Tower Research Capital LLC TRC Has $743,000 Stake in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Tower Research Capital LLC TRC lifted its holdings in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) by 1,646.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,165 shares of the rocket manufacturer's stock after buying an additional 27,495 shares during the quarter. Tower Research Capital LLC TRC's holdings in Rocket Lab USA were worth $743,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Chicago Partners Investment Group LLC grew its position in shares of Rocket Lab USA by 0.4% during the 4th quarter. Chicago Partners Investment Group LLC now owns 79,943 shares of the rocket manufacturer's stock worth $2,187,000 after buying an additional 334 shares during the period. Wellington Shields & Co. LLC boosted its stake in Rocket Lab USA by 0.5% during the 4th quarter. Wellington Shields & Co. LLC now owns 74,522 shares of the rocket manufacturer's stock worth $1,898,000 after acquiring an additional 383 shares during the last quarter. Signaturefd LLC grew its holdings in Rocket Lab USA by 12.2% during the fourth quarter. Signaturefd LLC now owns 6,014 shares of the rocket manufacturer's stock valued at $153,000 after purchasing an additional 653 shares during the period. Envestnet Asset Management Inc. increased its stake in Rocket Lab USA by 3.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 21,747 shares of the rocket manufacturer's stock valued at $554,000 after purchasing an additional 696 shares in the last quarter. Finally, CIBC Asset Management Inc raised its holdings in Rocket Lab USA by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 15,078 shares of the rocket manufacturer's stock worth $384,000 after purchasing an additional 746 shares during the period. 71.78% of the stock is owned by institutional investors.

Rocket Lab USA Stock Performance

NASDAQ:RKLB traded up $0.34 on Thursday, hitting $22.13. The company's stock had a trading volume of 6,843,282 shares, compared to its average volume of 15,487,162. Rocket Lab USA, Inc. has a one year low of $3.66 and a one year high of $33.34. The firm has a market capitalization of $10.04 billion, a P/E ratio of -59.99 and a beta of 2.08. The stock has a fifty day moving average of $19.41 and a two-hundred day moving average of $21.42. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.01). Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. The business had revenue of $132.39 million during the quarter, compared to the consensus estimate of $130.58 million. Research analysts predict that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current year.

Analysts Set New Price Targets

RKLB has been the subject of several research analyst reports. 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 report on Thursday, January 16th. Morgan Stanley increased their price target 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. Needham & Company LLC began coverage on Rocket Lab USA in a report on Friday, April 25th. They set a "buy" rating and a $28.00 price objective on the stock. KeyCorp lowered their target price on Rocket Lab USA from $32.00 to $28.00 and set an "overweight" rating for the company in a research note on Friday, February 28th. Finally, Stifel Nicolaus raised their target price on shares of Rocket Lab USA from $26.00 to $31.00 and gave the stock a "buy" rating in a report on Wednesday, January 8th. Five 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $23.25.

Insider Buying and Selling

In related 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 completion of the sale, the insider now directly owns 1,419,479 shares of the company's stock, valued at approximately $25,806,128.22. This trade represents a 3.04 % decrease in their position. The transaction 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 insiders.

About Rocket Lab USA

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.