Rocket Lab USA, Inc. (NASDAQ:RKLB) Shares Bought by Vident Advisory LLC

Vident Advisory LLC boosted its holdings in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) by 8.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 203,125 shares of the rocket manufacturer's stock after buying an additional 16,396 shares during the quarter. Vident Advisory LLC's holdings in Rocket Lab USA were worth $5,174,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Van ECK Associates Corp lifted its holdings in Rocket Lab USA by 26.9% during the 4th quarter. Van ECK Associates Corp now owns 166,369 shares of the rocket manufacturer's stock worth $4,237,000 after buying an additional 35,293 shares in the last quarter. AlphaCentric Advisors LLC lifted its holdings in Rocket Lab USA by 66.7% during the 4th quarter. AlphaCentric Advisors LLC now owns 25,000 shares of the rocket manufacturer's stock worth $637,000 after buying an additional 10,000 shares in the last quarter. Stratos Wealth Partners LTD. acquired a new stake in Rocket Lab USA during the 4th quarter worth approximately $1,281,000. Empowered Funds LLC acquired a new stake in Rocket Lab USA during the 4th quarter worth approximately $288,000. Finally, Zweig DiMenna Associates LLC acquired a new stake in Rocket Lab USA during the 4th quarter worth approximately $4,725,000. 71.78% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Needham & Company LLC restated a "buy" rating and issued a $28.00 price objective on shares of Rocket Lab USA in a report on Tuesday, May 13th. Morgan Stanley raised their price objective 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. TD Cowen upgraded shares of Rocket Lab USA to a "strong-buy" rating in a report on Monday, February 24th. Wells Fargo & Company reduced their price objective on shares of 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. Finally, KeyCorp reduced their price objective on shares of Rocket Lab USA from $32.00 to $28.00 and set an "overweight" rating on the stock in a report on Friday, February 28th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Rocket Lab USA presently has a consensus rating of "Moderate Buy" and an average price target of $23.50.

Rocket Lab USA Trading Up 0.9%

NASDAQ RKLB opened at $25.80 on Tuesday. 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 firm's fifty day moving average price is $20.34 and its 200 day moving average price is $22.67. The company has a market capitalization of $11.70 billion, a price-to-earnings ratio of -69.73 and a beta of 2.04. Rocket Lab USA, Inc. has a 12 month low of $4.15 and a 12 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). Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. The company had revenue of $122.57 million during the quarter, compared to analysts' expectations of $120.74 million. During the same period last year, the business earned ($0.09) earnings per share. The company's quarterly revenue was up 32.1% on a year-over-year basis. On average, sell-side analysts expect that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Rocket Lab USA news, insider Frank Klein sold 1,835 shares of the firm's stock in a transaction 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 transaction, the insider now directly owns 1,417,644 shares of the company's stock, valued at approximately $28,253,644.92. This trade represents a 0.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 13.70% of the stock is currently owned by insiders.

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.

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