Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Acquires 84,590 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 40.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 291,666 shares of the rocket manufacturer’s stock after purchasing an additional 84,590 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. owned about 0.06% of Rocket Lab USA worth $1,750,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. increased its holdings in Rocket Lab USA by 490.1% in the 1st quarter. JPMorgan Chase & Co. now owns 800,962 shares of the rocket manufacturer’s stock worth $6,447,000 after acquiring an additional 665,221 shares during the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in Rocket Lab USA in the 1st quarter worth about $119,000. BlackRock Inc. increased its holdings in Rocket Lab USA by 165.6% in the 1st quarter. BlackRock Inc. now owns 6,444,486 shares of the rocket manufacturer’s stock worth $51,878,000 after acquiring an additional 4,017,797 shares during the last quarter. Vontobel Holding Ltd. purchased a new stake in Rocket Lab USA in the 1st quarter worth about $138,000. Finally, Blair William & Co. IL increased its holdings in Rocket Lab USA by 5.9% in the 1st quarter. Blair William & Co. IL now owns 426,519 shares of the rocket manufacturer’s stock worth $3,433,000 after acquiring an additional 23,677 shares during the last quarter. 54.19% of the stock is currently owned by institutional investors.

Rocket Lab USA Stock Down 0.2 %

Shares of NASDAQ RKLB opened at $4.21 on Monday. Rocket Lab USA, Inc. has a 12 month low of $3.48 and a 12 month high of $8.05. The company has a current ratio of 1.67, a quick ratio of 1.33 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $2.05 billion, a price-to-earnings ratio of -11.69 and a beta of 1.23. The business has a 50-day moving average of $4.48 and a 200-day moving average of $5.32.

Rocket Lab USA (NASDAQ:RKLB) last issued its quarterly earnings data on Wednesday, November 8th. The rocket manufacturer reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.01. Rocket Lab USA had a negative return on equity of 26.98% and a negative net margin of 71.62%. The company had revenue of $67.66 million during the quarter, compared to analyst estimates of $67.56 million. During the same quarter in the previous year, the firm earned ($0.07) earnings per share. Rocket Lab USA’s revenue was up 7.3% on a year-over-year basis. Sell-side analysts expect that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Peter Beck sold 3,600,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 50,951,250 shares in the company, valued at approximately $286,346,025. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Arjun Kampani sold 20,675 shares of the business’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $5.74, for a total value of $118,674.50. Following the completion of the sale, the insider now owns 525,390 shares in the company, valued at approximately $3,015,738.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Peter Beck sold 3,600,000 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $5.62, for a total value 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 3,720,142 shares of company stock worth $20,944,469 in the last quarter. 15.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on RKLB. Citigroup decreased their price objective on Rocket Lab USA from $7.40 to $5.75 in a report on Wednesday, September 20th. Cantor Fitzgerald began coverage on Rocket Lab USA in a report on Thursday, October 26th. They set an “overweight” rating and a $6.00 target price for the company. Wells Fargo & Company reduced their target price on Rocket Lab USA from $6.75 to $5.00 and set an “equal weight” rating for the company in a report on Wednesday, September 20th. Roth Mkm reaffirmed a “buy” rating and set a $10.00 target price on shares of Rocket Lab USA in a report on Wednesday, September 27th. Finally, Stifel Nicolaus reduced their target price on Rocket Lab USA from $11.00 to $10.00 and set a “buy” rating for the company in a report on Wednesday, September 27th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Rocket Lab USA currently has a consensus rating of “Moderate Buy” and an average price target of $7.82.

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.