Quantinno Capital Management LP bought a new stake in Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 10,071 shares of the rocket manufacturer's stock, valued at approximately $257,000.
Other institutional investors have also made changes to their positions in the company. Spectrum Wealth Counsel LLC purchased a new position in Rocket Lab USA during the 4th quarter valued at about $25,000. Sandy Spring Bank purchased a new position in shares of Rocket Lab USA in the fourth quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Rocket Lab USA in the fourth quarter valued at approximately $40,000. Quarry LP purchased a new stake in Rocket Lab USA during the 4th quarter worth approximately $48,000. Finally, NewEdge Advisors LLC lifted its holdings in Rocket Lab USA by 1,000.0% during the 4th 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 and hedge funds.
Insider Activity at Rocket Lab USA
In other Rocket Lab USA news, insider Frank Klein sold 1,835 shares of Rocket Lab USA stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $19.93, for a total value of $36,571.55. Following the sale, the insider now owns 1,417,644 shares of the company's stock, valued at approximately $28,253,644.92. The trade was a 0.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 13.70% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
Several equities analysts have commented on the stock. Morgan Stanley boosted their price target on shares of 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. KeyCorp lowered 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. The Goldman Sachs Group increased their price target 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. TD Cowen raised Rocket Lab USA to a "strong-buy" rating in a research report on Monday, February 24th. Finally, Stifel Nicolaus raised their target price on shares of Rocket Lab USA from $29.00 to $34.00 and gave the company a "buy" rating in a report on Wednesday. Five analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Rocket Lab USA has an average rating of "Moderate Buy" and an average price target of $25.18.
Get Our Latest Analysis on RKLB
Rocket Lab USA Stock Down 1.5%
Shares of Rocket Lab USA stock traded down $0.41 during trading hours on Friday, hitting $26.95. The company had a trading volume of 5,039,957 shares, compared to its average volume of 18,059,480. 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 company's 50-day moving average is $21.60 and its two-hundred day moving average is $23.29. The company has a market cap of $12.22 billion, a P/E ratio of -72.88 and a beta of 2.04. Rocket Lab USA, Inc. has a twelve month low of $4.15 and a twelve month high of $33.34.
Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last posted its earnings results on Thursday, May 8th. The rocket manufacturer reported ($0.12) EPS for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.02). The firm had revenue of $122.57 million for the quarter, compared to analyst estimates 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 firm's revenue for the quarter was up 32.1% on a year-over-year basis. During the same quarter last year, the firm posted ($0.09) EPS. Analysts anticipate that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current fiscal year.
About Rocket Lab USA
(
Free Report)
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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