Rocket Lab USA, Inc. (NASDAQ:RKLB) Stock Position Lifted by Franklin Resources Inc.

Franklin Resources Inc. boosted its stake in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 2,808.0% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 316,075 shares of the rocket manufacturer’s stock after purchasing an additional 305,206 shares during the period. Franklin Resources Inc. owned about 0.06% of Rocket Lab USA worth $8,050,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Spectrum Wealth Counsel LLC purchased a new position in Rocket Lab USA during the fourth quarter valued at approximately $25,000. Sandy Spring Bank acquired a new stake in Rocket Lab USA in the fourth quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. acquired a new stake in Rocket Lab USA in the fourth quarter valued at approximately $40,000. Smartleaf Asset Management LLC lifted its stake in Rocket Lab USA by 1,565.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,015 shares of the rocket manufacturer’s stock valued at $53,000 after acquiring an additional 1,894 shares during the last quarter. Finally, AlphaQuest LLC acquired a new stake in Rocket Lab USA in the fourth quarter valued at approximately $52,000. 71.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RKLB has been the subject of a number of analyst reports. KeyCorp reduced their target price on shares of Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. Citigroup reduced their target price on shares of Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Morgan Stanley lifted 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. TD Cowen upgraded shares of Rocket Lab USA to a “strong-buy” rating in a research note on Monday, February 24th. Finally, Wells Fargo & Company reduced their price objective on shares of Rocket Lab USA from $21.00 to $18.00 and set an “equal weight” rating for the company in a research note on Tuesday. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $22.72.

Rocket Lab USA Price Performance

NASDAQ:RKLB opened at $20.59 on Thursday. The stock has a market cap of $9.34 billion, a P/E ratio of -55.65 and a beta of 2.08. Rocket Lab USA, Inc. has a one year low of $3.47 and a one year high of $33.34. The company has a fifty day moving average price of $21.53 and a 200 day moving average price of $20.33. 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) last released its earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The company had revenue of $132.39 million for the quarter, compared to analyst estimates of $130.58 million. Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. Analysts anticipate that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current year.

Insider Activity at Rocket Lab USA

In other Rocket Lab USA news, insider Frank Klein sold 1,835 shares of the business’s 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 sale, the insider now owns 1,417,644 shares of the company’s stock, valued at $28,253,644.92. The trade was a 0.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 13.70% of the company’s stock.

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.