BNP Paribas Financial Markets Buys Shares of 2,237,026 Rocket Lab USA, Inc. (NASDAQ:RKLB)

BNP Paribas Financial Markets bought a new stake in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,237,026 shares of the rocket manufacturer's stock, valued at approximately $56,977,000. BNP Paribas Financial Markets owned approximately 0.45% of Rocket Lab USA at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Spectrum Wealth Counsel LLC bought a new position in shares of Rocket Lab USA during the fourth quarter worth about $25,000. Sandy Spring Bank bought a new position in shares of Rocket Lab USA during the fourth quarter worth about $26,000. Wingate Wealth Advisors Inc. bought a new position in shares of Rocket Lab USA during the fourth quarter worth about $40,000. Quarry LP bought a new position in shares of Rocket Lab USA during the fourth quarter worth about $48,000. Finally, NewEdge Advisors LLC lifted 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 purchasing an additional 1,750 shares during the last quarter. 71.78% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Frank Klein sold 1,835 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $19.93, for a total transaction of $36,571.55. Following the transaction, the insider now directly owns 1,417,644 shares of the company's stock, valued at approximately $28,253,644.92. This trade represents a 0.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 13.70% of the company's stock.

Rocket Lab USA Trading Up 2.9%

Shares of NASDAQ RKLB traded up $0.60 during midday trading on Monday, reaching $21.11. 7,453,035 shares of the stock were exchanged, compared to its average volume of 15,619,538. The business has a 50-day simple moving average of $19.69 and a two-hundred day simple moving average of $22.13. The company has a market capitalization of $9.57 billion, a price-to-earnings ratio of -56.95 and a beta of 2.04. Rocket Lab USA, Inc. has a 12 month low of $4.15 and a 12 month high of $33.34. 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 - Get Free Report) last posted 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 company had revenue of $122.57 million during the quarter, compared to the consensus estimate 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 company's revenue was up 32.1% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.09) earnings per share. As a group, equities research analysts expect that Rocket Lab USA, Inc. will post -0.38 EPS for the current year.

Analyst Upgrades and Downgrades

RKLB has been the topic of a number of recent analyst reports. The Goldman Sachs Group lifted 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. Morgan Stanley boosted 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. TD Cowen raised Rocket Lab USA to a "strong-buy" rating in a report on Monday, February 24th. Needham & Company LLC began 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, KeyCorp dropped their target price on Rocket Lab USA from $32.00 to $28.00 and set an "overweight" rating on the stock in a report on Friday, February 28th. Five 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 stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $23.25.

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.