DekaBank Deutsche Girozentrale Invests $140,000 in Rocket Lab USA, Inc. (NASDAQ:RKLB)

DekaBank Deutsche Girozentrale bought a new stake in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 28,695 shares of the rocket manufacturer’s stock, valued at approximately $140,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of 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 buying an additional 2,448,789 shares during the last quarter. ARK Investment Management LLC raised its holdings 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 acquiring an additional 391,778 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Rocket Lab USA by 11.1% in the 2nd quarter. American Century Companies Inc. now owns 2,856,973 shares of the rocket manufacturer’s stock worth $13,713,000 after acquiring an additional 284,360 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of 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 purchasing an additional 432,501 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Rocket Lab USA by 1.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,081,839 shares of the rocket manufacturer’s stock valued at $11,513,000 after purchasing an additional 24,232 shares during the period. Institutional investors and hedge funds own 71.78% of the company’s stock.

Wall Street Analyst Weigh In

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

Rocket Lab USA Trading Up 4.2 %

Shares of RKLB opened at $7.47 on Friday. The stock has a fifty day moving average price of $5.96 and a two-hundred day moving average price of $4.86. 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 company has a market cap of $3.68 billion, a price-to-earnings ratio of -20.19 and a beta of 1.27. Rocket Lab USA, Inc. has a 52-week low of $3.47 and a 52-week high of $7.72.

Rocket Lab USA (NASDAQ:RKLB) last issued its quarterly earnings results on Thursday, August 8th. The rocket manufacturer reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.02. The business had revenue of $106.25 million for the quarter, compared to the consensus estimate 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 firm’s quarterly revenue was up 71.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.10) EPS. Analysts predict that Rocket Lab USA, Inc. will post -0.4 EPS for the current fiscal year.

Insider Activity

In related news, Director Michael D. Griffin sold 39,446 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now owns 42,353 shares in the company, valued at approximately $292,235.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Michael D. Griffin sold 39,446 shares of Rocket Lab USA stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $6.90, for a total transaction of $272,177.40. Following the completion of the sale, the director now owns 42,353 shares in the company, valued at approximately $292,235.70. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Adam C. Spice sold 62,512 shares of the stock in a transaction that occurred on 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 disclosure for this sale can be found here. Insiders have sold 130,521 shares of company stock valued at $906,059 over the last three months. 13.70% of the stock is 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.