Sumitomo Mitsui Trust Holdings Inc. Grows Position in Rocket Lab USA, Inc. (NASDAQ:RKLB)
Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Rocket Lab USA, Inc. (NASDAQ:RKLB – Free Report) by 35.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,395,843 shares of the rocket manufacturer’s stock after acquiring an additional 365,018 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.29% of Rocket Lab USA worth $5,639,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of the business. IFP Advisors Inc raised its position in Rocket Lab USA by 49.8% in the fourth quarter. IFP Advisors Inc now owns 7,819 shares of the rocket manufacturer’s stock worth $81,000 after acquiring an additional 2,600 shares in the last quarter. Creative Planning raised its position in Rocket Lab USA by 22.5% in the fourth quarter. Creative Planning now owns 20,099 shares of the rocket manufacturer’s stock worth $76,000 after acquiring an additional 3,698 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Rocket Lab USA by 4.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 92,843 shares of the rocket manufacturer’s stock valued at $350,000 after purchasing an additional 3,867 shares during the last quarter. ProShare Advisors LLC grew its holdings in Rocket Lab USA by 16.7% in the fourth quarter. ProShare Advisors LLC now owns 27,750 shares of the rocket manufacturer’s stock valued at $105,000 after purchasing an additional 3,977 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Rocket Lab USA by 20.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,594 shares of the rocket manufacturer’s stock valued at $89,000 after purchasing an additional 4,025 shares during the last quarter. Hedge funds and other institutional investors own 54.58% of the company’s stock.
Analyst Ratings Changes
Separately, Citigroup began coverage on Rocket Lab USA in a report on Tuesday, April 18th. They issued a “neutral” rating and a $4.55 target price on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $8.45.
Rocket Lab USA Stock Down 4.0 %
RKLB opened at $7.50 on Friday. The company has a quick ratio of 2.72, a current ratio of 3.22 and a debt-to-equity ratio of 0.18. The firm has a market cap of $3.59 billion, a P/E ratio of -22.73 and a beta of 0.96. Rocket Lab USA, Inc. has a 52 week low of $3.48 and a 52 week high of $8.05. The business’s fifty day simple moving average is $5.57 and its 200 day simple moving average is $4.76.
Rocket Lab USA (NASDAQ:RKLB – Get Free Report) last posted its quarterly earnings data on Tuesday, May 9th. The rocket manufacturer reported ($0.10) EPS for the quarter, meeting analysts’ consensus estimates of ($0.10). The business had revenue of $54.90 million for the quarter, compared to analyst estimates of $52.56 million. Rocket Lab USA had a negative return on equity of 22.79% and a negative net margin of 68.77%. As a group, equities research analysts anticipate that Rocket Lab USA, Inc. will post -0.35 EPS for the current fiscal year.
Insiders Place Their Bets
In other Rocket Lab USA news, CFO Adam C. Spice sold 66,582 shares of the firm’s stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $4.50, for a total value of $299,619.00. Following the sale, the chief financial officer now directly owns 1,619,586 shares of the company’s stock, valued at approximately $7,288,137. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Rocket Lab USA news, Director Michael D. Griffin sold 50,689 shares of the firm’s stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $5.00, for a total value of $253,445.00. Following the sale, the director now directly owns 38,090 shares of the company’s stock, valued at approximately $190,450. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Adam C. Spice sold 66,582 shares of the firm’s stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $4.50, for a total value of $299,619.00. Following the completion of the sale, the chief financial officer now directly owns 1,619,586 shares in the company, valued at $7,288,137. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 190,388 shares of company stock valued at $877,022. Insiders own 15.00% of the company’s stock.
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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