Smith Anglin Financial LLC Has $487,000 Holdings in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Smith Anglin Financial LLC lifted its holdings in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) by 132.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,261 shares of the rocket manufacturer's stock after buying an additional 15,515 shares during the period. Smith Anglin Financial LLC's holdings in Rocket Lab USA were worth $487,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at Rocket Lab USA

In other Rocket Lab USA news, insider Frank Klein sold 1,835 shares of the company's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $19.93, for a total transaction of $36,571.55. Following the sale, the insider now directly owns 1,417,644 shares of the company's stock, valued at approximately $28,253,644.92. This represents a 0.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Arjun Kampani sold 5,277 shares of Rocket Lab USA stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $29.97, for a total transaction of $158,151.69. Following the completion of the transaction, the insider now owns 569,606 shares of the company's stock, valued at $17,071,091.82. This trade represents a 0.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 136,937 shares of company stock worth $3,285,279 over the last three months. Company insiders own 13.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on RKLB shares. Roth Capital raised their price objective on Rocket Lab USA from $25.00 to $35.00 and gave the stock a "buy" rating in a research note on Wednesday, May 28th. Needham & Company LLC boosted their price objective on shares of Rocket Lab USA from $28.00 to $32.00 and gave the company a "buy" rating in a research report on Wednesday, May 28th. Wells Fargo & Company cut their target price on shares of Rocket Lab USA from $21.00 to $18.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Citigroup lowered their price target on shares of Rocket Lab USA from $35.00 to $33.00 and set a "buy" rating on the stock in a report on Friday, February 28th. Finally, TD Cowen raised shares of Rocket Lab USA to a "strong-buy" rating in a research note on Monday, February 24th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Rocket Lab USA presently has a consensus rating of "Moderate Buy" and an average price target of $25.18.

Rocket Lab USA Stock Performance

Shares of RKLB stock traded down $0.46 during trading hours on Thursday, reaching $26.45. 21,794,314 shares of the company's stock were exchanged, compared to its average volume of 16,458,443. Rocket Lab USA, Inc. has a fifty-two week low of $4.20 and a fifty-two week high of $33.34. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $12.00 billion, a P/E ratio of -71.48 and a beta of 2.04. The business has a fifty day moving average price of $22.20 and a 200-day moving average price of $23.54.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last issued 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). Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. The firm had revenue of $122.57 million during the quarter, compared to analyst estimates of $120.74 million. The business's revenue for the quarter was up 32.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.09) earnings per share. Analysts predict that Rocket Lab USA, Inc. will post -0.38 EPS for the current fiscal year.

About Rocket Lab USA

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.