Rocket Lab USA, Inc. (NASDAQ:RKLB) Shares Acquired by ProShare Advisors LLC

ProShare Advisors LLC raised its position in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB – Get Rating) by 16.7% in the fourth quarter, HoldingsChannel reports. The firm owned 27,750 shares of the rocket manufacturer’s stock after acquiring an additional 3,977 shares during the period. ProShare Advisors LLC’s holdings in Rocket Lab USA were worth $105,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RKLB. Vanguard Group Inc. boosted its stake in Rocket Lab USA by 806.4% during the 1st quarter. Vanguard Group Inc. now owns 21,373,494 shares of the rocket manufacturer’s stock valued at $172,057,000 after purchasing an additional 19,015,363 shares during the period. State Street Corp raised its position in shares of Rocket Lab USA by 1,164.6% during the 1st quarter. State Street Corp now owns 7,942,133 shares of the rocket manufacturer’s stock worth $63,934,000 after buying an additional 7,314,121 shares in the last quarter. BlackRock Inc. raised its position in shares of Rocket Lab USA by 165.6% during the 1st quarter. BlackRock Inc. now owns 6,444,486 shares of the rocket manufacturer’s stock worth $51,878,000 after buying an additional 4,017,797 shares in the last quarter. ARK Investment Management LLC raised its position in shares of Rocket Lab USA by 196.9% during the 4th quarter. ARK Investment Management LLC now owns 2,567,848 shares of the rocket manufacturer’s stock worth $9,681,000 after buying an additional 1,702,861 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of Rocket Lab USA by 460.0% during the 2nd quarter. Northern Trust Corp now owns 1,759,047 shares of the rocket manufacturer’s stock worth $6,666,000 after buying an additional 1,444,907 shares in the last quarter. 69.11% of the stock is owned by institutional investors and hedge funds.

Rocket Lab USA Stock Down 0.8 %

RKLB stock opened at $3.85 on Monday. Rocket Lab USA, Inc. has a 52-week low of $3.48 and a 52-week high of $7.29. The company’s 50 day simple moving average is $4.01 and its 200-day simple moving average is $4.35. The company has a debt-to-equity ratio of 0.17, a current ratio of 4.06 and a quick ratio of 3.50. The firm has a market capitalization of $1.84 billion, a P/E ratio of -13.28 and a beta of 0.77.

Rocket Lab USA (NASDAQ:RKLB – Get Rating) last announced its quarterly earnings data on Tuesday, February 28th. The rocket manufacturer reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02). Rocket Lab USA had a negative net margin of 64.43% and a negative return on equity of 19.35%. The company had revenue of $51.76 million for the quarter, compared to analysts’ expectations of $46.76 million. As a group, equities research analysts anticipate that Rocket Lab USA, Inc. will post -0.34 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on RKLB. Citigroup assumed coverage on shares of Rocket Lab USA in a research report on Tuesday, April 18th. They set a “neutral” rating and a $4.55 price target on the stock. Wells Fargo & Company dropped their target price on shares of Rocket Lab USA from $5.75 to $5.50 and set an “equal weight” rating on the stock in a report on Monday, March 6th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Rocket Lab USA from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, March 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $9.21.

Insider Activity at Rocket Lab USA

In related news, CFO Adam C. Spice sold 64,189 shares of the business’s stock in a transaction that occurred on Thursday, March 9th. The shares were sold at an average price of $4.23, for a total transaction of $271,519.47. Following the transaction, the chief financial officer now directly owns 1,686,168 shares of the company’s stock, valued at $7,132,490.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Rocket Lab USA news, CFO Adam C. Spice sold 64,189 shares of the business’s stock in a transaction that occurred on Thursday, March 9th. The shares were sold at an average price of $4.23, for a total value of $271,519.47. Following the completion of the sale, the chief financial officer now directly owns 1,686,168 shares of the company’s stock, valued at $7,132,490.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Arjun Kampani sold 22,532 shares of the business’s stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $4.23, for a total transaction of $95,310.36. Following the completion of the sale, the insider now directly owns 568,493 shares of the company’s stock, valued at $2,404,725.39. The disclosure for this sale can be found here. 15.30% of the stock is currently owned by insiders.

About Rocket Lab USA

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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 engineering and 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.