Quantinno Capital Management LP Takes $257,000 Position in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Quantinno Capital Management LP acquired a new position in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 10,071 shares of the rocket manufacturer's stock, valued at approximately $257,000.

A number of other hedge funds have also recently added to or reduced their stakes in RKLB. Man Group plc acquired a new stake in shares of Rocket Lab USA in the 4th quarter valued at $10,157,000. Nomura Holdings Inc. bought a new stake in Rocket Lab USA during the 4th quarter worth $1,339,000. Nuveen Asset Management LLC grew its position in Rocket Lab USA by 30.2% during the 4th quarter. Nuveen Asset Management LLC now owns 1,999,363 shares of the rocket manufacturer's stock worth $50,924,000 after acquiring an additional 463,325 shares during the last quarter. Numerai GP LLC bought a new stake in Rocket Lab USA during the 4th quarter worth $333,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Rocket Lab USA by 4.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 197,995 shares of the rocket manufacturer's stock worth $5,043,000 after acquiring an additional 7,535 shares during the last quarter. Institutional investors own 71.78% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. KeyCorp reduced their price objective on Rocket Lab USA from $32.00 to $28.00 and set an "overweight" rating on the stock in a research report on Friday, February 28th. Wells Fargo & Company cut their target price on Rocket Lab USA from $21.00 to $18.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Stifel Nicolaus lifted their target price on Rocket Lab USA from $29.00 to $34.00 and gave the stock a "buy" rating in a report on Wednesday. Needham & Company LLC lifted their target price on Rocket Lab USA from $28.00 to $32.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, TD Cowen raised Rocket Lab USA to a "strong-buy" rating in a report on Monday, February 24th. 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 stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $25.18.

Rocket Lab USA Stock Down 5.5%

RKLB stock traded down $1.58 on Thursday, reaching $27.35. 13,374,986 shares of the company traded hands, compared to its average volume of 16,256,899. Rocket Lab USA, Inc. has a one year low of $4.15 and a one year high of $33.34. 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 has a market cap of $12.40 billion, a P/E ratio of -73.98 and a beta of 2.04. The firm has a fifty day simple moving average of $21.46 and a 200-day simple moving average of $23.20.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The rocket manufacturer reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.02). Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. The firm had revenue of $122.57 million during the quarter, compared to the consensus estimate of $120.74 million. During the same period in the previous year, the firm earned ($0.09) EPS. The business's revenue was up 32.1% on a year-over-year basis. Research analysts anticipate that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Frank Klein sold 1,835 shares of Rocket Lab USA stock in a transaction 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 completion of the sale, the insider now owns 1,417,644 shares of the company's stock, valued at $28,253,644.92. The trade was a 0.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 13.70% of the stock is currently owned by corporate 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.