Envestnet Asset Management Inc. Has $554,000 Stake in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Envestnet Asset Management Inc. grew its position in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 3.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,747 shares of the rocket manufacturer’s stock after purchasing an additional 696 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Rocket Lab USA were worth $554,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of RKLB. Spectrum Wealth Counsel LLC bought a new stake in Rocket Lab USA during the fourth quarter valued at $25,000. Sandy Spring Bank acquired a new position in Rocket Lab USA in the fourth quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. bought a new position in shares of Rocket Lab USA during the 4th quarter worth approximately $40,000. New Millennium Group LLC grew its position 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 buying an additional 1,050 shares during the period. Finally, AlphaQuest LLC acquired a new stake in shares of Rocket Lab USA during the 4th quarter worth approximately $52,000. 71.78% of the stock is currently owned by institutional investors and hedge funds.

Rocket Lab USA Trading Up 3.9 %

NASDAQ:RKLB opened at $22.99 on Friday. Rocket Lab USA, Inc. has a 12 month low of $3.66 and a 12 month high of $33.34. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97. The firm’s 50 day moving average is $19.46 and its 200 day moving average is $21.67. The stock has a market capitalization of $10.43 billion, a PE ratio of -62.13 and a beta of 2.08.

Rocket Lab USA (NASDAQ:RKLB) last posted its quarterly 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). The business had revenue of $132.39 million during the quarter, compared to the consensus estimate of $130.58 million. Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. Sell-side analysts expect that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current year.

Insider Transactions at Rocket Lab USA

In other news, insider Frank Klein sold 1,835 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 13.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on RKLB. Wells Fargo & Company lowered their target price on Rocket Lab USA from $21.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 8th. TD Cowen raised shares of Rocket Lab USA to a “strong-buy” rating in a research note on Monday, February 24th. Citigroup lowered their target price on shares of Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating for the company in a report on Friday, February 28th. KeyCorp cut 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. Finally, Needham & Company LLC assumed coverage on shares of Rocket Lab USA in a research note on Friday, April 25th. They issued a “buy” rating and a $28.00 price objective for the company. Five equities research 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $23.25.

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.