Vanguard Group Inc. Raises Holdings in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Vanguard Group Inc. increased its stake in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) by 4.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,100,419 shares of the rocket manufacturer's stock after purchasing an additional 1,167,403 shares during the quarter. Vanguard Group Inc. owned 5.37% of Rocket Lab USA worth $114,320,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Wellington Management Group LLP raised its position in Rocket Lab USA by 14.6% in the third quarter. Wellington Management Group LLP now owns 851,280 shares of the rocket manufacturer's stock worth $3,729,000 after acquiring an additional 108,451 shares in the last quarter. American Century Companies Inc. increased its position in shares of Rocket Lab USA by 12.0% in the third quarter. American Century Companies Inc. now owns 3,701,611 shares of the rocket manufacturer's stock valued at $16,213,000 after buying an additional 396,501 shares in the last quarter. Deutsche Bank AG increased its position in shares of Rocket Lab USA by 14.8% in the third quarter. Deutsche Bank AG now owns 135,146 shares of the rocket manufacturer's stock valued at $592,000 after buying an additional 17,374 shares in the last quarter. Graham Capital Management L.P. purchased a new position in shares of Rocket Lab USA in the third quarter valued at $221,000. Finally, Comerica Bank purchased a new position in shares of Rocket Lab USA in the third quarter valued at $279,000. 71.78% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Rocket Lab USA news, CFO Adam C. Spice sold 67,160 shares of Rocket Lab USA stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $4.25, for a total transaction of $285,430.00. Following the sale, the chief financial officer now directly owns 1,442,206 shares in the company, valued at approximately $6,129,375.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Rocket Lab USA news, CFO Adam C. Spice sold 67,160 shares of Rocket Lab USA stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $4.25, for a total transaction of $285,430.00. Following the sale, the chief financial officer now directly owns 1,442,206 shares in the company, valued at approximately $6,129,375.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Arjun Kampani sold 31,394 shares of Rocket Lab USA stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $4.25, for a total value of $133,424.50. Following the sale, the general counsel now owns 695,147 shares in the company, valued at $2,954,374.75. The disclosure for this sale can be found here. 15.00% of the stock is currently owned by corporate insiders.

Rocket Lab USA Trading Up 0.5 %

Shares of NASDAQ RKLB traded up $0.02 during midday trading on Thursday, hitting $3.90. The stock had a trading volume of 6,553,808 shares, compared to its average volume of 8,693,183. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of -10.26 and a beta of 1.17. Rocket Lab USA, Inc. has a 1-year low of $3.62 and a 1-year high of $8.05. The company has a quick ratio of 1.65, a current ratio of 2.13 and a debt-to-equity ratio of 0.19. The company has a fifty day moving average price of $4.37 and a 200 day moving average price of $4.55.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last released its quarterly earnings results on Tuesday, February 27th. The rocket manufacturer reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The company had revenue of $59.99 million for the quarter, compared to analyst estimates of $62.90 million. Rocket Lab USA had a negative return on equity of 30.54% and a negative net margin of 74.64%. The business's revenue was up 15.9% on a year-over-year basis. During the same period last year, the firm posted ($0.08) earnings per share. On average, analysts predict that Rocket Lab USA, Inc. will post -0.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

RKLB has been the subject of a number of research analyst reports. Citigroup restated a "buy" rating and issued a $6.00 price target on shares of Rocket Lab USA in a research report on Monday, February 12th. Cantor Fitzgerald reiterated an "overweight" rating and set a $6.00 price objective on shares of Rocket Lab USA in a research report on Friday, December 22nd. KeyCorp initiated coverage on Rocket Lab USA in a research report on Wednesday, January 17th. They set an "overweight" rating and a $8.00 price objective for the company. Finally, Wells Fargo & Company dropped their price objective on Rocket Lab USA from $5.00 to $4.25 and set an "equal weight" rating for the company in a research report on Thursday. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $7.46.

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.