Voloridge Investment Management LLC Invests $22.33 Million in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Voloridge Investment Management LLC acquired a new position in Rocket Lab USA, Inc. (NASDAQ:RKLB) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 876,745 shares of the rocket manufacturer’s stock, valued at approximately $22,331,000. Voloridge Investment Management LLC owned about 0.18% of Rocket Lab USA as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Rocket Lab USA by 1.9% during 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 during the period. Geode Capital Management LLC lifted its position in Rocket Lab USA by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 8,285,693 shares of the rocket manufacturer’s stock valued at $211,084,000 after purchasing an additional 32,658 shares during the period. FMR LLC lifted its position in Rocket Lab USA by 30,853.3% during the fourth 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 boosted its position in Rocket Lab USA by 9.5% in the 4th 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Rocket Lab USA by 0.8% during the 4th 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. 71.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on RKLB shares. Wells Fargo & Company dropped their price objective 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. The Goldman Sachs Group raised their price objective on shares of Rocket Lab USA from $14.35 to $16.00 and gave the stock a “neutral” rating in a research note on Monday, May 12th. Citigroup decreased their price objective on shares of Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating for the company in a research report on Friday, February 28th. TD Cowen upgraded shares of Rocket Lab USA to a “strong-buy” rating in a research report on Monday, February 24th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $28.00 price objective on shares of Rocket Lab USA in a research report on Tuesday, May 13th. Five equities 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 company’s stock. 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.

Rocket Lab USA Stock Performance

NASDAQ RKLB opened at $25.82 on Friday. The company has a market cap of $11.71 billion, a PE ratio of -69.78 and a beta of 2.04. The stock’s 50 day simple moving average is $20.77 and its 200-day simple moving average is $22.81. Rocket Lab USA, Inc. has a 1-year low of $4.15 and a 1-year high of $33.34. 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 quarterly earnings results on Thursday, May 8th. The rocket manufacturer reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.02). The business had revenue of $122.57 million for the quarter, compared to analyst estimates of $120.74 million. Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. The business’s revenue was up 32.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.09) earnings per share. As a group, equities research analysts anticipate that Rocket Lab USA, Inc. will post -0.38 EPS for the current fiscal year.

Insider Buying and Selling at Rocket Lab USA

In other Rocket Lab USA news, insider Frank Klein sold 44,553 shares of the company’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $18.18, for a total value of $809,973.54. Following the completion of the sale, the insider now directly owns 1,419,479 shares in the company, valued at $25,806,128.22. This represents a 3.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 13.70% of the stock is owned by company 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.