Rocket Lab USA, Inc. (NASDAQ:RKLB) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC increased its stake in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 0.4% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 8,285,693 shares of the rocket manufacturer’s stock after acquiring an additional 32,658 shares during the period. Geode Capital Management LLC owned approximately 1.66% of Rocket Lab USA worth $211,084,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Spectrum Wealth Counsel LLC acquired a new stake in shares of Rocket Lab USA during the fourth quarter valued at about $25,000. Sandy Spring Bank acquired a new stake in Rocket Lab USA during the 4th quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. acquired a new stake in Rocket Lab USA during the 4th quarter valued at approximately $40,000. New Millennium Group LLC raised its position in shares of Rocket Lab USA by 105.0% in the 4th quarter. New Millennium Group LLC now owns 2,050 shares of the rocket manufacturer’s stock valued at $52,000 after purchasing an additional 1,050 shares in the last quarter. Finally, AlphaQuest LLC acquired a new position in shares of Rocket Lab USA in the 4th quarter valued at approximately $52,000. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Rocket Lab USA Trading Down 8.5 %

Rocket Lab USA stock opened at $16.37 on Monday. Rocket Lab USA, Inc. has a 52-week low of $3.47 and a 52-week high of $33.34. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $7.42 billion, a price-to-earnings ratio of -44.24 and a beta of 2.08. The firm has a 50-day moving average price of $22.57 and a two-hundred day moving average price of $20.12.

Rocket Lab USA (NASDAQ:RKLB) 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). The business had revenue of $132.39 million for the quarter, compared to analyst estimates of $130.58 million. Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. Sell-side analysts expect that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on RKLB shares. TD Cowen upgraded shares of Rocket Lab USA to a “strong-buy” rating in a research note on Monday, February 24th. KeyCorp lowered 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. Morgan Stanley lifted their target price 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. Citigroup dropped their price target on Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Finally, Stifel Nicolaus lifted their price objective 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 research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $23.06.

Insider Activity at Rocket Lab USA

In other Rocket Lab USA news, insider Frank Klein sold 1,835 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $19.93, for a total transaction of $36,571.55. Following the transaction, the insider now owns 1,417,644 shares of the company’s stock, valued at approximately $28,253,644.92. This trade represents a 0.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 13.70% of the company’s stock.

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.