Principal Financial Group Inc. Buys 5,838 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB)

Principal Financial Group Inc. increased its stake in shares of Rocket Lab USA, Inc. (NASDAQ:RKLBFree Report) by 18.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 38,074 shares of the rocket manufacturer’s stock after buying an additional 5,838 shares during the period. Principal Financial Group Inc.’s holdings in Rocket Lab USA were worth $156,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Raymond James & Associates boosted its holdings in shares of Rocket Lab USA by 10.3% during the 4th quarter. Raymond James & Associates now owns 21,825 shares of the rocket manufacturer’s stock worth $121,000 after buying an additional 2,040 shares during the period. Cerity Partners LLC boosted its holdings in Rocket Lab USA by 14.5% in the 4th quarter. Cerity Partners LLC now owns 17,630 shares of the rocket manufacturer’s stock valued at $97,000 after purchasing an additional 2,230 shares during the period. New York State Common Retirement Fund boosted its holdings in Rocket Lab USA by 2.5% in the 4th quarter. New York State Common Retirement Fund now owns 114,781 shares of the rocket manufacturer’s stock valued at $635,000 after purchasing an additional 2,845 shares during the period. Avitas Wealth Management LLC boosted its holdings in Rocket Lab USA by 2.5% in the 4th quarter. Avitas Wealth Management LLC now owns 121,332 shares of the rocket manufacturer’s stock valued at $671,000 after purchasing an additional 2,913 shares during the period. Finally, Atria Wealth Solutions Inc. boosted its holdings in Rocket Lab USA by 9.8% in the 4th quarter. Atria Wealth Solutions Inc. now owns 50,400 shares of the rocket manufacturer’s stock valued at $279,000 after purchasing an additional 4,500 shares during the period. Institutional investors own 71.78% of the company’s stock.

Rocket Lab USA Price Performance

RKLB stock opened at $4.97 on Tuesday. The company has a 50 day simple moving average of $4.41 and a 200 day simple moving average of $4.47. Rocket Lab USA, Inc. has a 1 year low of $3.47 and a 1 year high of $8.05. The company has a current ratio of 3.12, a quick ratio of 2.69 and a debt-to-equity ratio of 0.86.

Rocket Lab USA (NASDAQ:RKLBGet Free Report) last released its quarterly earnings data on Monday, May 6th. The rocket manufacturer reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.02. The business had revenue of $92.80 million during the quarter, compared to analysts’ expectations of $94.98 million. Rocket Lab USA had a negative net margin of 64.15% and a negative return on equity of 32.50%. The firm’s quarterly revenue was up 69.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.10) EPS. On average, analysts anticipate that Rocket Lab USA, Inc. will post -0.41 EPS for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel Arjun Kampani sold 29,026 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $4.22, for a total transaction of $122,489.72. Following the completion of the transaction, the general counsel now directly owns 666,121 shares in the company, valued at approximately $2,811,030.62. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Rocket Lab USA news, CFO Adam C. Spice sold 63,529 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $4.22, for a total value of $268,092.38. Following the completion of the transaction, the chief financial officer now directly owns 1,383,677 shares in the company, valued at approximately $5,839,116.94. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, General Counsel Arjun Kampani sold 29,026 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $4.22, for a total transaction of $122,489.72. Following the completion of the transaction, the general counsel now owns 666,121 shares of the company’s stock, valued at $2,811,030.62. The disclosure for this sale can be found here. 13.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have issued reports on RKLB. The Goldman Sachs Group began coverage on shares of Rocket Lab USA in a report on Tuesday, June 11th. They issued a “neutral” rating and a $4.50 price objective for the company. Roth Mkm reissued a “buy” rating and issued a $7.00 price objective on shares of Rocket Lab USA in a report on Tuesday, June 18th. BTIG Research started coverage on shares of Rocket Lab USA in a report on Wednesday, June 26th. They issued a “neutral” rating for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $6.00 price target on shares of Rocket Lab USA in a report on Monday, July 1st. Finally, Citigroup cut their price target on shares of Rocket Lab USA from $6.00 to $5.45 and set a “buy” rating for the company in a report on Tuesday, May 7th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Rocket Lab USA has an average rating of “Moderate Buy” and an average price target of $6.65.

Read Our Latest Report on RKLB

About Rocket Lab USA

(Free Report)

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.

See Also

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

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