DnB Asset Management AS Makes New $301,000 Investment in Rocket Lab USA, Inc. (NASDAQ:RKLB)

DnB Asset Management AS purchased a new position in Rocket Lab USA, Inc. (NASDAQ:RKLBGet Rating) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 79,509 shares of the rocket manufacturer’s stock, valued at approximately $301,000.

Several other institutional investors and hedge funds have also bought and sold shares of RKLB. Hall Kathryn A. purchased a new position in Rocket Lab USA in the first quarter worth $81,000. Cresset Asset Management LLC purchased a new stake in shares of Rocket Lab USA during the first quarter valued at $82,000. Walleye Capital LLC grew its holdings in shares of Rocket Lab USA by 151.5% during the first quarter. Walleye Capital LLC now owns 10,303 shares of the rocket manufacturer’s stock valued at $83,000 after buying an additional 30,303 shares during the last quarter. Jasper Ridge Partners L.P. purchased a new stake in shares of Rocket Lab USA during the first quarter valued at $89,000. Finally, UBS Group AG grew its holdings in shares of Rocket Lab USA by 169.8% during the first quarter. UBS Group AG now owns 11,476 shares of the rocket manufacturer’s stock valued at $92,000 after buying an additional 7,223 shares during the last quarter. 65.04% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Company assumed coverage on shares of Rocket Lab USA in a report on Tuesday, June 21st. They set an “equal weight” rating and a $5.00 price objective on the stock. Cowen raised shares of Rocket Lab USA from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $6.50 to $8.00 in a report on Wednesday, August 31st. Cowen raised shares of Rocket Lab USA from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $6.50 to $8.00 in a report on Wednesday, August 31st. Morgan Stanley decreased their target price on shares of Rocket Lab USA from $16.00 to $12.00 and set an “overweight” rating for the company in a research report on Tuesday, August 16th. Finally, Stifel Nicolaus decreased their target price on shares of Rocket Lab USA from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, August 17th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of 12.67.

Rocket Lab USA Trading Down 12.4 %

Shares of Rocket Lab USA stock opened at 4.31 on Friday. The firm has a 50-day simple moving average of 5.19 and a two-hundred day simple moving average of 5.89. Rocket Lab USA, Inc. has a fifty-two week low of 3.53 and a fifty-two week high of 16.97. The company has a current ratio of 4.90, a quick ratio of 4.31 and a debt-to-equity ratio of 0.16.

Rocket Lab USA (NASDAQ:RKLBGet Rating) last issued its quarterly earnings data on Thursday, August 11th. The rocket manufacturer reported -0.08 earnings per share for the quarter, missing analysts’ consensus estimates of -0.06 by -0.02. The firm had revenue of 55.47 million during the quarter, compared to analyst estimates of 53.19 million. Rocket Lab USA had a negative return on equity of 16.31% and a negative net margin of 115.48%. Equities research analysts forecast that Rocket Lab USA, Inc. will post -0.32 earnings per share for the current year.

Insiders Place Their Bets

In other Rocket Lab USA news, CFO Adam C. Spice sold 41,508 shares of the company’s stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of 5.25, for a total value of 217,917.00. Following the completion of the transaction, the chief financial officer now owns 1,796,016 shares in the company, valued at 9,429,084. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CFO Adam C. Spice sold 41,508 shares of the business’s stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of 5.25, for a total transaction of 217,917.00. Following the completion of the sale, the chief financial officer now owns 1,796,016 shares of the company’s stock, valued at 9,429,084. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael D. Griffin sold 456,190 shares of the business’s stock in a transaction dated Friday, September 9th. The stock was sold at an average price of 5.62, for a total transaction of 2,563,787.80. Following the sale, the director now directly owns 190,156 shares of the company’s stock, valued at approximately 1,068,676.72. The disclosure for this sale can be found here. Over the last quarter, insiders sold 711,819 shares of company stock worth $3,981,840. Company insiders own 15.30% of the company’s stock.

About Rocket Lab USA

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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 engineering and 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.

See Also

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Institutional Ownership by Quarter for Rocket Lab USA (NASDAQ:RKLB)

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