset Management LLC bought a new stake in Rocket Lab USA during the 1st quarter valued at $82,000. 69.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Michael D. Griffin sold 50,689 shares of the company’s stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $4.40, for a total value of $223,031.60. Following the completion of the transaction, the director now owns 88,779 shares of the company’s stock, valued at approximately $390,627.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Rocket Lab USA news, insider Arjun Kampani sold 22,532 shares of the stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $4.23, for a total transaction of $95,310.36. Following the completion of the transaction, the insider now owns 568,493 shares of the company’s stock, valued at $2,404,725.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael D. Griffin sold 50,689 shares of the stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $4.40, for a total value of $223,031.60. Following the transaction, the director now directly owns 88,779 shares of the company’s stock, valued at approximately $390,627.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 137,410 shares of company stock valued at $589,861. 15.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on RKLB shares. Wells Fargo & Company lowered their price objective on Rocket Lab USA from $5.75 to $5.50 and set an “equal weight” rating for the company in a research report on Monday, March 6th. Deutsche Bank Aktiengesellschaft dropped their target price on Rocket Lab USA from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, March 7th. Finally, Citigroup began coverage on Rocket Lab USA in a research note on Tuesday, April 18th. They set a “neutral” rating and a $4.55 target price on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Rocket Lab USA has a consensus rating of “Moderate Buy” and an average price target of $8.45.

Rocket Lab USA Stock Performance

Shares of RKLB stock opened at $4.52 on Wednesday. The stock has a market cap of $2.16 billion, a PE ratio of -13.70 and a beta of 0.77. Rocket Lab USA, Inc. has a 52-week low of $3.48 and a 52-week high of $7.29. The company has a quick ratio of 2.72, a current ratio of 3.22 and a debt-to-equity ratio of 0.18. The business has a 50-day simple moving average of $4.02 and a 200-day simple moving average of $4.31.

Rocket Lab USA (NASDAQ:RKLB – Get Rating) last released its quarterly earnings results on Tuesday, February 28th. The rocket manufacturer reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02). The business had revenue of $51.76 million during the quarter, compared to analyst estimates of $46.76 million. Rocket Lab USA had a negative return on equity of 22.79% and a negative net margin of 68.77%. On average, equities analysts expect that Rocket Lab USA, Inc. will post -0.35 EPS for the current year.

Rocket Lab USA Profile

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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 engineering and 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.