Rafferty Asset Management LLC Has $2.28 Million Position in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Rafferty Asset Management LLC grew its position in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 5.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 89,586 shares of the rocket manufacturer’s stock after buying an additional 4,591 shares during the quarter. Rafferty Asset Management LLC’s holdings in Rocket Lab USA were worth $2,282,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Rocket Lab USA by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 36,195,577 shares of the rocket manufacturer’s stock valued at $921,901,000 after buying an additional 668,093 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Rocket Lab USA by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 8,285,693 shares of the rocket manufacturer’s stock valued at $211,084,000 after buying an additional 32,658 shares in the last quarter. FMR LLC raised its position 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 buying an additional 3,684,195 shares in the last quarter. Northern Trust Corp raised its position in shares of Rocket Lab USA by 9.5% in the 4th quarter. Northern Trust Corp now owns 3,227,617 shares of the rocket manufacturer’s stock valued at $82,207,000 after buying an additional 281,339 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Rocket Lab USA by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,902,212 shares of the rocket manufacturer’s stock valued at $73,919,000 after buying an additional 23,855 shares in the last quarter. 71.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on RKLB shares. KeyCorp dropped their target price on shares of Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. 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 report on Friday, February 28th. The Goldman Sachs Group lifted their price target on shares of Rocket Lab USA from $14.35 to $16.00 and gave the company a “neutral” rating in a report on Monday, May 12th. Morgan Stanley lifted their price target on shares of Rocket Lab USA from $18.00 to $20.00 and gave the company an “equal weight” rating in a report on Monday, March 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $28.00 price target on shares of Rocket Lab USA in a report on Tuesday, May 13th. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $23.50.

Insider Transactions at Rocket Lab USA

In other news, insider Frank Klein sold 44,553 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $18.18, for a total value of $809,973.54. Following the transaction, the insider now owns 1,419,479 shares in the company, valued at approximately $25,806,128.22. The trade was a 3.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 13.70% of the company’s stock.

Rocket Lab USA Trading Up 0.9%

RKLB opened at $25.80 on Tuesday. Rocket Lab USA, Inc. has a fifty-two week low of $4.15 and a fifty-two week high of $33.34. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16. The firm has a market capitalization of $11.70 billion, a price-to-earnings ratio of -69.73 and a beta of 2.04. The company’s 50 day moving average price is $20.34 and its two-hundred day moving average price is $22.67.

Rocket Lab USA (NASDAQ:RKLB) last posted its earnings results on Thursday, May 8th. The rocket manufacturer reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.02). Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. 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 firm earned ($0.09) earnings per share. The company’s revenue was up 32.1% compared to the same quarter last year. As a group, research analysts predict 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.