Headlands Technologies LLC Has $327,000 Stake in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Headlands Technologies LLC raised its holdings in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 9,674.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 68,129 shares of the rocket manufacturer’s stock after buying an additional 67,432 shares during the quarter. Headlands Technologies LLC’s holdings in Rocket Lab USA were worth $327,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in 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 buying an additional 2,448,789 shares in the last quarter. Tocqueville Asset Management L.P. raised its position in Rocket Lab USA by 217.1% in the 1st quarter. Tocqueville Asset Management L.P. now owns 1,284,060 shares of the rocket manufacturer’s stock valued at $5,277,000 after purchasing an additional 879,160 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in 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. ARK Investment Management LLC raised its position in 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. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Rocket Lab USA by 153.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 380,965 shares of the rocket manufacturer’s stock worth $1,567,000 after acquiring an additional 230,931 shares during the last quarter. Institutional investors and hedge funds own 71.78% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on RKLB shares. BTIG Research started coverage on Rocket Lab USA in a research report on Wednesday, June 26th. They set a “neutral” rating for the company. JMP Securities started coverage on Rocket Lab USA in a research report on Thursday. They set a “market perform” rating for the company. The Goldman Sachs Group started coverage on Rocket Lab USA in a research report on Tuesday, June 11th. They set a “neutral” rating and a $4.50 target price for the company. Morgan Stanley downgraded Rocket Lab USA from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $8.00 to $6.00 in a research report on Monday, July 15th. Finally, Citigroup boosted their target price on Rocket Lab USA from $5.45 to $7.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $6.86.

Rocket Lab USA Trading Up 8.7 %

NASDAQ RKLB opened at $7.46 on Friday. Rocket Lab USA, Inc. has a 52 week low of $3.47 and a 52 week high of $7.47. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.43 and a current ratio of 2.82. The stock’s 50 day moving average price is $5.76 and its two-hundred day moving average price is $4.76. The stock has a market capitalization of $3.70 billion, a price-to-earnings ratio of -20.16 and a beta of 1.27.

Rocket Lab USA (NASDAQ:RKLB) last released its quarterly earnings results on Thursday, August 8th. The rocket manufacturer reported ($0.08) earnings per share for the quarter, topping 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 firm had revenue of $106.25 million during the quarter, compared to the consensus estimate of $105.47 million. During the same quarter in the prior year, the firm posted ($0.10) EPS. The business’s revenue was up 71.2% on a year-over-year basis. As a group, analysts anticipate that Rocket Lab USA, Inc. will post -0.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Rocket Lab USA news, General Counsel Arjun Kampani sold 28,563 shares of the company’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 transaction, the general counsel now owns 637,558 shares of the company’s stock, valued at approximately $4,437,403.68. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Rocket Lab USA news, General Counsel Arjun Kampani sold 28,563 shares of the company’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 transaction, the general counsel now owns 637,558 shares of the company’s stock, valued at approximately $4,437,403.68. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Michael D. Griffin sold 39,446 shares of the company’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 transaction, the director now directly owns 42,353 shares of the company’s stock, valued at approximately $292,235.70. The disclosure for this sale can be found here. Insiders sold a total of 130,521 shares of company stock valued at $906,059 in the last quarter. 13.70% of the stock is currently owned by insiders.

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.