Franklin Resources Inc. grew its holdings in Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) by 2,808.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 316,075 shares of the rocket manufacturer's stock after buying an additional 305,206 shares during the quarter. Franklin Resources Inc. owned 0.06% of Rocket Lab USA worth $8,050,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently made changes to their positions in RKLB. Spectrum Wealth Counsel LLC bought a new stake in Rocket Lab USA in the fourth quarter valued at $25,000. Sandy Spring Bank acquired a new stake in shares of Rocket Lab USA during the 4th quarter worth about $26,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Rocket Lab USA during the 4th quarter worth about $40,000. New Millennium Group LLC boosted its position in Rocket Lab USA by 105.0% in the fourth quarter. New Millennium Group LLC now owns 2,050 shares of the rocket manufacturer's stock valued at $52,000 after buying an additional 1,050 shares in the last quarter. Finally, AlphaQuest LLC acquired a new position in Rocket Lab USA in the fourth quarter valued at about $52,000. 71.78% of the stock is owned by institutional investors.
Rocket Lab USA Price Performance
Shares of NASDAQ RKLB remained flat at $19.63 during mid-day trading on Friday. 15,461,941 shares of the stock traded hands, compared to its average volume of 15,175,991. Rocket Lab USA, Inc. has a one year low of $3.47 and a one year high of $33.34. The company has a 50 day simple moving average of $21.18 and a two-hundred day simple moving average of $20.57. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $8.90 billion, a PE ratio of -53.05 and a beta of 2.08.
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 (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 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, sell-side analysts predict that Rocket Lab USA, Inc. will post -0.38 EPS for the current year.
Insider Buying and Selling at Rocket Lab USA
In other Rocket Lab USA news, insider Frank Klein sold 1,835 shares of the company's stock in a transaction that occurred 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 completion of the sale, the insider now owns 1,417,644 shares of the company's stock, valued at approximately $28,253,644.92. This represents a 0.13 % 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. Insiders own 13.70% of the company's stock.
Analyst Ratings Changes
A number of research analysts have recently issued reports on the stock. Stifel Nicolaus lifted their target price 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. The Goldman Sachs Group boosted their price objective on Rocket Lab USA from $12.00 to $13.50 and gave the stock a "neutral" rating in a research note on Thursday, January 16th. KeyCorp decreased their target price on Rocket Lab USA from $32.00 to $28.00 and set an "overweight" rating on the stock in a report on Friday, February 28th. Wells Fargo & Company cut 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, TD Cowen raised shares of Rocket Lab USA to a "strong-buy" rating in a research note on Monday, February 24th. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Rocket Lab USA has a consensus rating of "Moderate Buy" and an average price target of $22.72.
Get Our Latest Stock Analysis on RKLB
Rocket Lab USA Profile
(
Free Report)
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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