Quantessence Capital LLC Purchases New Stake in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Quantessence Capital LLC bought a new stake in Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 28,491 shares of the rocket manufacturer's stock, valued at approximately $726,000.

Several other institutional investors also recently made changes to their positions in the stock. Spectrum Wealth Counsel LLC acquired a new position in Rocket Lab USA during the 4th quarter valued at approximately $25,000. Sandy Spring Bank acquired a new position in shares of Rocket Lab USA during the fourth quarter valued at $26,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Rocket Lab USA during the fourth quarter valued at $40,000. NewEdge Advisors LLC grew its position in shares of Rocket Lab USA by 1,000.0% during the fourth quarter. NewEdge Advisors LLC now owns 1,925 shares of the rocket manufacturer's stock worth $49,000 after acquiring an additional 1,750 shares during the last quarter. Finally, New Millennium Group LLC increased its holdings in shares of Rocket Lab USA by 105.0% in the 4th quarter. New Millennium Group LLC now owns 2,050 shares of the rocket manufacturer's stock worth $52,000 after acquiring an additional 1,050 shares during the period. 71.78% of the stock is owned by institutional investors.

Insider Activity

In other Rocket Lab USA news, insider Frank Klein sold 44,553 shares of the firm's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $18.18, for a total value of $809,973.54. Following the completion of the transaction, the insider now directly 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 sale was disclosed in a filing with the SEC, which is available through this link. 13.70% of the stock is currently owned by company insiders.

Rocket Lab USA Price Performance

Shares of NASDAQ RKLB traded up $0.50 during midday trading on Friday, reaching $22.38. The company's stock had a trading volume of 13,748,388 shares, compared to its average volume of 15,465,377. Rocket Lab USA, Inc. has a one year low of $3.65 and a one year high of $33.34. The company has a market cap of $10.15 billion, a price-to-earnings ratio of -60.48 and a beta of 2.08. The company has a 50 day moving average price of $19.57 and a 200 day moving average price of $21.15. 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 (NASDAQ:RKLB - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The rocket manufacturer reported ($0.10) EPS for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.01). The company had revenue of $132.39 million for 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%. On average, equities research analysts expect that Rocket Lab USA, Inc. will post -0.38 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on RKLB. Morgan Stanley upped their target price on shares of Rocket Lab USA from $18.00 to $20.00 and gave the stock an "equal weight" rating in a research report on Monday, March 10th. KeyCorp lowered their target price 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. Citigroup reduced their price target on Rocket Lab USA from $35.00 to $33.00 and set a "buy" rating for the company in a research report on Friday, February 28th. The Goldman Sachs Group raised their price target on Rocket Lab USA from $12.00 to $13.50 and gave the company a "neutral" rating in a report on Thursday, January 16th. Finally, Wells Fargo & Company reduced their price objective on shares of Rocket Lab USA from $21.00 to $18.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $23.25.

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.