Rocket Lab USA, Inc. (NASDAQ:RKLB) Holdings Raised by Rhumbline Advisers

Rhumbline Advisers increased its position in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) by 9.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 525,018 shares of the rocket manufacturer's stock after purchasing an additional 45,889 shares during the quarter. Rhumbline Advisers owned 0.12% of Rocket Lab USA worth $9,387,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of RKLB. Spectrum Wealth Counsel LLC purchased a new stake in shares of Rocket Lab USA in the 4th quarter worth about $25,000. Sandy Spring Bank acquired a new position in Rocket Lab USA during the fourth quarter worth about $26,000. Versant Capital Management Inc lifted its holdings in shares of Rocket Lab USA by 118.1% in the first quarter. Versant Capital Management Inc now owns 1,588 shares of the rocket manufacturer's stock valued at $28,000 after purchasing an additional 860 shares in the last quarter. MassMutual Private Wealth & Trust FSB purchased a new stake in shares of Rocket Lab USA in the first quarter valued at about $29,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in shares of Rocket Lab USA in the fourth quarter valued at approximately $40,000. 71.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Arjun Kampani sold 5,194 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $26.52, for a total value of $137,744.88. Following the sale, the insider now owns 535,424 shares of the company's stock, valued at approximately $14,199,444.48. This trade represents a 0.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Frank Klein sold 1,835 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $19.93, for a total transaction of $36,571.55. Following the completion of the sale, the insider now owns 1,417,644 shares in the company, valued at $28,253,644.92. The trade was a 0.13% decrease in their position. The disclosure for this sale can be found here. Insiders sold 100,124 shares of company stock worth $2,707,506 over the last ninety days. Corporate insiders own 13.70% of the company's stock.

Rocket Lab USA Trading Down 3.7%

Shares of NASDAQ:RKLB traded down $0.99 during trading on Friday, reaching $25.41. 15,510,576 shares of the stock were exchanged, compared to its average volume of 17,076,137. The firm's 50-day moving average price is $23.38 and its 200 day moving average price is $23.79. The firm has a market cap of $11.52 billion, a price-to-earnings ratio of -68.67 and a beta of 2.08. Rocket Lab USA, Inc. has a 12-month low of $4.20 and a 12-month high of $33.34. 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 (NASDAQ:RKLB - Get Free Report) last released its quarterly earnings results 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 company had revenue of $122.57 million for the quarter, compared to analyst estimates of $120.74 million. During the same period last year, the firm posted ($0.09) earnings per share. The business's revenue was up 32.1% on a year-over-year basis. On average, sell-side analysts anticipate that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on RKLB. Roth Capital upped their target price on Rocket Lab USA from $25.00 to $35.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. KeyCorp reaffirmed an "overweight" rating on shares of Rocket Lab USA in a research note on Tuesday, June 3rd. Needham & Company LLC lifted their price objective on Rocket Lab USA from $28.00 to $32.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. Morgan Stanley upped their target price on shares of Rocket Lab USA from $18.00 to $20.00 and gave the company an "equal weight" rating in a report on Monday, March 10th. Finally, The Goldman Sachs Group raised their price target on shares of Rocket Lab USA from $14.35 to $16.00 and gave the stock a "neutral" rating in a research note on Monday, May 12th. 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 data from MarketBeat.com, Rocket Lab USA has an average rating of "Moderate Buy" and a consensus price target of $26.18.

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.