Baird Financial Group Inc. Sells 214,301 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB)

Baird Financial Group Inc. decreased its position in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) by 53.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 187,729 shares of the rocket manufacturer's stock after selling 214,301 shares during the quarter. Baird Financial Group Inc.'s holdings in Rocket Lab USA were worth $4,781,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. BNP Paribas Financial Markets bought a new position in shares of Rocket Lab USA during the fourth quarter worth $56,977,000. Ameriprise Financial Inc. acquired a new stake in Rocket Lab USA during the 4th quarter worth $31,601,000. Algert Global LLC acquired a new position in Rocket Lab USA in the fourth quarter valued at about $1,495,000. Gallagher Fiduciary Advisors LLC bought a new stake in shares of Rocket Lab USA in the fourth quarter worth about $272,000. Finally, Mercer Global Advisors Inc. ADV raised its position in shares of Rocket Lab USA by 142.4% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 67,801 shares of the rocket manufacturer's stock worth $1,727,000 after purchasing an additional 39,832 shares during the period. Institutional investors and hedge funds own 71.78% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on RKLB shares. Needham & Company LLC initiated coverage on Rocket Lab USA in a research note on Friday, April 25th. They set a "buy" rating and a $28.00 target price for the company. Wells Fargo & Company lowered 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 research report on Tuesday, April 8th. 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 research report on Monday, March 10th. KeyCorp reduced their target price on shares of Rocket Lab USA from $32.00 to $28.00 and set an "overweight" rating for the company in a research note on Friday, February 28th. Finally, TD Cowen raised Rocket Lab USA to a "strong-buy" rating in a research note on Monday, February 24th. Five investment 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. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $23.25.

Rocket Lab USA Stock Performance

RKLB opened at $20.56 on Friday. The business's 50-day simple moving average is $19.69 and its 200 day simple moving average is $21.98. Rocket Lab USA, Inc. has a 52-week low of $3.98 and a 52-week high of $33.34. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58. The firm has a market capitalization of $9.32 billion, a PE ratio of -55.57 and a beta of 2.04.

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

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 dated Monday, March 17th. The shares were sold at an average price of $19.93, for a total value of $36,571.55. Following the sale, the insider now directly owns 1,417,644 shares of the company's stock, valued at approximately $28,253,644.92. This represents a 0.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 13.70% of the company's stock.

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.

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