28,695 Shares in Rocket Lab USA, Inc. (NASDAQ:RKLB) Acquired by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale bought a new stake in Rocket Lab USA, Inc. (NASDAQ:RKLB) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 28,695 shares of the rocket manufacturer’s stock, valued at approximately $140,000.

Several other hedge funds also recently bought and sold shares of RKLB. Vanguard Group Inc. increased its stake in Rocket Lab USA by 9.2% during the 1st quarter. Vanguard Group Inc. now owns 29,000,578 shares of the rocket manufacturer’s stock worth $119,192,000 after purchasing 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 buying an additional 879,160 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Rocket Lab USA by 25.6% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,123,591 shares of the rocket manufacturer’s stock worth $10,193,000 after acquiring an additional 432,501 shares during the last quarter. ARK Investment Management LLC grew its stake in shares of Rocket Lab USA by 6.6% during the 2nd quarter. ARK Investment Management LLC now owns 6,297,073 shares of the rocket manufacturer’s stock worth $30,226,000 after acquiring an additional 391,778 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Rocket Lab USA by 11.1% in the second quarter. American Century Companies Inc. now owns 2,856,973 shares of the rocket manufacturer’s stock valued at $13,713,000 after purchasing an additional 284,360 shares during the last quarter. 71.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RKLB has been the subject of several recent research reports. BTIG Research started coverage on shares of Rocket Lab USA in a report on Wednesday, June 26th. They set a “neutral” rating for the company. Citigroup increased their price objective on shares of Rocket Lab USA from $5.45 to $7.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. JMP Securities began coverage on Rocket Lab USA in a research report on Thursday, September 12th. They issued a “market perform” rating on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $7.00 price target on shares of Rocket Lab USA in a research report on Monday, September 9th. Finally, The Goldman Sachs Group began coverage on Rocket Lab USA in a research report on Tuesday, June 11th. They set a “neutral” rating and a $4.50 price target on the stock. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Rocket Lab USA presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.86.

Insider Buying and Selling

In other Rocket Lab USA news, Director Michael D. Griffin sold 39,446 shares of the company’s stock in a transaction 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 sale was disclosed in a legal filing with the SEC, which is accessible through 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 shares were sold at an average price of $6.90, for a total value of $272,177.40. Following the completion of the sale, the director now owns 42,353 shares of the company’s stock, valued at $292,235.70. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Adam C. Spice sold 62,512 shares of the firm’s stock in a transaction dated 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 directly owns 1,321,165 shares in the company, valued at $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 valued at $906,059. Insiders own 13.70% of the company’s stock.

Rocket Lab USA Stock Up 4.2 %

RKLB stock opened at $7.47 on Friday. The firm has a market capitalization of $3.68 billion, a PE ratio of -20.19 and a beta of 1.27. The business’s 50 day simple moving average is $5.96 and its 200 day simple moving average is $4.86. Rocket Lab USA, Inc. has a 1-year low of $3.47 and a 1-year high of $7.72. The company has a current ratio of 2.82, a quick ratio of 2.43 and a debt-to-equity ratio of 0.90.

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, 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 period in the prior year, the firm earned ($0.10) EPS. The business’s revenue was up 71.2% on a year-over-year basis. As a group, research analysts anticipate that Rocket Lab USA, Inc. will post -0.4 EPS for the current year.

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.