Sharpepoint LLC Takes Position in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Sharpepoint LLC acquired a new position in Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 87,330 shares of the rocket manufacturer's stock, valued at approximately $2,224,000. Rocket Lab USA comprises about 2.0% of Sharpepoint LLC's investment portfolio, making the stock its 17th largest position.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of Rocket Lab USA by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 36,195,577 shares of the rocket manufacturer's stock valued at $921,901,000 after buying an additional 668,093 shares during the last quarter. Geode Capital Management LLC boosted its position in Rocket Lab USA by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 8,285,693 shares of the rocket manufacturer's stock worth $211,084,000 after purchasing an additional 32,658 shares during the period. FMR LLC increased its stake in shares of Rocket Lab USA by 30,853.3% in the fourth quarter. FMR LLC now owns 3,696,136 shares of the rocket manufacturer's stock worth $94,141,000 after purchasing an additional 3,684,195 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Rocket Lab USA by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,902,212 shares of the rocket manufacturer's stock valued at $73,919,000 after purchasing an additional 23,855 shares during the period. Finally, Invesco Ltd. boosted its holdings in Rocket Lab USA by 41.1% in the 4th quarter. Invesco Ltd. now owns 2,394,732 shares of the rocket manufacturer's stock worth $60,994,000 after buying an additional 697,574 shares during the period. Institutional investors own 71.78% of the company's stock.

Rocket Lab USA Price Performance

Shares of NASDAQ RKLB traded up $0.39 during trading hours on Tuesday, reaching $19.04. 9,180,974 shares of the stock traded hands, compared to its average volume of 15,305,925. The company's 50-day simple moving average is $20.14 and its two-hundred day simple moving average is $21.00. The company has a market capitalization of $8.64 billion, a P/E ratio of -51.46 and a beta of 2.08. Rocket Lab USA, Inc. has a 52-week low of $3.49 and a 52-week 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.

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 analysts' expectations 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 forecast that Rocket Lab USA, Inc. will post -0.38 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on RKLB. KeyCorp dropped their target price on Rocket Lab USA from $32.00 to $28.00 and set an "overweight" rating on the stock in a research report on Friday, February 28th. Citigroup dropped their price objective on Rocket Lab USA from $35.00 to $33.00 and set a "buy" rating on the stock in a report on Friday, February 28th. Stifel Nicolaus lifted their target price on Rocket Lab USA from $26.00 to $31.00 and gave the company a "buy" rating in a report on Wednesday, January 8th. Morgan Stanley upped their price target on Rocket Lab USA from $18.00 to $20.00 and gave the company an "equal weight" rating in a research report 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 investment 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 company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $22.72.

Insider Activity at Rocket Lab USA

In other 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 transaction, the insider now directly owns 1,419,479 shares of the company's stock, valued at approximately $25,806,128.22. This represents a 3.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 13.70% of the stock is currently owned by company insiders.

About Rocket Lab USA

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.