Rocket Lab USA, Inc. (NASDAQ:RKLB) Shares Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC lifted its stake in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) by 3,592.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,534,265 shares of the rocket manufacturer's stock after purchasing an additional 1,492,708 shares during the period. Hsbc Holdings PLC owned about 0.31% of Rocket Lab USA worth $39,477,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Spectrum Wealth Counsel LLC purchased a new position in Rocket Lab USA in the 4th quarter worth approximately $25,000. Sandy Spring Bank purchased a new position in shares of Rocket Lab USA during the 4th quarter worth $26,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Rocket Lab USA during the 4th quarter valued at about $40,000. NewEdge Advisors LLC increased its holdings in shares of Rocket Lab USA by 1,000.0% during the 4th quarter. NewEdge Advisors LLC now owns 1,925 shares of the rocket manufacturer's stock worth $49,000 after buying an additional 1,750 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its position in shares of Rocket Lab USA by 1,565.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,015 shares of the rocket manufacturer's stock valued at $53,000 after buying an additional 1,894 shares during the period. Institutional investors and hedge funds own 71.78% of the company's stock.

Rocket Lab USA Stock Down 2.5 %

RKLB traded down $0.57 on Wednesday, hitting $21.83. 5,813,671 shares of the company were exchanged, compared to its average volume of 15,470,790. 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 $9.90 billion, a price-to-earnings ratio of -58.86 and a beta of 2.08. The firm has a 50-day moving average price of $19.45 and a two-hundred day moving average price of $21.42. Rocket Lab USA, Inc. has a twelve month low of $3.66 and a twelve month high of $33.34.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.01). 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 $132.39 million for the quarter, compared to analyst estimates of $130.58 million. On average, equities analysts predict that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have commented on RKLB. Citigroup decreased their price target on 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. 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 for the company in a research report on Tuesday, April 8th. The Goldman Sachs Group boosted their price target on shares of Rocket Lab USA from $12.00 to $13.50 and gave the company a "neutral" rating in a research note on Thursday, January 16th. TD Cowen upgraded shares of Rocket Lab USA to a "strong-buy" rating in a report on Monday, February 24th. Finally, Morgan Stanley upped their price target on Rocket Lab USA from $18.00 to $20.00 and gave the stock an "equal weight" rating in a research note on Monday, March 10th. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $23.25.

Insider Buying and Selling at Rocket Lab USA

In related news, insider Frank Klein sold 1,835 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $19.93, for a total transaction of $36,571.55. Following the completion of the sale, the insider now owns 1,417,644 shares in the company, valued at $28,253,644.92. This represents a 0.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 13.70% of the stock is currently owned by insiders.

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.