California State Teachers Retirement System Increases Stake in Rocket Lab USA, Inc. (NASDAQ:RKLB)

California State Teachers Retirement System increased its position in Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) by 7.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 303,732 shares of the rocket manufacturer's stock after acquiring an additional 20,241 shares during the quarter. California State Teachers Retirement System owned about 0.07% of Rocket Lab USA worth $7,736,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in RKLB. Spectrum Wealth Counsel LLC bought a new stake in shares of Rocket Lab USA during the 4th quarter valued at $25,000. Sandy Spring Bank purchased a new position in Rocket Lab USA during the 4th quarter valued at about $26,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Rocket Lab USA during the fourth quarter valued at about $40,000. Quarry LP bought a new stake in shares of Rocket Lab USA during the fourth quarter valued at about $48,000. Finally, NewEdge Advisors LLC lifted its holdings in shares of 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 worth $49,000 after buying an additional 1,750 shares in the last quarter. 71.78% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Arjun Kampani sold 5,277 shares of Rocket Lab USA stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $29.97, for a total value of $158,151.69. Following the sale, the insider now owns 569,606 shares in the company, valued at $17,071,091.82. The trade was a 0.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Frank Klein sold 1,818 shares of the company's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $26.51, for a total transaction of $48,195.18. Following the completion of the transaction, the insider now owns 1,368,372 shares of the company's stock, valued at $36,275,541.72. This trade represents a 0.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 136,937 shares of company stock valued at $3,285,279 in the last quarter. Insiders own 13.70% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on RKLB shares. Roth Capital boosted their price objective on shares of Rocket Lab USA from $25.00 to $35.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. Citigroup reduced 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 research report on Friday, February 28th. Stifel Nicolaus increased their price objective on Rocket Lab USA from $29.00 to $34.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. KeyCorp dropped their price objective on Rocket Lab USA from $32.00 to $28.00 and set an "overweight" rating for the company in a research note on Friday, February 28th. Finally, TD Cowen upgraded Rocket Lab USA to a "strong-buy" rating in a research note on Monday, February 24th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $25.18.

Rocket Lab USA Trading Down 0.0%

RKLB stock traded down $0.01 during trading on Wednesday, hitting $26.71. 5,940,096 shares of the company traded hands, compared to its average volume of 16,344,759. The company has a 50-day moving average of $22.04 and a 200-day moving average of $23.52. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58. Rocket Lab USA, Inc. has a 1 year low of $4.20 and a 1 year high of $33.34. The firm has a market capitalization of $12.11 billion, a PE ratio of -72.19 and a beta of 2.04.

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). Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. The company had revenue of $122.57 million for the quarter, compared to analysts' expectations of $120.74 million. During the same period last year, the company posted ($0.09) EPS. The business's revenue for the quarter was up 32.1% compared to the same quarter last year. Analysts predict that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current fiscal year.

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.