229,862 Shares in Rocket Lab USA, Inc. (NASDAQ:RKLB) Bought by EAM Investors LLC

EAM Investors LLC bought a new position in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 229,862 shares of the rocket manufacturer's stock, valued at approximately $5,855,000. Rocket Lab USA accounts for 0.8% of EAM Investors LLC's holdings, making the stock its 12th biggest holding.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its holdings in Rocket Lab USA by 12.2% in 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 acquiring an additional 898,223 shares during the last quarter. Franklin Resources Inc. purchased a new stake in shares of Rocket Lab USA in the third quarter worth about $107,000. Udine Wealth Management Inc. purchased a new stake in shares of Rocket Lab USA during the 4th quarter valued at about $1,342,000. Van ECK Associates Corp boosted its holdings in Rocket Lab USA by 26.9% in the 4th quarter. Van ECK Associates Corp now owns 166,369 shares of the rocket manufacturer's stock worth $4,237,000 after acquiring an additional 35,293 shares during the period. Finally, AlphaCentric Advisors LLC boosted its holdings in Rocket Lab USA by 66.7% in the 4th quarter. AlphaCentric Advisors LLC now owns 25,000 shares of the rocket manufacturer's stock worth $637,000 after acquiring an additional 10,000 shares during the period. 71.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. KeyCorp decreased 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. TD Cowen raised shares of Rocket Lab USA to a "strong-buy" rating in a research report on Monday, February 24th. Morgan Stanley boosted their price objective on Rocket Lab USA from $18.00 to $20.00 and gave the company an "equal weight" rating in a report on Monday, March 10th. Wells Fargo & Company lowered their price target on Rocket Lab USA from $21.00 to $18.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Finally, Citigroup decreased their price objective on shares of Rocket Lab USA from $35.00 to $33.00 and set a "buy" rating for the company in a report on Friday, February 28th. 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 data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $22.72.

Rocket Lab USA Stock Down 1.2 %

NASDAQ RKLB traded down $0.24 during trading on Friday, reaching $19.74. The company's stock had a trading volume of 9,181,879 shares, compared to its average volume of 15,275,294. The business has a 50-day moving average price of $20.49 and a 200-day moving average price of $20.71. Rocket Lab USA, Inc. has a 1-year low of $3.48 and a 1-year high of $33.34. The stock has a market capitalization of $8.95 billion, a PE ratio of -53.35 and a beta of 2.08. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last posted its earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share 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 the consensus estimate 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 forecast that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Rocket Lab USA news, insider Frank Klein sold 44,553 shares of the company's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $18.18, for a total transaction of $809,973.54. Following the completion of the sale, the insider now directly owns 1,419,479 shares in the company, valued at $25,806,128.22. This represents a 3.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 13.70% of the stock is owned by insiders.

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.