Schonfeld Strategic Advisors LLC Purchases New Stake in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Schonfeld Strategic Advisors LLC acquired a new position in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,818 shares of the rocket manufacturer’s stock, valued at approximately $326,000.

A number of other large investors have also recently bought and sold shares of RKLB. Spectrum Wealth Counsel LLC bought a new stake in shares of Rocket Lab USA during the 4th quarter worth approximately $25,000. Sandy Spring Bank acquired a new position in Rocket Lab USA during the fourth quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. bought a new stake in Rocket Lab USA during the fourth quarter worth $40,000. Quarry LP bought a new stake in Rocket Lab USA during the fourth quarter worth $48,000. Finally, NewEdge Advisors LLC boosted its holdings in shares of Rocket Lab USA by 1,000.0% in the 4th quarter. NewEdge Advisors LLC now owns 1,925 shares of the rocket manufacturer’s stock valued at $49,000 after purchasing an additional 1,750 shares in the last quarter. 71.78% of the stock is currently owned by institutional investors and hedge funds.

Rocket Lab USA Stock Up 3.7%

Shares of NASDAQ RKLB opened at $21.26 on Tuesday. The company has a 50 day simple moving average of $19.71 and a 200 day simple moving average of $22.20. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16. Rocket Lab USA, Inc. has a 1 year low of $4.15 and a 1 year high of $33.34. The firm has a market cap of $9.64 billion, a PE ratio of -57.46 and a beta of 2.04.

Rocket Lab USA (NASDAQ:RKLB) last released its quarterly earnings results on Thursday, May 8th. The rocket manufacturer reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.02). Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. The business had revenue of $122.57 million for the quarter, compared to the consensus estimate of $120.74 million. During the same period in the previous year, the business posted ($0.09) EPS. Rocket Lab USA’s revenue was up 32.1% on a year-over-year basis. On average, research analysts forecast that Rocket Lab USA, Inc. will post -0.38 EPS for the current year.

Analyst Upgrades and Downgrades

RKLB has been the subject of a number of research analyst reports. Morgan Stanley boosted their price target on Rocket Lab USA from $18.00 to $20.00 and gave the stock an “equal weight” rating in a report on Monday, March 10th. 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 research report on Friday, February 28th. TD Cowen raised shares of Rocket Lab USA to a “strong-buy” rating in a report on Monday, February 24th. Needham & Company LLC began coverage on shares of Rocket Lab USA in a research note on Friday, April 25th. They issued a “buy” rating and a $28.00 price target on the stock. Finally, The Goldman Sachs Group upped their price objective on shares of Rocket Lab USA from $14.35 to $16.00 and gave the stock a “neutral” rating in a research report on Monday. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $23.50.

Insider Buying and Selling at Rocket Lab USA

In other news, insider Frank Klein sold 1,835 shares of the company’s stock in a transaction 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 sale, the insider now directly 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 13.70% of the company’s stock.

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.