Hsbc Holdings PLC Grows Stock Holdings in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Hsbc Holdings PLC boosted its stake in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) by 3,592.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,534,265 shares of the rocket manufacturer's stock after purchasing an additional 1,492,708 shares during the period. Hsbc Holdings PLC owned approximately 0.31% of Rocket Lab USA worth $39,477,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Chicago Partners Investment Group LLC boosted its stake in shares of Rocket Lab USA by 0.4% during the 4th quarter. Chicago Partners Investment Group LLC now owns 79,943 shares of the rocket manufacturer's stock worth $2,187,000 after acquiring an additional 334 shares in the last quarter. Wellington Shields & Co. LLC increased its position in shares of Rocket Lab USA by 0.5% in the fourth quarter. Wellington Shields & Co. LLC now owns 74,522 shares of the rocket manufacturer's stock valued at $1,898,000 after buying an additional 383 shares in the last quarter. Signaturefd LLC lifted its position in shares of Rocket Lab USA by 12.2% during the 4th quarter. Signaturefd LLC now owns 6,014 shares of the rocket manufacturer's stock valued at $153,000 after buying an additional 653 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in Rocket Lab USA by 3.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 21,747 shares of the rocket manufacturer's stock valued at $554,000 after acquiring an additional 696 shares during the period. Finally, CIBC Asset Management Inc raised its position in Rocket Lab USA by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 15,078 shares of the rocket manufacturer's stock worth $384,000 after acquiring an additional 746 shares during the period. Institutional investors and hedge funds own 71.78% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Needham & Company LLC assumed coverage on shares of Rocket Lab USA in a research report on Friday. They set a "buy" rating and a $28.00 price target for the company. 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. The Goldman Sachs Group boosted their price target on Rocket Lab USA from $12.00 to $13.50 and gave the stock a "neutral" rating in a research report on Thursday, January 16th. Morgan Stanley lifted their target price on shares of Rocket Lab USA from $18.00 to $20.00 and gave the stock an "equal weight" rating in a research note on Monday, March 10th. Finally, TD Cowen upgraded shares of Rocket Lab USA to a "strong-buy" rating in a research report on Monday, February 24th. Five analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Rocket Lab USA currently has an average rating of "Moderate Buy" and an average price target of $23.25.

Rocket Lab USA Trading Up 1.3 %

NASDAQ:RKLB traded up $0.29 on Monday, hitting $22.67. The stock had a trading volume of 13,112,413 shares, compared to its average volume of 15,497,817. The company has a fifty day moving average price of $19.57 and a two-hundred day moving average price of $21.32. Rocket Lab USA, Inc. has a 1-year low of $3.66 and a 1-year 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 stock has a market cap of $10.28 billion, a price-to-earnings ratio of -61.27 and a beta of 2.08.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The rocket manufacturer reported ($0.10) EPS for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.01). The business had revenue of $132.39 million during 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%. Equities research analysts expect that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Frank Klein sold 1,835 shares of the business's stock in a transaction on Monday, March 17th. The stock was 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 in the company, valued at approximately $28,253,644.92. The trade was a 0.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.