Wellington Management Group LLP Makes New $17.26 Million Investment in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Wellington Management Group LLP purchased a new stake in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 677,687 shares of the rocket manufacturer's stock, valued at approximately $17,261,000. Wellington Management Group LLP owned approximately 0.15% of Rocket Lab USA at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Spectrum Wealth Counsel LLC purchased a new stake in shares of Rocket Lab USA during the fourth quarter valued at about $25,000. Sandy Spring Bank acquired a new position in shares of Rocket Lab USA in the 4th quarter valued at $26,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Rocket Lab USA in the 4th quarter valued at $40,000. Quarry LP purchased a new stake in Rocket Lab USA in the 4th quarter worth $48,000. Finally, NewEdge Advisors LLC increased its holdings in 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 acquiring an additional 1,750 shares in the last quarter. Hedge funds and other institutional investors own 71.78% of the company's stock.

Rocket Lab USA Stock Down 0.3%

RKLB stock traded down $0.09 during mid-day trading on Thursday, reaching $26.82. The company had a trading volume of 5,017,549 shares, compared to its average volume of 16,371,513. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16. The stock has a 50 day simple moving average of $22.20 and a two-hundred day simple moving average of $23.54. The company has a market capitalization of $12.16 billion, a price-to-earnings ratio of -72.65 and a beta of 2.04. Rocket Lab USA, Inc. has a 52 week low of $4.20 and a 52 week high of $33.34.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last issued its earnings results on Thursday, May 8th. The rocket manufacturer reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.02). The business 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%. The business's revenue was up 32.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.09) earnings per share. As a group, equities analysts predict that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Frank Klein sold 1,818 shares of the company's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $26.51, for a total transaction of $48,195.18. Following the sale, the insider now owns 1,368,372 shares in the company, valued at $36,275,541.72. This represents a 0.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Arjun Kampani sold 28,988 shares of the stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $26.66, for a total value of $772,820.08. Following the completion of the transaction, the insider now owns 540,618 shares in the company, valued at approximately $14,412,875.88. The trade was a 5.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 136,937 shares of company stock worth $3,285,279 in the last 90 days. Insiders own 13.70% of the company's stock.

Analysts Set New Price Targets

RKLB has been the subject of a number of analyst reports. Needham & Company LLC upped their price objective on shares of Rocket Lab USA from $28.00 to $32.00 and gave the company a "buy" rating in a report on Wednesday, May 28th. KeyCorp reduced their target price on shares of Rocket Lab USA from $32.00 to $28.00 and set an "overweight" rating on the stock in a report on Friday, February 28th. Citigroup dropped their price target on shares of 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 raised their target price on shares of Rocket Lab USA from $18.00 to $20.00 and gave the stock an "equal weight" rating in a research report on Monday, March 10th. Finally, Roth Capital increased their price target on Rocket Lab USA from $25.00 to $35.00 and gave the stock a "buy" rating in a report on Wednesday, May 28th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Rocket Lab USA presently has a consensus rating of "Moderate Buy" and a consensus target price of $25.18.

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.