Northern Trust Corp Buys 281,339 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB)

Northern Trust Corp raised its position in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) by 9.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,227,617 shares of the rocket manufacturer's stock after purchasing an additional 281,339 shares during the period. Northern Trust Corp owned 0.65% of Rocket Lab USA worth $82,207,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. Spectrum Wealth Counsel LLC bought a new position in Rocket Lab USA during the fourth quarter worth about $25,000. Sandy Spring Bank purchased a new position in Rocket Lab USA in the 4th quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. bought a new stake in Rocket Lab USA during the 4th quarter valued at $40,000. Quarry LP purchased a new stake in shares of Rocket Lab USA during the fourth quarter worth $48,000. Finally, NewEdge Advisors LLC boosted its holdings 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 worth $49,000 after acquiring an additional 1,750 shares during the period. 71.78% of the stock is currently owned by institutional investors.

Rocket Lab USA Trading Down 0.5 %

Shares of NASDAQ:RKLB traded down $0.10 during midday trading on Wednesday, hitting $22.27. 7,722,292 shares of the stock traded hands, compared to its average volume of 15,511,714. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. The business's 50 day moving average is $19.53 and its two-hundred day moving average is $21.83. The stock has a market capitalization of $10.10 billion, a PE ratio of -60.18 and a beta of 2.04. Rocket Lab USA, Inc. has a one year low of $3.82 and a one year high of $33.34.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share 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 business had revenue of $132.39 million during the quarter, compared to analysts' expectations of $130.58 million. As a group, research analysts forecast that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

RKLB has been the topic of several recent analyst reports. Wells Fargo & Company lowered 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 note on Tuesday, April 8th. Morgan Stanley boosted their price objective on Rocket Lab USA from $18.00 to $20.00 and gave the stock an "equal weight" rating in a report on Monday, March 10th. TD Cowen raised shares of Rocket Lab USA to a "strong-buy" rating in a research note on Monday, February 24th. KeyCorp lowered their price objective on shares of 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. Finally, Stifel Nicolaus increased their target price on Rocket Lab USA from $26.00 to $31.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $23.25.

Insider Activity at Rocket Lab USA

In other news, insider Frank Klein sold 44,553 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $18.18, for a total value 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 represents a 3.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 13.70% of the stock is owned by corporate insiders.

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.