Dimensional Fund Advisors LP Reduces Stock Position in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Dimensional Fund Advisors LP decreased its holdings in Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) by 63.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,316,655 shares of the rocket manufacturer's stock after selling 2,274,081 shares during the period. Dimensional Fund Advisors LP owned about 0.26% of Rocket Lab USA worth $33,546,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. First Trust Advisors LP increased its stake in Rocket Lab USA by 90.2% in the 4th quarter. First Trust Advisors LP now owns 789,266 shares of the rocket manufacturer's stock worth $20,103,000 after buying an additional 374,356 shares during the period. Marshall Wace LLP purchased a new position in shares of Rocket Lab USA during the fourth quarter worth approximately $322,000. NewEdge Advisors LLC raised its stake 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 valued at $49,000 after acquiring an additional 1,750 shares in the last quarter. EAM Global Investors LLC purchased a new stake in shares of Rocket Lab USA in the fourth quarter valued at approximately $6,335,000. Finally, EAM Investors LLC bought a new position in Rocket Lab USA in the fourth quarter worth approximately $5,855,000. 71.78% of the stock is currently owned by institutional investors.

Rocket Lab USA Stock Performance

Shares of RKLB opened at $22.99 on Monday. Rocket Lab USA, Inc. has a 12 month low of $3.66 and a 12 month high of $33.34. The stock has a fifty day moving average price of $19.46 and a 200-day moving average price of $21.74. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97. The firm has a market cap of $10.43 billion, a PE ratio of -62.13 and a beta of 2.08.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.01). Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. The business had revenue of $132.39 million during the quarter, compared to analyst estimates of $130.58 million. Equities research analysts predict that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on RKLB shares. Stifel Nicolaus upped their target price on Rocket Lab USA from $26.00 to $31.00 and gave the stock a "buy" rating in a report on Wednesday, January 8th. 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 note on Tuesday, April 8th. TD Cowen raised shares of Rocket Lab USA to a "strong-buy" rating in a research report on Monday, February 24th. The Goldman Sachs Group upped their price target on shares of Rocket Lab USA from $12.00 to $13.50 and gave the stock a "neutral" rating in a research report on Thursday, January 16th. Finally, Needham & Company LLC initiated coverage on shares of Rocket Lab USA in a report on Friday, April 25th. They set a "buy" rating and a $28.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $23.25.

Insiders Place Their Bets

In other news, insider Frank Klein sold 1,835 shares of Rocket Lab USA stock in a transaction 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 completion of the sale, the insider now directly owns 1,417,644 shares in the company, valued at approximately $28,253,644.92. The trade was a 0.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 13.70% of the stock is owned by insiders.

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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