ProShare Advisors LLC Purchases 32,239 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB)

ProShare Advisors LLC boosted its holdings in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 49.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 97,985 shares of the rocket manufacturer’s stock after buying an additional 32,239 shares during the quarter. ProShare Advisors LLC’s holdings in Rocket Lab USA were worth $2,496,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Quantinno Capital Management LP purchased a new position in Rocket Lab USA during the fourth quarter valued at $257,000. Man Group plc purchased a new stake in shares of Rocket Lab USA in the fourth quarter valued at approximately $10,157,000. Nomura Holdings Inc. purchased a new position in Rocket Lab USA during the 4th quarter valued at about $1,339,000. Nuveen Asset Management LLC raised its position in shares of Rocket Lab USA by 30.2% in the 4th quarter. Nuveen Asset Management LLC now owns 1,999,363 shares of the rocket manufacturer’s stock worth $50,924,000 after acquiring an additional 463,325 shares in the last quarter. Finally, Numerai GP LLC purchased a new position in Rocket Lab USA in the fourth quarter worth $333,000. Institutional investors own 71.78% of the company’s stock.

Insider Buying and Selling

In other news, insider Frank Klein sold 1,835 shares of the firm’s stock in a transaction on 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 directly owns 1,417,644 shares in the company, valued at approximately $28,253,644.92. This trade represents a 0.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 13.70% of the stock is currently owned by insiders.

Rocket Lab USA Trading Up 0.8%

Shares of RKLB stock opened at $26.00 on Wednesday. Rocket Lab USA, Inc. has a 1-year low of $4.15 and a 1-year high of $33.34. The firm has a market cap of $11.79 billion, a PE ratio of -70.27 and a beta of 2.04. The company has a 50-day moving average of $20.51 and a two-hundred day moving average of $22.69. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16.

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 the consensus estimate 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 company had revenue of $122.57 million during the quarter, compared to analyst estimates of $120.74 million. During the same quarter last year, the business posted ($0.09) EPS. The firm’s revenue for the quarter was up 32.1% on a year-over-year basis. On average, analysts predict that Rocket Lab USA, Inc. will post -0.38 EPS for the current year.

Analyst Ratings Changes

RKLB has been the topic of several recent research reports. KeyCorp lowered their price target on shares of Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Wells Fargo & Company decreased their target price on shares of 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. Morgan Stanley upped their target price on Rocket Lab USA from $18.00 to $20.00 and gave the company an “equal weight” rating in a report on Monday, March 10th. The Goldman Sachs Group lifted their price target on Rocket Lab USA from $14.35 to $16.00 and gave the stock a “neutral” rating in a report on Monday, May 12th. Finally, TD Cowen raised shares of Rocket Lab USA to a “strong-buy” rating in a report on Monday, February 24th. Five 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 company’s stock. According to MarketBeat, Rocket Lab USA has an average rating of “Moderate Buy” and an average price target of $23.50.

Rocket Lab USA 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.