Comerica Bank Has $9.20 Million Stake in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Comerica Bank boosted its holdings in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) by 469.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 361,364 shares of the rocket manufacturer's stock after buying an additional 297,882 shares during the period. Comerica Bank owned about 0.07% of Rocket Lab USA worth $9,204,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Rocket Lab USA by 1.9% in the fourth 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 during the period. Geode Capital Management LLC increased its position in shares of 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 purchasing an additional 32,658 shares in the last quarter. FMR LLC increased its position in shares of 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 purchasing an additional 3,684,195 shares in the last quarter. Northern Trust Corp boosted its position in Rocket Lab USA by 9.5% in the fourth quarter. Northern Trust Corp now owns 3,227,617 shares of the rocket manufacturer's stock valued at $82,207,000 after buying an additional 281,339 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Rocket Lab USA by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,902,212 shares of the rocket manufacturer's stock worth $73,919,000 after buying an additional 23,855 shares during the last quarter. Institutional investors own 71.78% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Stifel Nicolaus lifted their target price on shares of Rocket Lab USA from $26.00 to $31.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. Morgan Stanley boosted their price objective on Rocket Lab USA from $18.00 to $20.00 and gave the stock an "equal weight" rating in a research note on Monday, March 10th. Citigroup lowered their target price on Rocket Lab USA from $35.00 to $33.00 and set a "buy" rating for the company in a research note on Friday, February 28th. Wells Fargo & Company reduced their price target on shares of 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. Finally, TD Cowen raised shares of Rocket Lab USA to a "strong-buy" rating in a report on Monday, February 24th. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $23.25.

Insider Transactions at Rocket Lab USA

In related news, insider Frank Klein sold 1,835 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $19.93, for a total transaction of $36,571.55. Following the completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 13.70% of the stock is currently owned by insiders.

Rocket Lab USA Trading Down 0.5 %

NASDAQ RKLB traded down $0.10 during trading hours on Wednesday, hitting $22.27. The company's stock had a trading volume of 7,722,292 shares, compared to its average volume of 15,518,677. Rocket Lab USA, Inc. has a twelve month low of $3.66 and a twelve month high of $33.34. The firm has a market capitalization of $10.10 billion, a P/E ratio of -60.18 and a beta of 2.04. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. The stock has a fifty day moving average of $19.53 and a 200 day moving average of $21.83.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last issued its earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share (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 the consensus estimate of $130.58 million. Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. Equities research analysts forecast that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current fiscal year.

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.