Mirae Asset Global Investments Co. Ltd. lifted its holdings in Rocket Lab USA, Inc. (NASDAQ:RKLB – Free Report) by 43.3% in the second quarter, HoldingsChannel reports. The firm owned 126,379 shares of the rocket manufacturer’s stock after purchasing an additional 38,177 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Rocket Lab USA were worth $758,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of RKLB. Point72 Hong Kong Ltd purchased a new position in shares of Rocket Lab USA in the second quarter valued at $27,000. Tower Research Capital LLC TRC boosted its stake in Rocket Lab USA by 79.5% during the first quarter. Tower Research Capital LLC TRC now owns 10,014 shares of the rocket manufacturer’s stock worth $40,000 after buying an additional 4,435 shares during the period. Baxter Bros Inc. purchased a new position in Rocket Lab USA during the first quarter worth $40,000. PFG Investments LLC purchased a new position in Rocket Lab USA during the first quarter worth $42,000. Finally, Envestnet Asset Management Inc. purchased a new position in Rocket Lab USA during the fourth quarter worth $44,000. 54.19% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Rocket Lab USA
In related news, CEO Peter Beck sold 3,600,000 shares of Rocket Lab USA stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $5.62, for a total value of $20,232,000.00. Following the completion of the sale, the chief executive officer now directly owns 50,951,250 shares in the company, valued at $286,346,025. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Peter Beck sold 3,600,000 shares of Rocket Lab USA stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $5.62, for a total value of $20,232,000.00. Following the completion of the sale, the chief executive officer now directly owns 50,951,250 shares in the company, valued at $286,346,025. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Arjun Kampani sold 19,443 shares of Rocket Lab USA stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $4.46, for a total value of $86,715.78. Following the completion of the transaction, the general counsel now owns 505,947 shares in the company, valued at approximately $2,256,523.62. The disclosure for this sale can be found here. Insiders sold 3,677,164 shares of company stock worth $20,576,151 over the last three months. 15.00% of the stock is owned by corporate insiders.
Rocket Lab USA Stock Down 2.8 %
NASDAQ:RKLB opened at $4.45 on Wednesday. Rocket Lab USA, Inc. has a twelve month low of $3.48 and a twelve month high of $8.05. The company has a market cap of $2.16 billion, a price-to-earnings ratio of -12.36 and a beta of 1.17. The stock has a fifty day simple moving average of $4.35 and a 200-day simple moving average of $5.34. The company has a current ratio of 1.67, a quick ratio of 1.33 and a debt-to-equity ratio of 0.03.
Rocket Lab USA (NASDAQ:RKLB – Get Free Report) last released its earnings results on Wednesday, November 8th. The rocket manufacturer reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.01. The business had revenue of $67.66 million during the quarter, compared to the consensus estimate of $67.56 million. Rocket Lab USA had a negative return on equity of 26.98% and a negative net margin of 71.62%. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period last year, the company earned ($0.07) earnings per share. Analysts anticipate that Rocket Lab USA, Inc. will post -0.37 EPS for the current year.
Analyst Ratings Changes
Several research firms have commented on RKLB. Stifel Nicolaus dropped their price objective on shares of Rocket Lab USA from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Wednesday, September 27th. Citigroup dropped their price objective on shares of Rocket Lab USA from $7.40 to $5.75 in a research note on Wednesday, September 20th. Cantor Fitzgerald began coverage on shares of Rocket Lab USA in a research note on Thursday, October 26th. They set an “overweight” rating and a $6.00 price objective for the company. Wells Fargo & Company dropped their price objective on shares of Rocket Lab USA from $6.75 to $5.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 20th. Finally, TD Cowen dropped their price objective on shares of Rocket Lab USA from $9.50 to $8.00 and set an “outperform” rating for the company in a research note on Wednesday, September 27th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $7.82.
Read Our Latest Report on RKLB
Rocket Lab USA 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.
See Also
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