Price T Rowe Associates Inc. MD Buys 613,365 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB)

Price T Rowe Associates Inc. MD boosted its holdings in Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) by 315.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 807,521 shares of the rocket manufacturer's stock after buying an additional 613,365 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.16% of Rocket Lab USA worth $20,569,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Spectrum Wealth Counsel LLC acquired a new position in shares of Rocket Lab USA in the fourth quarter worth approximately $25,000. Sandy Spring Bank bought a new position in Rocket Lab USA during the 4th quarter worth approximately $26,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Rocket Lab USA in the 4th quarter worth approximately $40,000. NewEdge Advisors LLC boosted its stake in shares of Rocket Lab USA by 1,000.0% in the 4th 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. Finally, New Millennium Group LLC increased its position in shares of Rocket Lab USA by 105.0% during the fourth quarter. New Millennium Group LLC now owns 2,050 shares of the rocket manufacturer's stock worth $52,000 after buying an additional 1,050 shares during the period. 71.78% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Rocket Lab USA news, insider Frank Klein sold 1,835 shares of the company's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $19.93, for a total value of $36,571.55. Following the completion of the sale, the insider now directly owns 1,417,644 shares of the company's stock, valued at approximately $28,253,644.92. This represents a 0.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 13.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on RKLB. Needham & Company LLC initiated coverage on shares of Rocket Lab USA in a report on Friday, April 25th. They issued a "buy" rating and a $28.00 target price on the stock. Citigroup lowered their target price on Rocket Lab USA from $35.00 to $33.00 and set a "buy" rating for the company in a report on Friday, February 28th. KeyCorp cut their price target on Rocket Lab USA from $32.00 to $28.00 and set an "overweight" rating on the stock in a report on Friday, February 28th. Wells Fargo & Company lowered their price objective on shares of Rocket Lab USA from $21.00 to $18.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Finally, TD Cowen upgraded shares of 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 given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $23.25.

Rocket Lab USA Stock Up 3.9 %

Shares of Rocket Lab USA stock traded up $0.87 during trading hours on Friday, reaching $22.99. The company's stock had a trading volume of 12,697,495 shares, compared to its average volume of 15,581,844. The company has a market capitalization of $10.43 billion, a P/E ratio of -62.13 and a beta of 2.08. The stock's fifty day simple moving average is $19.46 and its two-hundred day simple moving average is $21.67. Rocket Lab USA, Inc. has a one year low of $3.66 and a one year high of $33.34. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last announced its quarterly earnings results 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). The business had revenue of $132.39 million during the quarter, compared to the consensus estimate of $130.58 million. Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. On average, research analysts forecast that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current year.

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.