ExodusPoint Capital Management LP Acquires New Stake in Rocket Lab USA, Inc. (NASDAQ:RKLB)

ExodusPoint Capital Management LP bought a new position in Rocket Lab USA, Inc. (NASDAQ:RKLB) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 213,301 shares of the rocket manufacturer’s stock, valued at approximately $5,433,000.

Several other institutional investors and hedge funds have also recently modified their holdings of RKLB. Spectrum Wealth Counsel LLC purchased a new stake in Rocket Lab USA during the 4th quarter valued at about $25,000. Sandy Spring Bank purchased a new stake in shares of Rocket Lab USA during the fourth quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Rocket Lab USA during the fourth quarter valued at approximately $40,000. New Millennium Group LLC raised its holdings in Rocket Lab USA by 105.0% in the 4th quarter. New Millennium Group LLC now owns 2,050 shares of the rocket manufacturer’s stock worth $52,000 after acquiring an additional 1,050 shares during the last quarter. Finally, AlphaQuest LLC purchased a new position in Rocket Lab USA in the 4th quarter worth approximately $52,000. 71.78% of the stock is currently owned by institutional investors.

Rocket Lab USA Trading Down 8.5 %

Shares of RKLB stock opened at $16.37 on Friday. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16. The company has a market cap of $7.42 billion, a price-to-earnings ratio of -44.24 and a beta of 2.08. Rocket Lab USA, Inc. has a 1 year low of $3.47 and a 1 year high of $33.34. The firm has a fifty day moving average price of $22.57 and a 200-day moving average price of $20.03.

Rocket Lab USA (NASDAQ:RKLB) last released 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). 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 $132.39 million for the quarter, compared to the consensus estimate of $130.58 million. As a group, equities analysts predict that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current year.

Insider Buying and Selling

In other Rocket Lab USA news, insider Frank Klein sold 1,835 shares of the stock in a transaction 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 represents a 0.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 13.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on RKLB. Wells Fargo & Company reduced their target price on Rocket Lab USA from $22.00 to $21.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. TD Cowen raised Rocket Lab USA to a “strong-buy” rating in a research report on Monday, February 24th. Stifel Nicolaus raised their price target on shares of Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Morgan Stanley boosted 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 report on Monday, March 10th. Finally, The Goldman Sachs Group increased their price objective on shares of Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a research report on Thursday, January 16th. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Rocket Lab USA presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.06.

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.