Rocket Lab USA, Inc. (NASDAQ:RKLB) Holdings Increased by Prudential Financial Inc.

Prudential Financial Inc. increased its stake in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 94.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 808,900 shares of the rocket manufacturer’s stock after acquiring an additional 393,730 shares during the period. Prudential Financial Inc.’s holdings in Rocket Lab USA were worth $20,603,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Citigroup Inc. boosted its stake in Rocket Lab USA by 46.8% during the 3rd quarter. Citigroup Inc. now owns 691,387 shares of the rocket manufacturer’s stock valued at $6,727,000 after purchasing an additional 220,432 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Rocket Lab USA by 22.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer’s stock valued at $28,006,000 after buying an additional 532,207 shares in the last quarter. Geode Capital Management LLC grew its holdings in Rocket Lab USA by 12.2% during the third quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock worth $80,317,000 after acquiring an additional 898,223 shares during the period. FORA Capital LLC acquired a new stake in Rocket Lab USA in the 3rd quarter valued at about $449,000. Finally, National Bank of Canada FI boosted its position in shares of Rocket Lab USA by 149.2% during the 3rd quarter. National Bank of Canada FI now owns 50,408 shares of the rocket manufacturer’s stock valued at $490,000 after purchasing an additional 30,178 shares in the last quarter. Institutional investors and hedge funds own 71.78% of the company’s stock.

Insiders Place Their Bets

In other news, insider Frank Klein sold 1,835 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $19.93, for a total transaction of $36,571.55. Following the completion of the sale, the insider now 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 13.70% of the company’s stock.

Rocket Lab USA Trading Down 4.1 %

Rocket Lab USA stock opened at $19.44 on Thursday. 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, Inc. has a 12 month low of $3.47 and a 12 month high of $33.34. The company’s fifty day simple moving average is $23.94 and its 200-day simple moving average is $19.48. The stock has a market cap of $8.82 billion, a P/E ratio of -52.54 and a beta of 2.06.

Rocket Lab USA (NASDAQ:RKLB) last issued its quarterly earnings data on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The business had revenue of $132.39 million for the quarter, compared to the consensus estimate of $130.58 million. Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. As a group, sell-side analysts forecast that Rocket Lab USA, Inc. will post -0.38 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. The Goldman Sachs Group raised their target price on shares of Rocket Lab USA from $12.00 to $13.50 and gave the stock a “neutral” rating in a report on Thursday, January 16th. Citigroup decreased their price target on Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Wells Fargo & Company reduced their price objective on shares of Rocket Lab USA from $22.00 to $21.00 and set an “equal weight” rating for the company in a research note on Monday, March 3rd. Stifel Nicolaus boosted their price target on shares of Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Finally, Morgan Stanley boosted their target price on shares of 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. 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 data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $23.06.

Rocket Lab USA Company 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.