67,100 Shares in Rocket Lab USA, Inc. (NASDAQ:RKLB) Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS bought a new stake in Rocket Lab USA, Inc. (NASDAQ:RKLB) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 67,100 shares of the rocket manufacturer’s stock, valued at approximately $1,709,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Spectrum Wealth Counsel LLC purchased a new stake in shares of Rocket Lab USA during the 4th quarter valued at about $25,000. Sandy Spring Bank bought a new stake in Rocket Lab USA during the fourth quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. purchased a new stake in Rocket Lab USA during the fourth quarter valued at approximately $40,000. Smartleaf Asset Management LLC raised its position in Rocket Lab USA by 1,565.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,015 shares of the rocket manufacturer’s stock worth $53,000 after acquiring an additional 1,894 shares during the period. Finally, AlphaQuest LLC purchased a new position in shares of Rocket Lab USA during the 4th quarter worth $52,000. 71.78% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Rocket Lab USA news, insider Frank Klein sold 1,835 shares of Rocket Lab USA stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $19.93, for a total value of $36,571.55. Following the sale, the insider now owns 1,417,644 shares of the company’s stock, valued at $28,253,644.92. The trade was a 0.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 13.70% of the stock is owned by company insiders.

Rocket Lab USA Price Performance

RKLB stock opened at $18.62 on Friday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58. The company’s fifty day moving average price is $23.71 and its 200-day moving average price is $19.56. Rocket Lab USA, Inc. has a one year low of $3.47 and a one year high of $33.34. The company has a market capitalization of $8.45 billion, a PE ratio of -50.32 and a beta of 2.06.

Rocket Lab USA (NASDAQ:RKLB) last announced 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 company had revenue of $132.39 million during the quarter, compared to the consensus estimate of $130.58 million. On average, equities analysts anticipate that Rocket Lab USA, Inc. will post -0.38 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on RKLB. Stifel Nicolaus upped 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. Wells Fargo & Company reduced their price target on Rocket Lab USA from $22.00 to $21.00 and set an “equal weight” rating for the company in a research report on Monday, March 3rd. Morgan Stanley lifted their price objective on Rocket Lab USA from $18.00 to $20.00 and gave the company an “equal weight” rating in a research report on Monday, March 10th. Citigroup reduced their target price on shares of Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating for the company in a report on Friday, February 28th. Finally, The Goldman Sachs Group lifted their price target on shares of Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a report on Thursday, January 16th. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Rocket Lab USA currently has an average rating of “Moderate Buy” and an average price target of $23.06.

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.