58,700 Shares in Rocket Lab USA, Inc. (NASDAQ:RKLB) Acquired by Algert Global LLC

Algert Global LLC purchased a new stake in Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 58,700 shares of the rocket manufacturer's stock, valued at approximately $1,495,000.

Other hedge funds have also added to or reduced their stakes in the company. FMR LLC raised its holdings in Rocket Lab USA by 30,853.3% in the 4th quarter. FMR LLC now owns 3,696,136 shares of the rocket manufacturer's stock valued at $94,141,000 after acquiring an additional 3,684,195 shares during the period. Renaissance Technologies LLC increased its stake in shares of Rocket Lab USA by 1,765.4% during the fourth quarter. Renaissance Technologies LLC now owns 1,818,800 shares of the rocket manufacturer's stock worth $46,325,000 after purchasing an additional 1,721,300 shares during the period. Hsbc Holdings PLC lifted its holdings in Rocket Lab USA by 3,592.0% during the 4th quarter. Hsbc Holdings PLC now owns 1,534,265 shares of the rocket manufacturer's stock worth $39,477,000 after purchasing an additional 1,492,708 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Rocket Lab USA in the 4th quarter valued at $21,896,000. Finally, Invesco Ltd. grew its holdings in Rocket Lab USA by 41.1% in the 4th quarter. Invesco Ltd. now owns 2,394,732 shares of the rocket manufacturer's stock valued at $60,994,000 after buying an additional 697,574 shares in the last quarter. Institutional investors and hedge funds own 71.78% of the company's stock.

Rocket Lab USA Trading Down 11.0 %

Shares of RKLB stock opened at $20.56 on Friday. The company has a market cap of $9.32 billion, a P/E ratio of -55.57 and a beta of 2.04. Rocket Lab USA, Inc. has a fifty-two week low of $3.98 and a fifty-two week high of $33.34. The stock has a 50 day simple moving average of $19.69 and a two-hundred day simple moving average of $21.98. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The rocket manufacturer reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.02). The firm had revenue of $122.57 million during the quarter, compared to the consensus estimate of $120.74 million. Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. The firm's revenue was up 32.1% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.09) EPS. Research analysts forecast that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current year.

Analysts Set New Price Targets

RKLB has been the subject of a number of recent research reports. Morgan Stanley boosted their price objective on shares of Rocket Lab USA from $18.00 to $20.00 and gave the company an "equal weight" rating in a report on Monday, March 10th. Citigroup reduced their price target on Rocket Lab USA from $35.00 to $33.00 and set a "buy" rating on the stock in a research report on Friday, February 28th. Wells Fargo & Company dropped their price objective on 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. Needham & Company LLC started coverage on Rocket Lab USA in a report on Friday, April 25th. They set a "buy" rating and a $28.00 target price on the stock. Finally, TD Cowen raised Rocket Lab USA to a "strong-buy" rating in a research note on Monday, February 24th. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $23.25.

Insider Buying and Selling at Rocket Lab USA

In other news, insider Frank Klein sold 1,835 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $19.93, for a total value of $36,571.55. Following the completion of the transaction, the insider now directly owns 1,417,644 shares of the company's stock, valued at $28,253,644.92. This represents a 0.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 13.70% of the company's stock.

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.

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