BI Asset Management Fondsmaeglerselskab A S Acquires New Position in Rocket Lab USA, Inc. (NASDAQ:RKLB)

BI Asset Management Fondsmaeglerselskab A S bought a new stake in Rocket Lab USA, Inc. (NASDAQ:RKLB) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 93,791 shares of the rocket manufacturer’s stock, valued at approximately $2,389,000.

Several other institutional investors also recently made changes to their positions in the stock. FMR LLC grew its position in Rocket Lab USA by 30,853.3% in the 4th quarter. FMR LLC now owns 3,696,136 shares of the rocket manufacturer’s stock worth $94,141,000 after purchasing an additional 3,684,195 shares during the last quarter. Renaissance Technologies LLC increased its position in Rocket Lab USA by 1,765.4% in the 4th quarter. Renaissance Technologies LLC now owns 1,818,800 shares of the rocket manufacturer’s stock valued at $46,325,000 after acquiring an additional 1,721,300 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Rocket Lab USA during the 4th quarter valued at $21,896,000. Invesco Ltd. grew its stake in shares of Rocket Lab USA by 41.1% in the fourth quarter. Invesco Ltd. now owns 2,394,732 shares of the rocket manufacturer’s stock worth $60,994,000 after purchasing an additional 697,574 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new position in shares of Rocket Lab USA during the fourth quarter valued at $17,261,000. 71.78% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Frank Klein sold 1,835 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $19.93, for a total value of $36,571.55. Following the transaction, the insider now owns 1,417,644 shares in the company, valued at $28,253,644.92. This represents a 0.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 13.70% of the company’s stock.

Rocket Lab USA Price Performance

NASDAQ RKLB opened at $18.65 on Tuesday. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97. Rocket Lab USA, Inc. has a 1 year low of $3.49 and a 1 year high of $33.34. The company has a market cap of $8.46 billion, a PE ratio of -50.40 and a beta of 2.08. The stock’s 50-day moving average price is $20.14 and its two-hundred day moving average price is $21.00.

Rocket Lab USA (NASDAQ:RKLB) last released its quarterly earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. The firm had revenue of $132.39 million for the quarter, compared to analyst estimates of $130.58 million. On average, analysts predict that Rocket Lab USA, Inc. will post -0.38 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on RKLB. TD Cowen upgraded shares of Rocket Lab USA to a “strong-buy” rating in a research report on Monday, February 24th. KeyCorp lowered their price objective on shares of Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Citigroup cut their target price on Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Stifel Nicolaus boosted their price objective on Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Finally, Morgan Stanley raised their target price on Rocket Lab USA from $18.00 to $20.00 and gave the company an “equal weight” rating in a research note on Monday, March 10th. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.72.

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.