Two Sigma Investments LP Takes Position in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Two Sigma Investments LP acquired a new position in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,848,210 shares of the rocket manufacturer’s stock, valued at approximately $47,074,000. Two Sigma Investments LP owned approximately 0.37% of Rocket Lab USA at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. Tidal Investments LLC acquired a new position in Rocket Lab USA in the 4th quarter worth about $568,000. Rafferty Asset Management LLC increased its holdings in Rocket Lab USA by 5.4% in the fourth quarter. Rafferty Asset Management LLC now owns 89,586 shares of the rocket manufacturer’s stock worth $2,282,000 after buying an additional 4,591 shares during the last quarter. ProShare Advisors LLC raised its position in Rocket Lab USA by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 97,985 shares of the rocket manufacturer’s stock valued at $2,496,000 after acquiring an additional 32,239 shares in the last quarter. Quantinno Capital Management LP acquired a new stake in Rocket Lab USA in the fourth quarter valued at approximately $257,000. Finally, Man Group plc bought a new stake in Rocket Lab USA in the fourth quarter worth approximately $10,157,000. Institutional investors and hedge funds own 71.78% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Morgan Stanley lifted their price objective on shares of Rocket Lab USA from $18.00 to $20.00 and gave the company an “equal weight” rating in a research note on Monday, March 10th. The Goldman Sachs Group boosted their price target on Rocket Lab USA from $14.35 to $16.00 and gave the stock a “neutral” rating in a research report on Monday, May 12th. Citigroup lowered their price objective on Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Friday, February 28th. TD Cowen upgraded Rocket Lab USA to a “strong-buy” rating in a report on Monday, February 24th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $28.00 target price on shares of Rocket Lab USA in a research report on Tuesday, May 13th. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $23.50.

Insider Buying and Selling

In other Rocket Lab USA news, insider Frank Klein sold 1,835 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $19.93, for a total value of $36,571.55. Following the completion of the sale, the insider now 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 13.70% of the stock is owned by company insiders.

Rocket Lab USA Trading Up 0.9%

Shares of RKLB stock opened at $25.80 on Tuesday. The firm has a market capitalization of $11.70 billion, a P/E ratio of -69.73 and a beta of 2.04. Rocket Lab USA, Inc. has a 1 year low of $4.15 and a 1 year high of $33.34. The firm’s fifty day simple moving average is $20.34 and its 200 day simple moving average is $22.67. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97.

Rocket Lab USA (NASDAQ:RKLB) last posted its quarterly earnings results on Thursday, May 8th. The rocket manufacturer reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.02). The company had revenue of $122.57 million during 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 for the quarter was up 32.1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.09) earnings per share. As a group, sell-side analysts predict that Rocket Lab USA, Inc. will post -0.38 EPS for the current year.

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.