Driehaus Capital Management LLC purchased a new stake in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 1,412,931 shares of the rocket manufacturer's stock, valued at approximately $35,987,000. Driehaus Capital Management LLC owned 0.28% of Rocket Lab USA at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Spectrum Wealth Counsel LLC purchased a new stake in Rocket Lab USA during the 4th quarter valued at approximately $25,000. Sandy Spring Bank purchased a new stake in Rocket Lab USA in the fourth quarter worth about $26,000. Wingate Wealth Advisors Inc. bought a new stake in Rocket Lab USA during the 4th quarter valued at $40,000. Quarry LP purchased a new position in shares of Rocket Lab USA in the 4th quarter worth approximately $48,000. Finally, NewEdge Advisors LLC raised its stake in Rocket Lab USA by 1,000.0% in the fourth quarter. NewEdge Advisors LLC now owns 1,925 shares of the rocket manufacturer's stock valued at $49,000 after buying an additional 1,750 shares during the last quarter. 71.78% of the stock is currently owned by institutional investors.
Insider Activity
In other Rocket Lab USA news, insider Frank Klein sold 1,835 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $19.93, for a total value of $36,571.55. Following the sale, the insider now owns 1,417,644 shares in the company, valued at $28,253,644.92. This represents a 0.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 13.70% of the stock is currently owned by company insiders.
Rocket Lab USA Stock Performance
Shares of RKLB opened at $23.08 on Friday. The firm's 50 day moving average is $19.66 and its 200-day moving average is $21.91. The stock has a market capitalization of $10.47 billion, a P/E ratio of -62.36 and a beta of 2.04. 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, Inc. has a 12-month low of $3.98 and a 12-month high of $33.34.
Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The rocket manufacturer reported ($0.12) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.12). Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. Rocket Lab USA's quarterly revenue was up 32.1% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.09) earnings per share. Equities research analysts anticipate that Rocket Lab USA, Inc. will post -0.38 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on the stock. The Goldman Sachs Group increased their price objective on shares of Rocket Lab USA from $12.00 to $13.50 and gave the stock a "neutral" rating in a research note on Thursday, January 16th. Wells Fargo & Company cut their target price on 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. Needham & Company LLC initiated coverage on shares of Rocket Lab USA in a research report on Friday, April 25th. They set a "buy" rating and a $28.00 price target for the company. Morgan Stanley increased their price objective on Rocket Lab USA from $18.00 to $20.00 and gave the company an "equal weight" rating in a research note on Monday, March 10th. Finally, Citigroup dropped their price objective on Rocket Lab USA from $35.00 to $33.00 and set a "buy" rating on the stock in a report on Friday, February 28th. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Rocket Lab USA presently has a consensus rating of "Moderate Buy" and a consensus target price of $23.25.
Check Out Our Latest Stock Analysis on RKLB
Rocket Lab USA Company Profile
(
Free Report)
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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