Tocqueville Asset Management L.P. Has $37.79 Million Position in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Tocqueville Asset Management L.P. reduced its holdings in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 3.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,483,845 shares of the rocket manufacturer’s stock after selling 59,605 shares during the quarter. Tocqueville Asset Management L.P. owned about 0.30% of Rocket Lab USA worth $37,794,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Spectrum Wealth Counsel LLC acquired a new stake in shares of Rocket Lab USA in the fourth quarter valued at about $25,000. Wingate Wealth Advisors Inc. acquired a new stake in Rocket Lab USA during the fourth quarter worth about $40,000. Smartleaf Asset Management LLC grew its position in Rocket Lab USA by 1,565.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,015 shares of the rocket manufacturer’s stock worth $53,000 after buying an additional 1,894 shares in the last quarter. AlphaQuest LLC acquired a new stake in Rocket Lab USA during the fourth quarter worth about $52,000. Finally, New Millennium Group LLC grew its position in Rocket Lab USA by 105.0% during the fourth quarter. New Millennium Group LLC now owns 2,050 shares of the rocket manufacturer’s stock worth $52,000 after buying an additional 1,050 shares in the last quarter. 71.78% of the stock is owned by institutional investors and hedge funds.

Rocket Lab USA Stock Performance

NASDAQ:RKLB opened at $19.10 on Tuesday. Rocket Lab USA, Inc. has a 1 year low of $3.47 and a 1 year high of $33.34. The firm has a 50 day moving average of $24.91 and a 200-day moving average of $18.93. 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 stock has a market capitalization of $8.66 billion, a P/E ratio of -51.62 and a beta of 2.06.

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

Analyst Ratings Changes

A number of equities research 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. Wells Fargo & Company decreased their target price on Rocket Lab USA from $22.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Monday, March 3rd. KeyCorp decreased their target price on Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Citigroup decreased their target price on 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. Finally, The Goldman Sachs Group raised their price target on shares of Rocket Lab USA from $12.00 to $13.50 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. Five 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. According to data from MarketBeat, Rocket Lab USA presently has an average rating of “Moderate Buy” and a consensus target price 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.