Ethic Inc. Increases Stake in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Ethic Inc. boosted its stake in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 7.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 32,051 shares of the rocket manufacturer’s stock after purchasing an additional 2,171 shares during the period. Ethic Inc.’s holdings in Rocket Lab USA were worth $816,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in 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 worth $921,901,000 after acquiring an additional 668,093 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Rocket Lab USA by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 8,285,693 shares of the rocket manufacturer’s stock worth $211,084,000 after purchasing an additional 32,658 shares during the last quarter. FMR LLC raised its stake in shares of Rocket Lab USA by 30,853.3% in the fourth quarter. FMR LLC now owns 3,696,136 shares of the rocket manufacturer’s stock worth $94,141,000 after purchasing an additional 3,684,195 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Rocket Lab USA by 9.5% during the fourth quarter. Northern Trust Corp now owns 3,227,617 shares of the rocket manufacturer’s stock worth $82,207,000 after purchasing an additional 281,339 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Rocket Lab USA by 0.8% in the fourth 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 during the last quarter. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Insiders Place Their Bets

In other news, insider Frank Klein sold 1,835 shares of Rocket Lab USA stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $19.93, for a total value of $36,571.55. Following the sale, the insider now 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 sale 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 company insiders.

Rocket Lab USA Stock Performance

NASDAQ RKLB opened at $24.13 on Thursday. The stock has a market capitalization of $10.94 billion, a price-to-earnings ratio of -65.21 and a beta of 2.04. The stock has a 50-day moving average of $19.88 and a 200 day moving average of $22.21. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97. Rocket Lab USA, Inc. has a twelve month low of $4.15 and a twelve month high of $33.34.

Rocket Lab USA (NASDAQ:RKLB) last announced its earnings results on Thursday, May 8th. The rocket manufacturer reported ($0.12) earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $120.74 million. During the same period in the previous year, the company earned ($0.09) earnings per share. The company’s quarterly revenue was up 32.1% compared to the same quarter last year. Sell-side analysts anticipate that Rocket Lab USA, Inc. will post -0.38 EPS for the current fiscal year.

Analysts Set New Price Targets

RKLB has been the topic of several research reports. Morgan Stanley increased their price target on shares of Rocket Lab USA from $18.00 to $20.00 and gave the stock an “equal weight” rating in a report on Monday, March 10th. Wells Fargo & Company lowered 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. KeyCorp reduced their price objective on Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. The Goldman Sachs Group raised their target price on Rocket Lab USA from $14.35 to $16.00 and gave the stock a “neutral” rating in a report on Monday. Finally, TD Cowen raised Rocket Lab USA to a “strong-buy” rating in a report on Monday, February 24th. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Rocket Lab USA currently has a consensus rating of “Moderate Buy” and an average target price of $23.50.

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.