Vanguard Group Inc. Purchases 668,093 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB)

Vanguard Group Inc. raised its holdings in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 1.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,195,577 shares of the rocket manufacturer’s stock after buying an additional 668,093 shares during the period. Vanguard Group Inc. owned about 7.24% of Rocket Lab USA worth $921,901,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Citigroup Inc. boosted its holdings in Rocket Lab USA by 46.8% during the 3rd quarter. Citigroup Inc. now owns 691,387 shares of the rocket manufacturer’s stock valued at $6,727,000 after acquiring an additional 220,432 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Rocket Lab USA by 22.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer’s stock worth $28,006,000 after purchasing an additional 532,207 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Rocket Lab USA by 12.2% during the third quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock valued at $80,317,000 after purchasing an additional 898,223 shares during the period. FORA Capital LLC bought a new position in shares of Rocket Lab USA in the third quarter worth about $449,000. Finally, National Bank of Canada FI increased its stake in Rocket Lab USA by 149.2% in the 3rd quarter. National Bank of Canada FI now owns 50,408 shares of the rocket manufacturer’s stock worth $490,000 after buying an additional 30,178 shares during the period. Institutional investors own 71.78% of the company’s stock.

Insider Transactions at Rocket Lab USA

In other Rocket Lab USA news, insider Frank Klein sold 44,553 shares of the 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 completion of the sale, the insider now directly owns 1,419,479 shares in the company, valued at approximately $25,806,128.22. This trade represents a 3.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 13.70% of the company’s stock.

Rocket Lab USA Stock Performance

Shares of Rocket Lab USA stock opened at $18.62 on Friday. Rocket Lab USA, Inc. has a one year low of $3.47 and a one year high of $33.34. The company has a market capitalization of $8.45 billion, a PE ratio of -50.32 and a beta of 2.06. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58. The company has a 50-day simple moving average of $23.71 and a two-hundred day simple moving average of $19.56.

Rocket Lab USA (NASDAQ:RKLB) last posted its earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) EPS 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 firm had revenue of $132.39 million for the quarter, compared to analysts’ expectations of $130.58 million. Research analysts expect that Rocket Lab USA, Inc. will post -0.38 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. KeyCorp lowered their price objective on shares of 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. Stifel Nicolaus boosted their price target on Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Wells Fargo & Company reduced their price objective on Rocket Lab USA from $22.00 to $21.00 and set an “equal weight” rating on the stock in a report on Monday, March 3rd. TD Cowen raised Rocket Lab USA to a “strong-buy” rating in a research report on Monday, February 24th. Finally, 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 research report on Monday, March 10th. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Rocket Lab USA presently has a consensus rating of “Moderate Buy” and an average target price of $23.06.

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.