Rocket Lab USA, Inc. (NASDAQ:RKLB) Shares Sold by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. decreased its holdings in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) by 67.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 97,176 shares of the rocket manufacturer's stock after selling 201,726 shares during the quarter. Balyasny Asset Management L.P.'s holdings in Rocket Lab USA were worth $2,475,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Spectrum Wealth Counsel LLC purchased a new position in shares of Rocket Lab USA during the fourth quarter worth $25,000. Sandy Spring Bank purchased a new position in shares of Rocket Lab USA during the fourth quarter worth $26,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Rocket Lab USA during the fourth quarter worth $40,000. Quarry LP purchased a new position in shares of Rocket Lab USA during the fourth quarter worth $48,000. Finally, NewEdge Advisors LLC boosted its position in shares of Rocket Lab USA by 1,000.0% during the fourth 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 period. Institutional investors and hedge funds own 71.78% of the company's stock.

Insider Transactions at Rocket Lab USA

In related news, insider Frank Klein sold 1,835 shares of the business's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $19.93, for a total value of $36,571.55. Following the transaction, the insider now owns 1,417,644 shares in the company, valued at $28,253,644.92. The trade was a 0.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 13.70% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on RKLB. KeyCorp lowered their price target on Rocket Lab USA from $32.00 to $28.00 and set an "overweight" rating for the company in a research report on Friday, February 28th. TD Cowen upgraded Rocket Lab USA to a "strong-buy" rating in a report on Monday, February 24th. Needham & Company LLC assumed coverage on Rocket Lab USA in a report on Friday, April 25th. They issued a "buy" rating and a $28.00 target price for the company. Citigroup decreased 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. Finally, Wells Fargo & Company decreased their target price on Rocket Lab USA from $21.00 to $18.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Five analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $23.50.

Rocket Lab USA Stock Up 3.7%

Shares of NASDAQ RKLB opened at $21.26 on Tuesday. The company has a market capitalization of $9.64 billion, a price-to-earnings ratio of -57.46 and a beta of 2.04. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16. The business has a 50-day moving average of $19.71 and a two-hundred day moving average of $22.20. Rocket Lab USA, Inc. has a 1 year low of $4.15 and a 1 year high of $33.34.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last posted its earnings results on Thursday, May 8th. The rocket manufacturer reported ($0.12) EPS for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.02). 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 $122.57 million for the quarter, compared to analyst estimates of $120.74 million. During the same quarter last year, the firm posted ($0.09) EPS. The firm's revenue for the quarter was up 32.1% on a year-over-year basis. On average, analysts forecast that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current fiscal year.

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.

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