Alliancebernstein L.P. Buys 54,480 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB)

Alliancebernstein L.P. lifted its stake in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 15.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 413,860 shares of the rocket manufacturer’s stock after acquiring an additional 54,480 shares during the period. Alliancebernstein L.P.’s holdings in Rocket Lab USA were worth $10,541,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP bought a new position in shares of Rocket Lab USA in the fourth quarter valued at approximately $17,261,000. O Shaughnessy Asset Management LLC bought a new position in Rocket Lab USA in the 4th quarter worth $366,000. CIBC Private Wealth Group LLC lifted its position in Rocket Lab USA by 3,019.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 4,679 shares of the rocket manufacturer’s stock worth $128,000 after acquiring an additional 4,529 shares during the last quarter. RWA Wealth Partners LLC bought a new stake in Rocket Lab USA during the fourth quarter valued at about $400,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in Rocket Lab USA during the fourth quarter valued at about $16,044,000. 71.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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 sale, the insider now directly owns 1,417,644 shares in the company, valued at $28,253,644.92. This represents a 0.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 13.70% of the stock is owned by corporate insiders.

Rocket Lab USA Trading Down 4.7 %

Shares of RKLB stock opened at $19.63 on Friday. The firm has a fifty day moving average of $21.36 and a 200-day moving average of $20.41. The stock has a market cap of $8.90 billion, a price-to-earnings ratio of -53.05 and a beta of 2.08. Rocket Lab USA, Inc. has a 52-week low of $3.47 and a 52-week high of $33.34. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58.

Rocket Lab USA (NASDAQ:RKLB) last posted its quarterly earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The business had revenue of $132.39 million during 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 research analysts forecast that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. TD Cowen raised Rocket Lab USA to a “strong-buy” rating in a research report on Monday, February 24th. KeyCorp cut their price target on Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Morgan Stanley raised their price objective on shares of Rocket Lab USA from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Monday, March 10th. Wells Fargo & Company cut their target price on shares of Rocket Lab USA from $21.00 to $18.00 and set an “equal weight” rating for the company in a research note on Tuesday. Finally, Citigroup decreased their price target on shares of 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. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Rocket Lab USA presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.72.

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.