Guggenheim Capital LLC Sells 21,078 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB)

Guggenheim Capital LLC decreased its stake in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) by 34.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,520 shares of the rocket manufacturer's stock after selling 21,078 shares during the period. Guggenheim Capital LLC's holdings in Rocket Lab USA were worth $1,007,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Franklin Resources Inc. acquired a new position in Rocket Lab USA during the third quarter worth $107,000. Udine Wealth Management Inc. acquired a new stake in Rocket Lab USA in the 4th quarter valued at about $1,342,000. Van ECK Associates Corp grew its holdings in Rocket Lab USA by 26.9% during the fourth quarter. Van ECK Associates Corp now owns 166,369 shares of the rocket manufacturer's stock worth $4,237,000 after purchasing an additional 35,293 shares during the period. AlphaCentric Advisors LLC increased its position in Rocket Lab USA by 66.7% during the fourth quarter. AlphaCentric Advisors LLC now owns 25,000 shares of the rocket manufacturer's stock worth $637,000 after buying an additional 10,000 shares during the last quarter. Finally, Stratos Wealth Partners LTD. bought a new stake in Rocket Lab USA in the fourth quarter valued at approximately $1,281,000. 71.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Needham & Company LLC began coverage on Rocket Lab USA in a report on Friday. They set a "buy" rating and a $28.00 target price on the stock. Stifel Nicolaus upped their price target on shares of Rocket Lab USA from $26.00 to $31.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. Citigroup cut 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 research report on Friday, February 28th. Wells Fargo & Company decreased their target price on Rocket Lab USA from $21.00 to $18.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. Finally, KeyCorp reduced their price target on 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. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $23.25.

Rocket Lab USA Price Performance

Shares of NASDAQ RKLB traded up $0.50 during trading hours on Friday, hitting $22.38. 12,605,185 shares of the stock were exchanged, compared to its average volume of 15,424,215. Rocket Lab USA, Inc. has a 1-year low of $3.56 and a 1-year high of $33.34. The company has a market cap of $10.15 billion, a PE ratio of -60.48 and a beta of 2.08. 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's fifty day simple moving average is $19.68 and its two-hundred day simple moving average is $21.06.

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 the consensus estimate of ($0.09) by ($0.01). The business had revenue of $132.39 million for the quarter, compared to the consensus estimate of $130.58 million. Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. On average, sell-side analysts predict that Rocket Lab USA, Inc. will post -0.38 EPS for the current year.

Insider Transactions at Rocket Lab USA

In other news, insider Frank Klein sold 44,553 shares of Rocket Lab USA stock in a transaction on Friday, March 14th. The shares were sold at an average price of $18.18, for a total transaction of $809,973.54. Following the transaction, the insider now owns 1,419,479 shares in the company, valued at approximately $25,806,128.22. The trade was a 3.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 13.70% of the company's stock.

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.