Cresset Asset Management LLC Has $354,000 Stake in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Cresset Asset Management LLC trimmed its stake in Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) by 45.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,900 shares of the rocket manufacturer's stock after selling 11,598 shares during the period. Cresset Asset Management LLC's holdings in Rocket Lab USA were worth $354,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in RKLB. FMR LLC boosted 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 valued at $94,141,000 after acquiring an additional 3,684,195 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of Rocket Lab USA during the 4th quarter valued at about $56,977,000. Renaissance Technologies LLC boosted its position in shares of Rocket Lab USA by 1,765.4% during the 4th quarter. Renaissance Technologies LLC now owns 1,818,800 shares of the rocket manufacturer's stock valued at $46,325,000 after acquiring an additional 1,721,300 shares in the last quarter. 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 valued at $39,477,000 after purchasing an additional 1,492,708 shares during the last quarter. Finally, Ameriprise Financial Inc. bought a new position in Rocket Lab USA during the 4th quarter valued at about $31,601,000. 71.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RKLB has been the subject of several analyst reports. The Goldman Sachs Group lifted their price target on shares of Rocket Lab USA from $14.35 to $16.00 and gave the company a "neutral" rating in a report on Monday, May 12th. KeyCorp cut their price target on shares of Rocket Lab USA from $32.00 to $28.00 and set an "overweight" rating for the company in a report on Friday, February 28th. Wells Fargo & Company cut their price target on shares of 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. Citigroup cut their price target on shares of Rocket Lab USA from $35.00 to $33.00 and set a "buy" rating for the company in a report on Friday, February 28th. Finally, Needham & Company LLC reissued a "buy" rating and set a $28.00 price target on shares of Rocket Lab USA in a report on Tuesday. Five 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 company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $23.50.

Rocket Lab USA Price Performance

RKLB opened at $25.57 on Friday. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. Rocket Lab USA, Inc. has a 12 month low of $4.15 and a 12 month high of $33.34. The company has a fifty day simple moving average of $20.19 and a 200 day simple moving average of $22.40. The stock has a market cap of $11.60 billion, a P/E ratio of -69.11 and a beta of 2.04.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last released its earnings results 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). The firm had revenue of $122.57 million for 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%. Rocket Lab USA's revenue for the quarter was up 32.1% on a year-over-year basis. During the same quarter last year, the company posted ($0.09) EPS. On average, research analysts expect that Rocket Lab USA, Inc. will post -0.38 EPS for the current year.

Insiders Place Their Bets

In other Rocket Lab USA news, insider Frank Klein sold 1,835 shares of the stock in a transaction dated 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 transaction, the insider now owns 1,417,644 shares in the company, 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 is accessible through this link. Corporate insiders own 13.70% of the company's stock.

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.

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