First Trust Advisors LP Increases Position in Rocket Lab USA, Inc. (NASDAQ:RKLB)

First Trust Advisors LP lifted its position in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 90.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 789,266 shares of the rocket manufacturer’s stock after buying an additional 374,356 shares during the quarter. First Trust Advisors LP owned approximately 0.16% of Rocket Lab USA worth $20,103,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of RKLB. Sanctuary Advisors LLC lifted its position in shares of Rocket Lab USA by 34.0% in the third quarter. Sanctuary Advisors LLC now owns 21,226 shares of the rocket manufacturer’s stock valued at $207,000 after acquiring an additional 5,381 shares in the last quarter. Franklin Resources Inc. purchased a new position in Rocket Lab USA in the 3rd quarter worth approximately $107,000. Everence Capital Management Inc. bought a new position in Rocket Lab USA in the 4th quarter worth approximately $286,000. Harbor Capital Advisors Inc. purchased a new position in shares of Rocket Lab USA in the fourth quarter worth $2,395,000. Finally, SeaCrest Wealth Management LLC bought a new position in shares of Rocket Lab USA during the fourth quarter worth $754,000. Institutional investors own 71.78% of the company’s stock.

Insider Activity 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 on Monday, March 17th. The stock was 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 directly owns 1,417,644 shares in the company, valued at approximately $28,253,644.92. This represents a 0.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 13.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Wells Fargo & Company reduced their price target on shares of Rocket Lab USA from $21.00 to $18.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. Citigroup decreased their target price on Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. TD Cowen upgraded Rocket Lab USA to a “strong-buy” rating in a report on Monday, February 24th. Morgan Stanley increased their target price 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, Stifel Nicolaus upped their price target 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. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $23.25.

Rocket Lab USA Stock Up 2.3 %

Shares of NASDAQ RKLB opened at $22.38 on Friday. Rocket Lab USA, Inc. has a 1 year low of $3.66 and a 1 year high of $33.34. The firm has a 50-day simple moving average of $19.57 and a two-hundred day simple moving average of $21.24. The company has a market cap of $10.15 billion, a P/E ratio of -60.48 and a beta of 2.08. 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 (NASDAQ:RKLB) last announced its quarterly earnings data on Thursday, February 27th. The rocket manufacturer reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.01). 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 $132.39 million during the quarter, compared to the consensus estimate of $130.58 million. Research analysts anticipate that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current year.

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.