Teachers Retirement System of The State of Kentucky Takes Position in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Teachers Retirement System of The State of Kentucky bought a new stake in Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 26,187 shares of the rocket manufacturer's stock, valued at approximately $667,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Spectrum Wealth Counsel LLC purchased a new position in shares of Rocket Lab USA in the fourth quarter valued at approximately $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. acquired a new position in shares of Rocket Lab USA in the fourth quarter worth $40,000. NewEdge Advisors LLC increased 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 acquiring an additional 1,750 shares during the period. Finally, New Millennium Group LLC raised its stake in shares of Rocket Lab USA by 105.0% in the fourth quarter. New Millennium Group LLC now owns 2,050 shares of the rocket manufacturer's stock valued at $52,000 after acquiring an additional 1,050 shares in the last quarter. Institutional investors and hedge funds own 71.78% of the company's stock.

Rocket Lab USA Stock Performance

Shares of RKLB traded up $0.87 during mid-day trading on Friday, reaching $22.99. 12,697,495 shares of the company's stock were exchanged, compared to its average volume of 15,504,216. The business's fifty day simple moving average is $19.40 and its 200-day simple moving average is $21.50. The stock has a market capitalization of $10.43 billion, a PE ratio of -62.13 and a beta of 2.08. Rocket Lab USA, Inc. has a 52-week low of $3.66 and a 52-week high of $33.34. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share (EPS) 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 for the quarter, compared to analysts' expectations of $130.58 million. On average, equities research analysts expect that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current year.

Insider Activity

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on RKLB shares. Morgan Stanley boosted their target price on Rocket Lab USA from $18.00 to $20.00 and gave the stock an "equal weight" rating in a research note on Monday, March 10th. Citigroup cut their target price on shares of Rocket Lab USA from $35.00 to $33.00 and set a "buy" rating on the stock in a research note on Friday, February 28th. Needham & Company LLC started 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. The Goldman Sachs Group boosted their price target on shares of Rocket Lab USA from $12.00 to $13.50 and gave the stock a "neutral" rating in a report on Thursday, January 16th. Finally, KeyCorp reduced 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 report on Friday, February 28th. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Rocket Lab USA has an average rating of "Moderate Buy" and an average price target of $23.25.

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.