Rocket Lab USA, Inc. (NASDAQ:RKLB) Shares Purchased by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC boosted its position in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) by 1,646.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 29,165 shares of the rocket manufacturer's stock after purchasing an additional 27,495 shares during the quarter. Tower Research Capital LLC TRC's holdings in Rocket Lab USA were worth $743,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at Rocket Lab USA

In other news, insider Frank Klein sold 44,553 shares of the firm's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $18.18, for a total value of $809,973.54. Following the transaction, the insider now owns 1,419,479 shares of the company's stock, valued at approximately $25,806,128.22. This trade represents a 3.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 13.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on RKLB shares. Stifel Nicolaus upped their price objective on Rocket Lab USA from $26.00 to $31.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th. Needham & Company LLC began coverage on shares of Rocket Lab USA in a research note on Friday. They set a "buy" rating and a $28.00 price target on the stock. TD Cowen raised shares of Rocket Lab USA to a "strong-buy" rating in a research report on Monday, February 24th. Citigroup reduced their price objective on shares of Rocket Lab USA from $35.00 to $33.00 and set a "buy" rating on the stock in a research note on Friday, February 28th. Finally, 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. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $23.25.

Rocket Lab USA Trading Up 2.3 %

RKLB stock opened at $22.38 on Friday. 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 company has a market cap of $10.15 billion, a price-to-earnings ratio of -60.48 and a beta of 2.08. The business has a fifty day simple moving average of $19.57 and a 200-day simple moving average of $21.24. Rocket Lab USA, Inc. has a 52 week low of $3.66 and a 52 week high of $33.34.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last announced its quarterly 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 firm 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%. On average, equities research analysts expect that Rocket Lab USA, Inc. will post -0.38 EPS for the current year.

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.

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