Voya Investment Management LLC Sells 432,411 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB)

Voya Investment Management LLC cut its position in Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) by 47.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 488,534 shares of the rocket manufacturer's stock after selling 432,411 shares during the quarter. Voya Investment Management LLC owned about 0.10% of Rocket Lab USA worth $12,443,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Evercore Wealth Management LLC bought a new position in Rocket Lab USA during the fourth quarter worth $242,000. Price T Rowe Associates Inc. MD boosted its position in shares of Rocket Lab USA by 315.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 807,521 shares of the rocket manufacturer's stock valued at $20,569,000 after purchasing an additional 613,365 shares in the last quarter. Quantessence Capital LLC bought a new stake in shares of Rocket Lab USA in the 4th quarter valued at $726,000. Harvest Investment Services LLC bought a new stake in Rocket Lab USA in the fourth quarter valued at $908,000. Finally, Hsbc Holdings PLC boosted its holdings in Rocket Lab USA by 3,592.0% in the fourth quarter. Hsbc Holdings PLC now owns 1,534,265 shares of the rocket manufacturer's stock worth $39,477,000 after acquiring an additional 1,492,708 shares in the last quarter. 71.78% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RKLB has been the subject of a number of analyst reports. TD Cowen upgraded shares of Rocket Lab USA to a "strong-buy" rating in a report on Monday, February 24th. The Goldman Sachs Group upped their price target on shares of Rocket Lab USA from $12.00 to $13.50 and gave the company a "neutral" rating in a research note on Thursday, January 16th. KeyCorp dropped their price objective on Rocket Lab USA from $32.00 to $28.00 and set an "overweight" rating for the company in a report on Friday, February 28th. Stifel Nicolaus raised 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. Finally, Morgan Stanley raised their target price on shares of Rocket Lab USA from $18.00 to $20.00 and gave the company an "equal weight" rating in a research note on Monday, March 10th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $23.25.

Insiders Place Their Bets

In related news, insider Frank Klein sold 44,553 shares of Rocket Lab USA stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $18.18, for a total value of $809,973.54. Following the transaction, the insider now 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 13.70% of the stock is owned by corporate insiders.

Rocket Lab USA Stock Up 3.9 %

Shares of RKLB stock traded up $0.87 during trading on Friday, reaching $22.99. The company's stock had a trading volume of 12,697,495 shares, compared to its average volume of 15,504,258. The stock's 50-day moving average price is $19.40 and its 200 day moving average price is $21.50. 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, Inc. has a 1-year low of $3.66 and a 1-year high of $33.34. The company has a market capitalization of $10.43 billion, a price-to-earnings ratio of -62.13 and a beta of 2.08.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last announced its quarterly earnings data 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). The business had revenue of $132.39 million during the quarter, compared to analysts' expectations 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 anticipate that Rocket Lab USA, Inc. will post -0.38 EPS 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.