Udine Wealth Management Inc. lifted its position in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) by 21.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 64,080 shares of the rocket manufacturer's stock after purchasing an additional 11,375 shares during the period. Rocket Lab USA accounts for 0.8% of Udine Wealth Management Inc.'s portfolio, making the stock its 26th largest holding. Udine Wealth Management Inc.'s holdings in Rocket Lab USA were worth $1,146,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of RKLB. Vanguard Group Inc. grew its stake in Rocket Lab USA by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 36,195,577 shares of the rocket manufacturer's stock valued at $921,901,000 after buying an additional 668,093 shares during the last quarter. Geode Capital Management LLC grew its stake in Rocket Lab USA by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 8,285,693 shares of the rocket manufacturer's stock valued at $211,084,000 after buying an additional 32,658 shares during the last quarter. FMR LLC grew its stake in Rocket Lab USA by 30,853.3% in the 4th quarter. FMR LLC now owns 3,696,136 shares of the rocket manufacturer's stock valued at $94,141,000 after buying an additional 3,684,195 shares during the last quarter. Northern Trust Corp grew its stake in Rocket Lab USA by 9.5% in the 4th quarter. Northern Trust Corp now owns 3,227,617 shares of the rocket manufacturer's stock valued at $82,207,000 after buying an additional 281,339 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Rocket Lab USA by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,902,212 shares of the rocket manufacturer's stock valued at $73,919,000 after buying an additional 23,855 shares during the last quarter. 71.78% of the stock is currently owned by institutional investors and hedge funds.
Rocket Lab USA Stock Performance
Shares of Rocket Lab USA stock opened at $28.92 on Friday. The company has a 50 day moving average of $22.59 and a 200-day moving average of $23.65. Rocket Lab USA, Inc. has a 1-year low of $4.20 and a 1-year high of $33.34. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97. The company has a market cap of $13.12 billion, a PE ratio of -78.16 and a beta of 2.08.
Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The rocket manufacturer reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.02). The firm had revenue of $122.57 million for the quarter, compared to the consensus estimate of $120.74 million. Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. The business's revenue was up 32.1% on a year-over-year basis. During the same period last year, the company posted ($0.09) EPS. As a group, equities research analysts forecast that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current fiscal year.
Insider Buying and Selling at Rocket Lab USA
In other Rocket Lab USA news, insider Arjun Kampani sold 5,277 shares of the company's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $29.97, for a total value of $158,151.69. Following the completion of the transaction, the insider now directly owns 569,606 shares in the company, valued at approximately $17,071,091.82. This represents a 0.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Frank Klein sold 44,553 shares of the company's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $18.18, for a total transaction of $809,973.54. Following the completion of the transaction, the insider now owns 1,419,479 shares of the company's stock, valued at approximately $25,806,128.22. This trade represents a 3.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 136,937 shares of company stock worth $3,285,279. 13.70% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on the stock. Stifel Nicolaus increased their target price on shares of Rocket Lab USA from $29.00 to $34.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. Wells Fargo & Company decreased their target price on shares of Rocket Lab USA from $21.00 to $18.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. Roth Capital increased their target price on shares of Rocket Lab USA from $25.00 to $35.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. KeyCorp restated an "overweight" rating on shares of Rocket Lab USA in a research report on Tuesday. Finally, TD Cowen upgraded shares of Rocket Lab USA to a "strong-buy" rating in a research report on Monday, February 24th. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $25.18.
Read Our Latest Report on RKLB
Rocket Lab USA Profile
(
Free Report)
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.
Further Reading
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