Rocket Lab USA, Inc. (NASDAQ:RKLB) Holdings Raised by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. increased its position in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 1,602.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,971 shares of the rocket manufacturer’s stock after purchasing an additional 15,974 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Rocket Lab USA were worth $432,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. GSA Capital Partners LLP acquired a new stake in Rocket Lab USA in the 3rd quarter valued at approximately $139,000. Victory Capital Management Inc. grew its stake in shares of Rocket Lab USA by 4.4% in the third quarter. Victory Capital Management Inc. now owns 40,587 shares of the rocket manufacturer’s stock worth $395,000 after purchasing an additional 1,709 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Rocket Lab USA by 28.7% during the third quarter. Advisors Asset Management Inc. now owns 14,438 shares of the rocket manufacturer’s stock valued at $140,000 after purchasing an additional 3,220 shares during the period. Intech Investment Management LLC bought a new stake in shares of Rocket Lab USA during the third quarter valued at about $921,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Rocket Lab USA by 22.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer’s stock worth $28,006,000 after purchasing an additional 532,207 shares during the period. Institutional investors and hedge funds own 71.78% of the company’s stock.

Insiders Place Their Bets

In related news, insider Frank Klein sold 1,835 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $19.93, for a total transaction of $36,571.55. Following the transaction, the insider now directly owns 1,417,644 shares in the company, valued at approximately $28,253,644.92. The trade was a 0.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 13.70% of the company’s stock.

Rocket Lab USA Stock Performance

Shares of NASDAQ:RKLB opened at $18.53 on Friday. 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 stock has a market capitalization of $8.40 billion, a P/E ratio of -50.08 and a beta of 2.06. The business has a 50-day moving average price of $24.36 and a two-hundred day moving average price of $19.01. Rocket Lab USA, Inc. has a 1-year low of $3.47 and a 1-year high of $33.34.

Rocket Lab USA (NASDAQ:RKLB) last posted its 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 company had revenue of $132.39 million for the quarter, compared to analyst estimates of $130.58 million. Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. Equities analysts predict that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. TD Cowen upgraded shares of Rocket Lab USA to a “strong-buy” rating in a research report on Monday, February 24th. Morgan Stanley boosted their target price on Rocket Lab USA from $18.00 to $20.00 and gave the stock an “equal weight” rating in a report on Monday, March 10th. Wells Fargo & Company decreased their price target on Rocket Lab USA from $22.00 to $21.00 and set an “equal weight” rating for the company in a research note on Monday, March 3rd. KeyCorp dropped their price objective on Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Finally, Citigroup cut their price objective on Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating for the company in a report on Friday, February 28th. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.