Ameriprise Financial Inc. Acquires Shares of 1,240,381 Rocket Lab USA, Inc. (NASDAQ:RKLB)

Ameriprise Financial Inc. bought a new stake in Rocket Lab USA, Inc. (NASDAQ:RKLB) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,240,381 shares of the rocket manufacturer’s stock, valued at approximately $31,601,000.

A number of other institutional investors have also recently made changes to their positions in RKLB. Vanguard Group Inc. grew its position in shares of Rocket Lab USA by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 36,195,577 shares of the rocket manufacturer’s stock valued at $921,901,000 after purchasing an additional 668,093 shares in the last quarter. Geode Capital Management LLC lifted its holdings 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 buying an additional 32,658 shares in the last quarter. FMR LLC boosted its holdings in 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 purchasing an additional 3,684,195 shares during the period. Northern Trust Corp grew its position in shares of Rocket Lab USA by 9.5% during the 4th quarter. Northern Trust Corp now owns 3,227,617 shares of the rocket manufacturer’s stock valued at $82,207,000 after purchasing an additional 281,339 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of 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 worth $73,919,000 after purchasing an additional 23,855 shares during the period. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on RKLB. Morgan Stanley boosted 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 research note on Monday, March 10th. KeyCorp lowered their price target on shares of 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. Wells Fargo & Company reduced their price objective on Rocket Lab USA from $21.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 8th. Citigroup decreased their target price on shares of 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. Finally, TD Cowen raised Rocket Lab USA to a “strong-buy” rating in a research note on Monday, February 24th. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Rocket Lab USA currently has an average rating of “Moderate Buy” and an average target price of $23.50.

Insider Transactions at Rocket Lab USA

In other Rocket Lab USA 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 completion of the transaction, the insider now directly owns 1,417,644 shares of the company’s stock, valued at approximately $28,253,644.92. The trade was a 0.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 13.70% of the stock is owned by insiders.

Rocket Lab USA Stock Performance

Rocket Lab USA stock opened at $21.83 on Wednesday. Rocket Lab USA, Inc. has a fifty-two week low of $4.15 and a fifty-two week high of $33.34. The stock’s 50 day simple moving average is $19.77 and its two-hundred day simple moving average is $22.20. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58. The stock has a market cap of $9.90 billion, a price-to-earnings ratio of -59.00 and a beta of 2.04.

Rocket Lab USA (NASDAQ:RKLB) last issued its quarterly earnings results on Thursday, May 8th. The rocket manufacturer reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.02). 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 $122.57 million for the quarter, compared to analysts’ expectations of $120.74 million. During the same period last year, the business earned ($0.09) earnings per share. The company’s revenue was up 32.1% on a year-over-year basis. As a group, analysts expect that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current fiscal year.

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.