Rocket Lab USA, Inc. (NASDAQ:RKLB) Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. raised its stake in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 1.7% during the fourth quarter, Holdings Channel reports. The firm owned 26,551,789 shares of the rocket manufacturer’s stock after purchasing an additional 451,370 shares during the period. Vanguard Group Inc. owned approximately 0.05% of Rocket Lab USA worth $146,831,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Raymond James & Associates boosted its holdings in Rocket Lab USA by 10.3% in the fourth quarter. Raymond James & Associates now owns 21,825 shares of the rocket manufacturer’s stock valued at $121,000 after acquiring an additional 2,040 shares during the last quarter. Cerity Partners LLC grew its holdings in shares of Rocket Lab USA by 14.5% during the 4th quarter. Cerity Partners LLC now owns 17,630 shares of the rocket manufacturer’s stock worth $97,000 after purchasing an additional 2,230 shares during the period. New York State Common Retirement Fund grew its holdings in shares of Rocket Lab USA by 2.5% during the 4th quarter. New York State Common Retirement Fund now owns 114,781 shares of the rocket manufacturer’s stock worth $635,000 after purchasing an additional 2,845 shares during the period. Avitas Wealth Management LLC increased its position in Rocket Lab USA by 2.5% during the 4th quarter. Avitas Wealth Management LLC now owns 121,332 shares of the rocket manufacturer’s stock worth $671,000 after purchasing an additional 2,913 shares in the last quarter. Finally, Atria Wealth Solutions Inc. raised its holdings in Rocket Lab USA by 9.8% in the fourth quarter. Atria Wealth Solutions Inc. now owns 50,400 shares of the rocket manufacturer’s stock valued at $279,000 after buying an additional 4,500 shares during the period. 71.78% of the stock is owned by hedge funds and other institutional investors.

Rocket Lab USA Trading Up 0.2 %

Shares of RKLB opened at $4.62 on Friday. Rocket Lab USA, Inc. has a one year low of $3.47 and a one year high of $8.05. The stock has a 50-day moving average price of $4.38 and a 200 day moving average price of $4.46. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.69 and a current ratio of 3.12. The company has a market capitalization of $2.28 billion, a P/E ratio of -12.49 and a beta of 1.25.

Rocket Lab USA (NASDAQ:RKLB) last released its quarterly earnings results on Monday, May 6th. The rocket manufacturer reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.02. The business had revenue of $92.80 million during the quarter, compared to the consensus estimate of $94.98 million. Rocket Lab USA had a negative net margin of 64.15% and a negative return on equity of 32.50%. The business’s quarterly revenue was up 69.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.10) earnings per share. Sell-side analysts forecast that Rocket Lab USA, Inc. will post -0.41 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Adam C. Spice sold 63,529 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $4.22, for a total value of $268,092.38. Following the sale, the chief financial officer now owns 1,383,677 shares in the company, valued at approximately $5,839,116.94. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO Adam C. Spice sold 63,529 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $4.22, for a total value of $268,092.38. Following the completion of the sale, the chief financial officer now directly owns 1,383,677 shares in the company, valued at approximately $5,839,116.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Arjun Kampani sold 29,026 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $4.22, for a total value of $122,489.72. Following the sale, the general counsel now directly owns 666,121 shares in the company, valued at $2,811,030.62. The disclosure for this sale can be found here. 13.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

RKLB has been the subject of several research reports. Wells Fargo & Company decreased their price objective on shares of Rocket Lab USA from $5.00 to $4.25 and set an “equal weight” rating for the company in a research note on Thursday, April 4th. The Goldman Sachs Group began coverage on Rocket Lab USA in a report on Tuesday, June 11th. They issued a “neutral” rating and a $4.50 price target for the company. Citigroup reduced their price objective on Rocket Lab USA from $6.00 to $5.45 and set a “buy” rating on the stock in a research note on Tuesday, May 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $6.00 target price on shares of Rocket Lab USA in a research report on Monday. Finally, BTIG Research initiated coverage on Rocket Lab USA in a report on Wednesday, June 26th. They set a “neutral” rating on the stock. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Rocket Lab USA currently has a consensus rating of “Moderate Buy” and an average target price of $6.65.

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.