Principal Financial Group Inc. Has $226,000 Stake in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Principal Financial Group Inc. boosted its holdings in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 23.4% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 47,002 shares of the rocket manufacturer’s stock after buying an additional 8,928 shares during the period. Principal Financial Group Inc.’s holdings in Rocket Lab USA were worth $226,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Rocket Lab USA by 9.2% during the first quarter. Vanguard Group Inc. now owns 29,000,578 shares of the rocket manufacturer’s stock valued at $119,192,000 after acquiring an additional 2,448,789 shares during the period. Hennion & Walsh Asset Management Inc. boosted its holdings in Rocket Lab USA by 40.9% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 91,619 shares of the rocket manufacturer’s stock valued at $440,000 after acquiring an additional 26,605 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Rocket Lab USA by 2.3% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 294,054 shares of the rocket manufacturer’s stock valued at $1,209,000 after acquiring an additional 6,534 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Rocket Lab USA by 15.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,691,090 shares of the rocket manufacturer’s stock valued at $6,950,000 after acquiring an additional 229,512 shares during the period. Finally, Foundations Investment Advisors LLC bought a new stake in Rocket Lab USA during the fourth quarter valued at about $116,000. 71.78% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. BTIG Research assumed coverage on shares of Rocket Lab USA in a report on Wednesday, June 26th. They set a “neutral” rating for the company. Roth Mkm restated a “buy” rating and set a $7.00 price target on shares of Rocket Lab USA in a report on Tuesday, June 18th. Cantor Fitzgerald restated an “overweight” rating and set a $7.00 price target on shares of Rocket Lab USA in a report on Monday, September 9th. Morgan Stanley cut shares of Rocket Lab USA from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $8.00 to $6.00 in a research note on Monday, July 15th. Finally, JMP Securities initiated coverage on shares of Rocket Lab USA in a research note on Thursday. They issued a “market perform” rating for the company. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Rocket Lab USA currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.86.

Rocket Lab USA Stock Up 8.7 %

NASDAQ RKLB opened at $7.46 on Monday. The stock has a market cap of $3.68 billion, a PE ratio of -20.16 and a beta of 1.27. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.43 and a current ratio of 2.82. Rocket Lab USA, Inc. has a twelve month low of $3.47 and a twelve month high of $7.47. The firm has a 50-day simple moving average of $5.76 and a 200 day simple moving average of $4.76.

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

Insiders Place Their Bets

In other Rocket Lab USA news, CFO Adam C. Spice sold 62,512 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total transaction of $435,083.52. Following the completion of the transaction, the chief financial officer now owns 1,321,165 shares in the company, valued at $9,195,308.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Rocket Lab USA news, CFO Adam C. Spice sold 62,512 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total transaction of $435,083.52. Following the completion of the transaction, the chief financial officer now owns 1,321,165 shares in the company, valued at $9,195,308.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Arjun Kampani sold 28,563 shares of the firm’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 sale, the general counsel now directly owns 637,558 shares of the company’s stock, valued at approximately $4,437,403.68. The disclosure for this sale can be found here. Insiders sold a total of 130,521 shares of company stock worth $906,059 over the last quarter. Company insiders own 13.70% of the company’s stock.

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.