Rocket Lab USA, Inc. (NASDAQ:RKLB) Shares Purchased by Handelsbanken Fonder AB

Handelsbanken Fonder AB grew its stake in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 61.9% during the fourth quarter, HoldingsChannel reports. The firm owned 48,400 shares of the rocket manufacturer’s stock after buying an additional 18,500 shares during the period. Handelsbanken Fonder AB’s holdings in Rocket Lab USA were worth $268,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of RKLB. Vanguard Group Inc. lifted its position in Rocket Lab USA by 4.7% during the 3rd quarter. Vanguard Group Inc. now owns 26,100,419 shares of the rocket manufacturer’s stock worth $114,320,000 after acquiring an additional 1,167,403 shares in the last quarter. Graham Capital Management L.P. purchased a new position in shares of Rocket Lab USA in the third quarter valued at $221,000. American Century Companies Inc. grew its holdings in Rocket Lab USA by 12.0% during the 3rd quarter. American Century Companies Inc. now owns 3,701,611 shares of the rocket manufacturer’s stock valued at $16,213,000 after purchasing an additional 396,501 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in Rocket Lab USA by 13.3% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 256,088 shares of the rocket manufacturer’s stock valued at $1,122,000 after purchasing an additional 29,990 shares in the last quarter. Finally, Rafferty Asset Management LLC increased its stake in Rocket Lab USA by 25.9% during the 3rd quarter. Rafferty Asset Management LLC now owns 83,514 shares of the rocket manufacturer’s stock worth $366,000 after buying an additional 17,181 shares during the period. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Rocket Lab USA Stock Up 2.6 %

Shares of Rocket Lab USA stock opened at $3.95 on Friday. The company has a quick ratio of 1.65, a current ratio of 2.13 and a debt-to-equity ratio of 0.19. The business has a 50-day moving average price of $4.03 and a 200 day moving average price of $4.45. Rocket Lab USA, Inc. has a fifty-two week low of $3.47 and a fifty-two week high of $8.05. The firm has a market cap of $1.93 billion, a P/E ratio of -10.39 and a beta of 1.18.

Rocket Lab USA (NASDAQ:RKLB) last posted its quarterly earnings results on Tuesday, 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 firm had revenue of $59.99 million for the quarter, compared to analyst estimates of $62.90 million. Rocket Lab USA had a negative net margin of 74.64% and a negative return on equity of 30.54%. The business’s revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the company posted ($0.08) earnings per share. On average, sell-side analysts forecast that Rocket Lab USA, Inc. will post -0.42 earnings per share for the current fiscal year.

Insider Transactions at Rocket Lab USA

In related news, CFO Adam C. Spice sold 67,160 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $4.25, for a total transaction of $285,430.00. Following the sale, the chief financial officer now owns 1,442,206 shares in the company, valued at $6,129,375.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CFO Adam C. Spice sold 67,160 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $4.25, for a total transaction of $285,430.00. Following the sale, the chief financial officer now directly owns 1,442,206 shares in the company, valued at approximately $6,129,375.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Arjun Kampani sold 31,394 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $4.25, for a total value of $133,424.50. Following the completion of the sale, the general counsel now directly owns 695,147 shares in the company, valued at approximately $2,954,374.75. The disclosure for this sale can be found here. Insiders own 15.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on RKLB. KeyCorp initiated coverage on shares of Rocket Lab USA in a research report on Wednesday, January 17th. They issued an “overweight” rating and a $8.00 price objective for the company. Citigroup restated a “buy” rating and set a $6.00 price objective on shares of Rocket Lab USA in a research note on Monday, February 12th. Finally, Wells Fargo & Company cut their target price on Rocket Lab USA from $5.00 to $4.25 and set an “equal weight” rating on the stock in a research report on Thursday, April 4th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $7.46.

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.