Voloridge Investment Management LLC Buys Shares of 876,745 Rocket Lab USA, Inc. (NASDAQ:RKLB)

Voloridge Investment Management LLC bought a new stake in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 876,745 shares of the rocket manufacturer's stock, valued at approximately $22,331,000. Voloridge Investment Management LLC owned approximately 0.18% of Rocket Lab USA at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of RKLB. Spectrum Wealth Counsel LLC acquired a new stake in shares of Rocket Lab USA in the fourth quarter valued at about $25,000. Sandy Spring Bank acquired a new stake in shares of Rocket Lab USA in the fourth quarter valued at about $26,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Rocket Lab USA in the fourth quarter valued at about $40,000. Quarry LP acquired a new stake in shares of Rocket Lab USA in the fourth quarter valued at about $48,000. Finally, NewEdge Advisors LLC grew its position in shares of Rocket Lab USA by 1,000.0% in the fourth quarter. NewEdge Advisors LLC now owns 1,925 shares of the rocket manufacturer's stock valued at $49,000 after purchasing an additional 1,750 shares during the last quarter. 71.78% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on RKLB shares. KeyCorp lowered their price target on Rocket Lab USA from $32.00 to $28.00 and set an "overweight" rating on the stock in a research report on Friday, February 28th. Citigroup lowered their price target on Rocket Lab USA from $35.00 to $33.00 and set a "buy" rating on the stock in a research report on Friday, February 28th. The Goldman Sachs Group raised their price target on Rocket Lab USA from $14.35 to $16.00 and gave the company a "neutral" rating in a research report on Monday, May 12th. Morgan Stanley raised their price target on Rocket Lab USA from $18.00 to $20.00 and gave the company an "equal weight" rating in a research report on Monday, March 10th. Finally, TD Cowen raised Rocket Lab USA to a "strong-buy" rating in a research report on Monday, February 24th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $23.50.

Rocket Lab USA Price Performance

NASDAQ RKLB traded down $0.40 during trading on Friday, reaching $25.42. 14,181,396 shares of the company traded hands, compared to its average volume of 16,151,829. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58. The stock's 50 day moving average price is $20.92 and its two-hundred day moving average price is $22.90. The company has a market cap of $11.53 billion, a price-to-earnings ratio of -68.70 and a beta of 2.04. Rocket Lab USA, Inc. has a 1-year low of $4.15 and a 1-year high of $33.34.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last released its quarterly earnings data 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 company had revenue of $122.57 million for the quarter, compared to analyst estimates of $120.74 million. Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. The firm's revenue for the quarter was up 32.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.09) earnings per share. As a group, analysts anticipate that Rocket Lab USA, Inc. will post -0.38 EPS for the current year.

Insider Buying and Selling at Rocket Lab USA

In other Rocket Lab USA news, insider Frank Klein sold 44,553 shares of Rocket Lab USA stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $18.18, for a total transaction of $809,973.54. Following the sale, the insider now directly owns 1,419,479 shares of the company's stock, valued at approximately $25,806,128.22. The trade was a 3.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 13.70% of the company's stock.

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.