Two Sigma Advisers LP Makes New $72.62 Million Investment in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Two Sigma Advisers LP purchased a new stake in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,851,300 shares of the rocket manufacturer's stock, valued at approximately $72,623,000. Two Sigma Advisers LP owned about 0.57% of Rocket Lab USA as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the company. Spectrum Wealth Counsel LLC purchased a new stake in Rocket Lab USA during the fourth quarter valued at approximately $25,000. Sandy Spring Bank purchased a new position in Rocket Lab USA in the fourth quarter worth $26,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Rocket Lab USA during the fourth quarter worth $40,000. Quarry LP acquired a new position in shares of Rocket Lab USA during the fourth quarter worth $48,000. Finally, NewEdge Advisors LLC boosted its position in shares of Rocket Lab USA by 1,000.0% in the 4th 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 in the last quarter. 71.78% of the stock is owned by hedge funds and other institutional investors.

Rocket Lab USA Stock Performance

Shares of NASDAQ RKLB traded up $0.65 during trading on Thursday, reaching $25.82. 18,591,477 shares of the company traded hands, compared to its average volume of 16,024,913. The firm's fifty day simple moving average is $20.64 and its 200 day simple moving average is $22.71. 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 stock has a market cap of $11.71 billion, a P/E ratio of -69.78 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.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The rocket manufacturer reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.02). The firm had revenue of $122.57 million during the quarter, compared to analysts' expectations 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 firm's quarterly revenue was up 32.1% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.09) EPS. As a group, research analysts anticipate that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current fiscal year.

Insider Activity

In other Rocket Lab USA news, insider Frank Klein sold 44,553 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $18.18, for a total transaction of $809,973.54. Following the completion of the transaction, the insider now owns 1,419,479 shares of the company's stock, valued at $25,806,128.22. This represents a 3.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 13.70% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. The Goldman Sachs Group upped their target price on Rocket Lab USA from $14.35 to $16.00 and gave the company a "neutral" rating in a research report on Monday, May 12th. Citigroup dropped their price target on Rocket Lab USA from $35.00 to $33.00 and set a "buy" rating on the stock in a research note on Friday, February 28th. Morgan Stanley increased their price objective on shares of Rocket Lab USA from $18.00 to $20.00 and gave the company an "equal weight" rating in a research report on Monday, March 10th. KeyCorp cut their price target on shares of Rocket Lab USA from $32.00 to $28.00 and set an "overweight" rating on the stock in a research note on Friday, February 28th. Finally, Wells Fargo & Company lowered their price target on Rocket Lab USA from $21.00 to $18.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Five 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $23.50.

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.