Teachers Retirement System of The State of Kentucky Purchases New Holdings in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Teachers Retirement System of The State of Kentucky purchased a new stake in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 26,187 shares of the rocket manufacturer’s stock, valued at approximately $667,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC grew its stake in shares of Rocket Lab USA by 30,853.3% in the 4th quarter. FMR LLC now owns 3,696,136 shares of the rocket manufacturer’s stock valued at $94,141,000 after purchasing an additional 3,684,195 shares during the period. Renaissance Technologies LLC boosted its stake in Rocket Lab USA by 1,765.4% in the fourth quarter. Renaissance Technologies LLC now owns 1,818,800 shares of the rocket manufacturer’s stock worth $46,325,000 after purchasing an additional 1,721,300 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Rocket Lab USA during the fourth quarter worth $21,896,000. Invesco Ltd. grew its holdings in shares of Rocket Lab USA by 41.1% during the fourth quarter. Invesco Ltd. now owns 2,394,732 shares of the rocket manufacturer’s stock worth $60,994,000 after purchasing an additional 697,574 shares during the last quarter. Finally, Wellington Management Group LLP bought a new stake in shares of Rocket Lab USA during the fourth quarter worth $17,261,000. 71.78% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Needham & Company LLC assumed coverage on Rocket Lab USA in a report on Friday. They set a “buy” rating and a $28.00 target price on the stock. Stifel Nicolaus increased their target price on Rocket Lab USA from $26.00 to $31.00 and gave the stock 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 note on Monday, March 10th. Citigroup cut their price target on Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Finally, TD Cowen raised 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, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $23.25.

Insider Transactions at Rocket Lab USA

In other Rocket Lab USA news, insider Frank Klein sold 1,835 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 1,417,644 shares in the company, valued at $28,253,644.92. This trade represents a 0.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 13.70% of the stock is currently owned by insiders.

Rocket Lab USA Trading Up 1.3 %

NASDAQ:RKLB opened at $22.67 on Tuesday. The firm has a market capitalization of $10.28 billion, a price-to-earnings ratio of -61.27 and a beta of 2.08. 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 business’s 50-day moving average price is $19.50 and its two-hundred day moving average price is $21.41. Rocket Lab USA, Inc. has a 1-year low of $3.66 and a 1-year high of $33.34.

Rocket Lab USA (NASDAQ:RKLB) last released its quarterly earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). The business had revenue of $132.39 million for the quarter, compared to analyst estimates of $130.58 million. Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. On average, equities analysts expect that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current year.

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.