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

Vanguard Group Inc. lifted its position in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 1.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 36,195,577 shares of the rocket manufacturer’s stock after acquiring an additional 668,093 shares during the period. Vanguard Group Inc. owned 0.07% of Rocket Lab USA worth $921,901,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. LPL Financial LLC grew its stake in Rocket Lab USA by 89.7% during the 4th quarter. LPL Financial LLC now owns 249,873 shares of the rocket manufacturer’s stock valued at $6,364,000 after purchasing an additional 118,123 shares during the last quarter. Fox Run Management L.L.C. acquired a new stake in shares of Rocket Lab USA during the fourth quarter worth about $383,000. KLP Kapitalforvaltning AS purchased a new stake in Rocket Lab USA in the fourth quarter valued at approximately $1,709,000. Sei Investments Co. increased its holdings in Rocket Lab USA by 167.2% in the 4th quarter. Sei Investments Co. now owns 53,584 shares of the rocket manufacturer’s stock worth $1,365,000 after buying an additional 33,531 shares during the period. Finally, Virtu Financial LLC purchased a new position in Rocket Lab USA during the 4th quarter worth approximately $2,117,000. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Rocket Lab USA Trading Up 1.1 %

Shares of NASDAQ:RKLB opened at $18.62 on Friday. The business’s 50 day moving average price is $23.71 and its 200-day moving average price is $19.56. Rocket Lab USA, Inc. has a 1 year low of $3.47 and a 1 year high of $33.34. The firm has a market capitalization of $8.45 billion, a price-to-earnings ratio of -50.32 and a beta of 2.06. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16.

Rocket Lab USA (NASDAQ:RKLB) last posted its quarterly earnings data on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The company had revenue of $132.39 million for the quarter, compared to analysts’ expectations of $130.58 million. Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. On average, equities research analysts forecast that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on RKLB. TD Cowen raised shares of Rocket Lab USA to a “strong-buy” rating in a report on Monday, February 24th. The Goldman Sachs Group upped their price target on shares of Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a report on Thursday, January 16th. KeyCorp cut their price target on Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Stifel Nicolaus boosted their price objective on Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Finally, Morgan Stanley raised their target price on Rocket Lab USA from $18.00 to $20.00 and gave the stock an “equal weight” rating in a report on Monday, March 10th. 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. According to data from MarketBeat.com, Rocket Lab USA currently has a consensus rating of “Moderate Buy” and an average target price of $23.06.

Insider Buying and Selling

In other news, insider Frank Klein sold 44,553 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $18.18, for a total value of $809,973.54. Following the transaction, the insider now owns 1,419,479 shares in the company, valued at $25,806,128.22. This trade represents a 3.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 13.70% of the stock is currently owned by insiders.

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.