30,000 Shares in Rocket Lab USA, Inc. (NASDAQ:RKLB) Acquired by Soviero Asset Management LP

Soviero Asset Management LP acquired a new stake in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 30,000 shares of the rocket manufacturer's stock, valued at approximately $764,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of RKLB. Chicago Partners Investment Group LLC raised its position in Rocket Lab USA by 0.4% during the 4th quarter. Chicago Partners Investment Group LLC now owns 79,943 shares of the rocket manufacturer's stock valued at $2,187,000 after purchasing an additional 334 shares in the last quarter. Wellington Shields & Co. LLC increased its stake in Rocket Lab USA by 0.5% during the 4th quarter. Wellington Shields & Co. LLC now owns 74,522 shares of the rocket manufacturer's stock valued at $1,898,000 after purchasing an additional 383 shares in the last quarter. Signaturefd LLC lifted its position in Rocket Lab USA by 12.2% during the 4th quarter. Signaturefd LLC now owns 6,014 shares of the rocket manufacturer's stock worth $153,000 after acquiring an additional 653 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of Rocket Lab USA by 3.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 21,747 shares of the rocket manufacturer's stock worth $554,000 after purchasing an additional 696 shares during the period. Finally, CIBC Asset Management Inc raised its holdings in shares of Rocket Lab USA by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 15,078 shares of the rocket manufacturer's stock worth $384,000 after purchasing an additional 746 shares during the last quarter. 71.78% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on RKLB shares. Citigroup dropped their price objective 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. Needham & Company LLC restated a "buy" rating and set a $28.00 price target on shares of Rocket Lab USA in a research report on Tuesday, May 13th. The Goldman Sachs Group increased their price objective on shares of Rocket Lab USA from $14.35 to $16.00 and gave the company a "neutral" rating in a report on Monday, May 12th. Wells Fargo & Company cut their price target on shares of Rocket Lab USA from $21.00 to $18.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Finally, Morgan Stanley lifted 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. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $23.50.

Rocket Lab USA Stock Down 3.2%

Shares of RKLB traded down $0.83 during trading on Wednesday, reaching $25.17. The company's stock had a trading volume of 16,959,111 shares, compared to its average volume of 16,014,507. The company has a fifty day moving average of $20.51 and a two-hundred day moving average of $22.69. Rocket Lab USA, Inc. has a twelve month low of $4.15 and a twelve month high of $33.34. The company has a market cap of $11.42 billion, a price-to-earnings ratio of -68.03 and a beta of 2.04. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97.

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 analysts' consensus estimates 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 the consensus estimate of $120.74 million. During the same quarter in the previous year, the company earned ($0.09) earnings per share. Rocket Lab USA's quarterly revenue was up 32.1% compared to the same quarter last year. On average, sell-side analysts predict that Rocket Lab USA, Inc. will post -0.38 EPS for the current fiscal year.

Insider Activity at Rocket Lab USA

In related news, insider Frank Klein sold 44,553 shares of the stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $18.18, for a total value of $809,973.54. Following the completion of the sale, the insider now directly owns 1,419,479 shares of the company's stock, valued at approximately $25,806,128.22. This represents a 3.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 13.70% of the company's stock.

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.