Harbor Capital Advisors Inc. Has $2.11 Million Stake in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Harbor Capital Advisors Inc. lifted its stake in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) by 25.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 118,237 shares of the rocket manufacturer's stock after acquiring an additional 24,213 shares during the quarter. Harbor Capital Advisors Inc.'s holdings in Rocket Lab USA were worth $2,114,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in RKLB. Empowered Funds LLC bought a new stake in Rocket Lab USA during the 4th quarter valued at approximately $288,000. Wingate Wealth Advisors Inc. bought a new stake in Rocket Lab USA during the 4th quarter valued at approximately $40,000. Van ECK Associates Corp boosted its stake in Rocket Lab USA by 26.9% during the 4th quarter. Van ECK Associates Corp now owns 166,369 shares of the rocket manufacturer's stock valued at $4,237,000 after purchasing an additional 35,293 shares during the period. Roman Butler Fullerton & Co. bought a new stake in Rocket Lab USA during the 4th quarter valued at approximately $191,000. Finally, Valeo Financial Advisors LLC bought a new stake in Rocket Lab USA during the 4th quarter valued at approximately $233,000. Institutional investors own 71.78% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on RKLB shares. KeyCorp restated an "overweight" rating on shares of Rocket Lab USA in a research note on Tuesday, June 3rd. Citigroup cut their price target on Rocket Lab USA from $35.00 to $33.00 and set a "buy" rating for the company in a report on Friday, February 28th. Wells Fargo & Company cut their price target on Rocket Lab USA from $21.00 to $18.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. The Goldman Sachs Group upped their price target on Rocket Lab USA from $14.35 to $16.00 and gave the company a "neutral" rating in a report on Monday, May 12th. Finally, Needham & Company LLC upped their price target on Rocket Lab USA from $28.00 to $32.00 and gave the company a "buy" rating in a report on Wednesday, May 28th. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $26.18.

Insider Buying and Selling at Rocket Lab USA

In other news, insider Frank Klein sold 2,546 shares of the firm's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $30.00, for a total value of $76,380.00. Following the transaction, the insider now directly owns 1,365,826 shares in the company, valued at $40,974,780. This trade represents a 0.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Arjun Kampani sold 5,277 shares of the firm's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $29.97, for a total value of $158,151.69. Following the sale, the insider now directly owns 569,606 shares in the company, valued at $17,071,091.82. The trade was a 0.92% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 100,124 shares of company stock worth $2,707,506. Insiders own 13.70% of the company's stock.

Rocket Lab USA Price Performance

Shares of RKLB traded down $0.99 during mid-day trading on Friday, reaching $25.41. The company had a trading volume of 15,510,576 shares, compared to its average volume of 17,076,145. The company's 50-day moving average is $23.54 and its 200-day moving average is $23.79. Rocket Lab USA, Inc. has a twelve month low of $4.20 and a twelve month high of $33.34. The company has a market capitalization of $11.52 billion, a P/E ratio of -68.67 and a beta of 2.08. 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 (NASDAQ:RKLB - Get Free Report) last released its quarterly earnings results 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 business had revenue of $122.57 million for the quarter, compared to analyst estimates of $120.74 million. During the same period in the prior year, the business earned ($0.09) earnings per share. The company's revenue for the quarter was up 32.1% on a year-over-year basis. On average, equities analysts anticipate that Rocket Lab USA, Inc. will post -0.38 EPS for the current 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.