SG Americas Securities LLC Buys 338,062 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB)

SG Americas Securities LLC boosted its holdings in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) by 2,186.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 353,522 shares of the rocket manufacturer's stock after buying an additional 338,062 shares during the quarter. SG Americas Securities LLC owned 0.08% of Rocket Lab USA worth $6,321,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. FMR LLC grew its stake in shares of Rocket Lab USA by 30,853.3% during the 4th quarter. FMR LLC now owns 3,696,136 shares of the rocket manufacturer's stock worth $94,141,000 after purchasing an additional 3,684,195 shares during the period. Two Sigma Advisers LP acquired a new stake in shares of Rocket Lab USA during the 4th quarter worth approximately $72,623,000. BNP Paribas Financial Markets acquired a new stake in shares of Rocket Lab USA during the 4th quarter worth approximately $56,977,000. Two Sigma Investments LP acquired a new stake in shares of Rocket Lab USA during the 4th quarter worth approximately $47,074,000. Finally, Renaissance Technologies LLC grew its stake in shares of Rocket Lab USA by 1,765.4% during the 4th quarter. Renaissance Technologies LLC now owns 1,818,800 shares of the rocket manufacturer's stock worth $46,325,000 after purchasing an additional 1,721,300 shares during the period. 71.78% of the stock is owned by hedge funds and other institutional investors.

Rocket Lab USA Price Performance

Shares of NASDAQ RKLB traded down $0.99 during trading on Friday, hitting $25.41. 15,510,576 shares of the company were exchanged, compared to its average volume of 17,125,434. The company 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 1 year low of $4.20 and a 1 year high of $33.34. The firm's fifty day moving average price is $23.54 and its 200 day moving average price is $23.78. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The rocket manufacturer reported ($0.12) earnings per share (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 for the quarter, compared to analyst estimates of $120.74 million. During the same period last year, the firm earned ($0.09) EPS. The company's quarterly revenue was up 32.1% compared to the same quarter last year. On average, sell-side analysts expect that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current fiscal year.

Insider Transactions at Rocket Lab USA

In related news, insider Arjun Kampani sold 28,988 shares of the company's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $26.66, for a total transaction of $772,820.08. Following the sale, the insider now directly owns 540,618 shares of the company's stock, valued at approximately $14,412,875.88. This represents a 5.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Frank Klein sold 1,835 shares of the 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 directly owns 1,417,644 shares in the company, valued at $28,253,644.92. This represents a 0.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 100,124 shares of company stock worth $2,707,506. 13.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on RKLB. KeyCorp reissued an "overweight" rating on shares of Rocket Lab USA in a research note on Tuesday, June 3rd. Roth Capital lifted their price target on shares of Rocket Lab USA from $25.00 to $35.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. Needham & Company LLC lifted their price target on shares of Rocket Lab USA from $28.00 to $32.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. Wells Fargo & Company dropped their price target on shares of Rocket Lab USA from $21.00 to $18.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Finally, Citigroup dropped 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 research note on Friday, February 28th. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average 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.