Ameriprise Financial Inc. Purchases Shares of 1,240,381 Rocket Lab USA, Inc. (NASDAQ:RKLB)

Ameriprise Financial Inc. purchased a new stake in Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,240,381 shares of the rocket manufacturer's stock, valued at approximately $31,601,000. Ameriprise Financial Inc. owned approximately 0.25% of Rocket Lab USA at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of Rocket Lab USA by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 36,195,577 shares of the rocket manufacturer's stock valued at $921,901,000 after acquiring an additional 668,093 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Rocket Lab USA by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 8,285,693 shares of the rocket manufacturer's stock worth $211,084,000 after acquiring an additional 32,658 shares during the last quarter. FMR LLC boosted its holdings in Rocket Lab USA by 30,853.3% during the 4th quarter. FMR LLC now owns 3,696,136 shares of the rocket manufacturer's stock worth $94,141,000 after acquiring an additional 3,684,195 shares during the last quarter. Northern Trust Corp boosted its holdings in Rocket Lab USA by 9.5% during the 4th quarter. Northern Trust Corp now owns 3,227,617 shares of the rocket manufacturer's stock worth $82,207,000 after acquiring an additional 281,339 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Rocket Lab USA by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,902,212 shares of the rocket manufacturer's stock worth $73,919,000 after acquiring an additional 23,855 shares during the last quarter. 71.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Rocket Lab USA

In other news, insider Frank Klein sold 1,835 shares of Rocket Lab USA stock in a transaction dated 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 owns 1,417,644 shares of the company's stock, valued at $28,253,644.92. The trade was a 0.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 13.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on RKLB shares. Needham & Company LLC reissued a "buy" rating and issued a $28.00 price target on shares of Rocket Lab USA in a report on Tuesday. TD Cowen upgraded Rocket Lab USA to a "strong-buy" rating in a research report on Monday, February 24th. Wells Fargo & Company decreased their price target on Rocket Lab USA from $21.00 to $18.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. KeyCorp decreased their price objective on shares of 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. Finally, The Goldman Sachs Group upped their price objective on shares of Rocket Lab USA from $14.35 to $16.00 and gave the stock a "neutral" rating in a research report on Monday, May 12th. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $23.50.

Rocket Lab USA Trading Up 1.4%

Rocket Lab USA stock traded up $0.35 during mid-day trading on Friday, reaching $25.57. 23,678,845 shares of the company traded hands, compared to its average volume of 15,869,435. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16. The firm's 50 day moving average price is $20.19 and its 200 day moving average price is $22.40. The firm has a market capitalization of $11.60 billion, a price-to-earnings ratio of -69.11 and a beta of 2.04. Rocket Lab USA, Inc. has a 52-week low of $4.15 and a 52-week high of $33.34.

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

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.