Quantinno Capital Management LP Makes New Investment in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Quantinno Capital Management LP bought a new stake in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 10,071 shares of the rocket manufacturer’s stock, valued at approximately $257,000.

A number of other large investors also recently added to or reduced their stakes in RKLB. Nisa Investment Advisors LLC lifted its position in Rocket Lab USA by 134.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 9,290 shares of the rocket manufacturer’s stock valued at $237,000 after purchasing an additional 5,325 shares during the period. Avior Wealth Management LLC lifted its position in Rocket Lab USA by 478.6% during the 4th quarter. Avior Wealth Management LLC now owns 6,966 shares of the rocket manufacturer’s stock valued at $177,000 after purchasing an additional 5,762 shares during the period. KBC Group NV lifted its position in Rocket Lab USA by 36.1% during the 4th quarter. KBC Group NV now owns 14,258 shares of the rocket manufacturer’s stock valued at $363,000 after purchasing an additional 3,779 shares during the period. Capital Investment Advisory Services LLC acquired a new position in Rocket Lab USA during the 4th quarter valued at about $207,000. Finally, New Millennium Group LLC lifted its position in 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 valued at $52,000 after purchasing an additional 1,050 shares during the period. 71.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on RKLB shares. The Goldman Sachs Group increased their price target on shares of Rocket Lab USA from $14.35 to $16.00 and gave the company a “neutral” rating in a research report on Monday, May 12th. Needham & Company LLC reiterated a “buy” rating and issued a $28.00 price target on shares of Rocket Lab USA in a research report on Tuesday, May 13th. Morgan Stanley increased their price target on shares of Rocket Lab USA from $18.00 to $20.00 and gave the company an “equal weight” rating in a research report on Monday, March 10th. 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 research report on Friday, February 28th. Finally, Wells Fargo & Company cut their price target on shares of 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. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $23.50.

Insider Transactions at Rocket Lab USA

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

Rocket Lab USA Stock Performance

Shares of RKLB stock opened at $25.42 on Tuesday. 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 company has a market capitalization of $11.53 billion, a P/E ratio of -68.70 and a beta of 2.04. The company’s 50 day moving average price is $21.05 and its two-hundred day moving average price is $23.12. Rocket Lab USA, Inc. has a 52 week low of $4.15 and a 52 week high of $33.34.

Rocket Lab USA (NASDAQ:RKLB) last announced its earnings results on Thursday, May 8th. The rocket manufacturer reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.02). The company 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 quarterly revenue was up 32.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.09) earnings per share. On average, analysts expect that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current fiscal year.

About Rocket Lab USA

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.