Creative Planning Buys 23,504 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB)

Creative Planning boosted its stake in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 39.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 83,547 shares of the rocket manufacturer’s stock after acquiring an additional 23,504 shares during the period. Creative Planning’s holdings in Rocket Lab USA were worth $813,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in RKLB. Vanguard Group Inc. increased its stake in shares of Rocket Lab USA by 9.2% in the 1st quarter. Vanguard Group Inc. now owns 29,000,578 shares of the rocket manufacturer’s stock valued at $119,192,000 after purchasing an additional 2,448,789 shares during the last quarter. ARK Investment Management LLC increased its stake in shares of Rocket Lab USA by 6.6% in the 2nd quarter. ARK Investment Management LLC now owns 6,297,073 shares of the rocket manufacturer’s stock valued at $30,226,000 after purchasing an additional 391,778 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Rocket Lab USA by 11.1% in the 2nd quarter. American Century Companies Inc. now owns 2,856,973 shares of the rocket manufacturer’s stock valued at $13,713,000 after purchasing an additional 284,360 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Rocket Lab USA by 25.6% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,123,591 shares of the rocket manufacturer’s stock valued at $10,193,000 after purchasing an additional 432,501 shares during the last quarter. Finally, Nikko Asset Management Americas Inc. increased its stake in shares of Rocket Lab USA by 15.7% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 1,691,090 shares of the rocket manufacturer’s stock valued at $6,917,000 after purchasing an additional 229,512 shares during the last quarter. Institutional investors own 71.78% of the company’s stock.

Rocket Lab USA Stock Up 6.7 %

Shares of NASDAQ:RKLB opened at $11.42 on Friday. The company has a market capitalization of $5.67 billion, a price-to-earnings ratio of -32.63 and a beta of 1.29. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.82 and a quick ratio of 2.43. The business’s 50-day moving average is $8.66 and its 200-day moving average is $6.12. Rocket Lab USA, Inc. has a 1 year low of $3.47 and a 1 year high of $12.09.

Rocket Lab USA (NASDAQ:RKLB) last issued its earnings results on Thursday, August 8th. The rocket manufacturer reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.02. Rocket Lab USA had a negative return on equity of 34.12% and a negative net margin of 54.17%. The business had revenue of $106.25 million during the quarter, compared to analyst estimates of $105.47 million. During the same period in the previous year, the company posted ($0.10) EPS. The firm’s revenue was up 71.2% compared to the same quarter last year. Equities research analysts predict that Rocket Lab USA, Inc. will post -0.39 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on RKLB shares. The Goldman Sachs Group lifted their price target on Rocket Lab USA from $4.50 to $5.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. KeyCorp boosted their price objective on Rocket Lab USA from $11.00 to $12.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. JMP Securities began coverage on Rocket Lab USA in a research report on Thursday, September 12th. They set a “market perform” rating on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $7.00 price objective on shares of Rocket Lab USA in a research report on Monday, September 30th. Finally, Morgan Stanley lowered Rocket Lab USA from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $8.00 to $6.00 in a research report on Monday, July 15th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Rocket Lab USA currently has a consensus rating of “Hold” and an average target price of $6.89.

Insider Activity at Rocket Lab USA

In related news, Director Michael D. Griffin sold 39,446 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $6.90, for a total value of $272,177.40. Following the completion of the sale, the director now directly owns 42,353 shares of the company’s stock, valued at $292,235.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Rocket Lab USA news, General Counsel Arjun Kampani sold 28,563 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total transaction of $198,798.48. Following the completion of the sale, the general counsel now directly owns 637,558 shares of the company’s stock, valued at approximately $4,437,403.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael D. Griffin sold 39,446 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $6.90, for a total value of $272,177.40. Following the sale, the director now directly owns 42,353 shares of the company’s stock, valued at $292,235.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 130,521 shares of company stock valued at $906,059 in the last three months. Corporate insiders own 13.70% of the company’s stock.

Rocket Lab USA 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.