Tidal Investments LLC Invests $568,000 in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Tidal Investments LLC purchased a new stake in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 22,314 shares of the rocket manufacturer's stock, valued at approximately $568,000.

Several other hedge funds and other institutional investors have also made changes to their positions in RKLB. Van ECK Associates Corp raised its stake in Rocket Lab USA by 26.9% in the fourth quarter. Van ECK Associates Corp now owns 166,369 shares of the rocket manufacturer's stock valued at $4,237,000 after buying an additional 35,293 shares during the period. AlphaCentric Advisors LLC raised its position in shares of Rocket Lab USA by 66.7% in the fourth quarter. AlphaCentric Advisors LLC now owns 25,000 shares of the rocket manufacturer's stock valued at $637,000 after purchasing an additional 10,000 shares during the period. Stratos Wealth Partners LTD. acquired a new stake in shares of Rocket Lab USA during the 4th quarter worth about $1,281,000. Empowered Funds LLC acquired a new position in Rocket Lab USA in the 4th quarter valued at about $288,000. Finally, Raymond James Financial Inc. bought a new position in Rocket Lab USA during the fourth quarter worth about $5,748,000. 71.78% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on RKLB. Morgan Stanley raised their target price on shares of Rocket Lab USA from $18.00 to $20.00 and gave the stock an "equal weight" rating in a report on Monday, March 10th. The Goldman Sachs Group boosted their price objective on Rocket Lab USA from $14.35 to $16.00 and gave the stock a "neutral" rating in a research report on Monday, May 12th. TD Cowen raised Rocket Lab USA to a "strong-buy" rating in a report on Monday, February 24th. Roth Capital lifted their price target on Rocket Lab USA from $25.00 to $35.00 and gave the company a "buy" rating in a research note on Wednesday. Finally, Citigroup lowered their price objective on Rocket Lab USA from $35.00 to $33.00 and set a "buy" rating for the company in a research note on Friday, February 28th. Five research 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 company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $25.18.

Insider Buying and Selling

In related news, insider Frank Klein sold 1,835 shares of Rocket Lab USA stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $19.93, for a total value of $36,571.55. Following the sale, the insider now owns 1,417,644 shares of the company's stock, valued at approximately $28,253,644.92. The trade was a 0.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 13.70% of the stock is currently owned by corporate insiders.

Rocket Lab USA Stock Down 5.5%

Shares of RKLB stock traded down $1.58 during trading hours on Thursday, reaching $27.35. The company had a trading volume of 16,245,465 shares, compared to its average volume of 16,307,849. The company has a market cap of $12.40 billion, a price-to-earnings ratio of -73.92 and a beta of 2.04. 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, Inc. has a 12 month low of $4.17 and a 12 month high of $33.34. The business has a fifty day simple moving average of $21.46 and a 200-day simple moving average of $23.20.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last posted its 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 during the quarter, compared to the consensus estimate of $120.74 million. During the same quarter in the previous year, the company earned ($0.09) EPS. The business's revenue was up 32.1% compared to the same quarter last year. On average, research analysts expect that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current fiscal year.

Rocket Lab USA Company 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.