American Century Companies Inc. Buys 284,360 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB)

American Century Companies Inc. boosted its stake in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 11.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,856,973 shares of the rocket manufacturer’s stock after purchasing an additional 284,360 shares during the quarter. American Century Companies Inc.’s holdings in Rocket Lab USA were worth $13,713,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Wellington Shields & Co. LLC grew its stake in Rocket Lab USA by 3.8% during the 2nd quarter. Wellington Shields & Co. LLC now owns 69,142 shares of the rocket manufacturer’s stock worth $332,000 after buying an additional 2,503 shares during the last quarter. 180 Wealth Advisors LLC lifted its stake in shares of Rocket Lab USA by 7.5% during the second quarter. 180 Wealth Advisors LLC now owns 40,180 shares of the rocket manufacturer’s stock worth $214,000 after buying an additional 2,807 shares during the period. Verus Capital Partners LLC grew its holdings in shares of Rocket Lab USA by 11.9% during the second quarter. Verus Capital Partners LLC now owns 33,160 shares of the rocket manufacturer’s stock valued at $159,000 after buying an additional 3,525 shares during the last quarter. Advisors Asset Management Inc. lifted its position in Rocket Lab USA by 59.4% during the 1st quarter. Advisors Asset Management Inc. now owns 10,816 shares of the rocket manufacturer’s stock worth $44,000 after acquiring an additional 4,032 shares during the period. Finally, ProShare Advisors LLC grew its stake in Rocket Lab USA by 10.2% during the 1st quarter. ProShare Advisors LLC now owns 50,879 shares of the rocket manufacturer’s stock valued at $209,000 after purchasing an additional 4,713 shares during the last quarter. 71.78% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on RKLB shares. Roth Mkm reiterated a “buy” rating and issued a $7.00 price target on shares of Rocket Lab USA in a report on Tuesday, June 18th. The Goldman Sachs Group began coverage on Rocket Lab USA in a report on Tuesday, June 11th. They issued a “neutral” rating and a $4.50 price objective for the company. BTIG Research assumed coverage on shares of Rocket Lab USA in a report on Wednesday, June 26th. They set a “neutral” rating on the stock. Morgan Stanley downgraded Rocket Lab USA from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $8.00 to $6.00 in a research report on Monday, July 15th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $7.00 price objective on shares of Rocket Lab USA in a report on Monday, September 9th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $6.86.

Insider Transactions at Rocket Lab USA

In other news, CFO Adam C. Spice sold 62,512 shares of Rocket Lab USA stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total value of $435,083.52. Following the completion of the sale, the chief financial officer now directly owns 1,321,165 shares of the company’s stock, valued at $9,195,308.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other 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 transaction of $272,177.40. Following the completion of the transaction, the director now directly owns 42,353 shares of the company’s stock, valued at $292,235.70. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Adam C. Spice sold 62,512 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 $435,083.52. Following the transaction, the chief financial officer now owns 1,321,165 shares of the company’s stock, valued at approximately $9,195,308.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 130,521 shares of company stock worth $906,059. 13.70% of the stock is currently owned by company insiders.

Rocket Lab USA Trading Up 4.2 %

Shares of Rocket Lab USA stock opened at $7.47 on Friday. 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 stock’s 50 day simple moving average is $5.96 and its 200-day simple moving average is $4.86. The stock has a market cap of $3.68 billion, a P/E ratio of -20.19 and a beta of 1.27. Rocket Lab USA, Inc. has a 1-year low of $3.47 and a 1-year high of $7.72.

Rocket Lab USA (NASDAQ:RKLB) last announced its quarterly earnings results on Thursday, August 8th. The rocket manufacturer reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.02. Rocket Lab USA had a negative net margin of 54.17% and a negative return on equity of 34.12%. The firm had revenue of $106.25 million for the quarter, compared to analysts’ expectations of $105.47 million. During the same quarter in the previous year, the company posted ($0.10) EPS. The company’s revenue was up 71.2% compared to the same quarter last year. Analysts predict that Rocket Lab USA, Inc. will post -0.4 EPS for the current fiscal year.

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.