Nuveen Asset Management LLC Grows Stock Position in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Nuveen Asset Management LLC grew its position in Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) by 30.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,999,363 shares of the rocket manufacturer's stock after acquiring an additional 463,325 shares during the quarter. Nuveen Asset Management LLC owned about 0.40% of Rocket Lab USA worth $50,924,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC increased its holdings in shares of Rocket Lab USA by 30,853.3% in the fourth quarter. FMR LLC now owns 3,696,136 shares of the rocket manufacturer's stock valued at $94,141,000 after purchasing an additional 3,684,195 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of Rocket Lab USA in the fourth quarter valued at approximately $56,977,000. Renaissance Technologies LLC increased its holdings in shares of Rocket Lab USA by 1,765.4% in the fourth quarter. Renaissance Technologies LLC now owns 1,818,800 shares of the rocket manufacturer's stock valued at $46,325,000 after purchasing an additional 1,721,300 shares during the last quarter. Hsbc Holdings PLC increased its stake in Rocket Lab USA by 3,592.0% during the fourth quarter. Hsbc Holdings PLC now owns 1,534,265 shares of the rocket manufacturer's stock worth $39,477,000 after acquiring an additional 1,492,708 shares during the last quarter. Finally, Driehaus Capital Management LLC acquired a new stake in Rocket Lab USA during the fourth quarter worth $35,987,000. Hedge funds and other institutional investors own 71.78% of the company's stock.

Wall Street Analyst Weigh In

RKLB has been the subject of several recent analyst reports. 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. The Goldman Sachs Group raised their target price on Rocket Lab USA from $14.35 to $16.00 and gave the stock a "neutral" rating in a research note on Monday, May 12th. KeyCorp cut their target price 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. Morgan Stanley raised their target price on Rocket Lab USA from $18.00 to $20.00 and gave the stock an "equal weight" rating in a research note on Monday, March 10th. Finally, Needham & Company LLC restated a "buy" rating and set a $28.00 price target on shares of Rocket Lab USA in a research report on Tuesday, May 13th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Rocket Lab USA has a consensus rating of "Moderate Buy" and a consensus price target of $23.50.

Rocket Lab USA Trading Up 0.9%

NASDAQ:RKLB opened at $25.80 on Tuesday. The firm has a market cap of $11.70 billion, a PE ratio of -69.73 and a beta of 2.04. The stock has a fifty day moving average price of $20.34 and a 200 day moving average price of $22.67. Rocket Lab USA, Inc. has a 12-month low of $4.15 and a 12-month high of $33.34. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last released its earnings results on Thursday, May 8th. The rocket manufacturer reported ($0.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.02). The company 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 company's revenue for the quarter was up 32.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.09) earnings per share. Sell-side analysts anticipate that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current fiscal year.

Insider Activity at Rocket Lab USA

In related news, insider Frank Klein sold 44,553 shares of the company's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $18.18, for a total value of $809,973.54. Following the sale, the insider now owns 1,419,479 shares of the company's stock, valued at approximately $25,806,128.22. This represents a 3.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 13.70% of the stock is currently owned by insiders.

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.

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