Rhumbline Advisers boosted its stake in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB – Free Report) by 30.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 369,065 shares of the rocket manufacturer’s stock after purchasing an additional 86,736 shares during the quarter. Rhumbline Advisers owned about 0.08% of Rocket Lab USA worth $2,214,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RKLB. Vanguard Group Inc. boosted its holdings in shares of Rocket Lab USA by 6.8% during the 3rd quarter. Vanguard Group Inc. now owns 21,527,157 shares of the rocket manufacturer’s stock worth $87,615,000 after buying an additional 1,377,884 shares during the period. BlackRock Inc. boosted its holdings in Rocket Lab USA by 8.7% during the third quarter. BlackRock Inc. now owns 21,364,059 shares of the rocket manufacturer’s stock valued at $86,953,000 after acquiring an additional 1,706,729 shares during the period. State Street Corp grew its position in shares of Rocket Lab USA by 6.1% in the first quarter. State Street Corp now owns 16,150,861 shares of the rocket manufacturer’s stock valued at $65,249,000 after purchasing an additional 932,306 shares during the last quarter. ArrowMark Colorado Holdings LLC increased its stake in shares of Rocket Lab USA by 13.5% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 9,177,786 shares of the rocket manufacturer’s stock worth $34,600,000 after purchasing an additional 1,094,796 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Rocket Lab USA by 4.6% during the 1st quarter. Geode Capital Management LLC now owns 4,320,605 shares of the rocket manufacturer’s stock worth $17,455,000 after purchasing an additional 188,786 shares during the last quarter. Institutional investors and hedge funds own 54.19% of the company’s stock.
Insider Buying and Selling
In other news, CEO Peter Beck sold 3,600,000 shares of the stock in a transaction on Monday, September 11th. The stock was sold at an average price of $5.62, for a total value of $20,232,000.00. Following the transaction, the chief executive officer now owns 50,951,250 shares of the company’s stock, valued at approximately $286,346,025. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Rocket Lab USA news, CFO Adam C. Spice sold 61,377 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $5.74, for a total value of $352,303.98. Following the completion of the sale, the chief financial officer now owns 1,566,293 shares of the company’s stock, valued at $8,990,521.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Peter Beck sold 3,600,000 shares of the company’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $5.62, for a total transaction of $20,232,000.00. Following the completion of the sale, the chief executive officer now owns 50,951,250 shares of the company’s stock, valued at approximately $286,346,025. The disclosure for this sale can be found here. Insiders sold a total of 3,720,142 shares of company stock valued at $20,944,469 over the last ninety days. Insiders own 15.00% of the company’s stock.
Analyst Ratings Changes
Several research analysts have commented on the company. Roth Mkm reaffirmed a “buy” rating and issued a $10.00 price target on shares of Rocket Lab USA in a research report on Wednesday. Stifel Nicolaus reduced their price target on shares of Rocket Lab USA from $11.00 to $10.00 and set a “buy” rating for the company in a report on Wednesday. Citigroup dropped their price objective on shares of Rocket Lab USA from $7.40 to $5.75 in a report on Wednesday, September 20th. TD Cowen reduced their target price on shares of Rocket Lab USA from $9.50 to $8.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, Wells Fargo & Company decreased their target price on Rocket Lab USA from $6.75 to $5.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 20th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $8.53.
View Our Latest Research Report on RKLB
Rocket Lab USA Trading Up 0.9 %
Shares of NASDAQ RKLB traded up $0.04 during midday trading on Friday, hitting $4.38. The stock had a trading volume of 3,056,579 shares, compared to its average volume of 4,069,197. The firm has a market cap of $2.12 billion, a P/E ratio of -12.34 and a beta of 1.06. Rocket Lab USA, Inc. has a fifty-two week low of $3.48 and a fifty-two week high of $8.05. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.83 and a quick ratio of 1.50. The company’s 50-day simple moving average is $6.01 and its 200 day simple moving average is $5.20.
Rocket Lab USA (NASDAQ:RKLB – Get Free Report) last announced its quarterly earnings data on Tuesday, August 8th. The rocket manufacturer reported ($0.10) EPS for the quarter, hitting analysts’ consensus estimates of ($0.10). The firm had revenue of $62.05 million during the quarter, compared to analyst estimates of $61.68 million. Rocket Lab USA had a negative return on equity of 24.98% and a negative net margin of 70.47%. Research analysts anticipate that Rocket Lab USA, Inc. will post -0.37 EPS for the current 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.
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