Xponance Inc. Buys 2,054 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB)

Xponance Inc. increased its position in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 8.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 25,229 shares of the rocket manufacturer’s stock after purchasing an additional 2,054 shares during the quarter. Xponance Inc.’s holdings in Rocket Lab USA were worth $643,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in RKLB. Spectrum Wealth Counsel LLC purchased a new position in shares of Rocket Lab USA in the 4th quarter worth approximately $25,000. Wingate Wealth Advisors Inc. bought a new position in shares of Rocket Lab USA during the 4th quarter valued at approximately $40,000. New Millennium Group LLC increased its stake in shares of Rocket Lab USA by 105.0% during the 4th quarter. New Millennium Group LLC now owns 2,050 shares of the rocket manufacturer’s stock worth $52,000 after purchasing an additional 1,050 shares during the last quarter. AlphaQuest LLC bought a new stake in shares of Rocket Lab USA in the 4th quarter worth approximately $52,000. Finally, Smartleaf Asset Management LLC lifted its stake in Rocket Lab USA by 1,565.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,015 shares of the rocket manufacturer’s stock valued at $53,000 after purchasing an additional 1,894 shares during the last quarter. 71.78% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on RKLB shares. Citigroup decreased their price objective on Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Morgan Stanley increased 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 research report on Monday, March 10th. The Goldman Sachs Group upped their price objective on shares of Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a research note on Thursday, January 16th. TD Cowen upgraded shares of Rocket Lab USA to a “strong-buy” rating in a research report on Monday, February 24th. Finally, Stifel Nicolaus raised their price target on Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $23.06.

Rocket Lab USA Stock Performance

Shares of RKLB opened at $20.27 on Wednesday. The firm has a market capitalization of $9.19 billion, a P/E ratio of -54.78 and a beta of 2.06. 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 business has a fifty day moving average of $24.05 and a 200 day moving average of $19.48. Rocket Lab USA, Inc. has a one year low of $3.47 and a one year high of $33.34.

Rocket Lab USA (NASDAQ:RKLB) last issued its 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). Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. The business had revenue of $132.39 million for 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 year.

Insider Buying and Selling

In other news, insider Frank Klein sold 44,553 shares of the firm’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 transaction of $809,973.54. Following the transaction, the insider now directly owns 1,419,479 shares of the company’s stock, valued at approximately $25,806,128.22. This trade represents a 3.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 13.70% of the stock is currently owned by corporate insiders.

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.