BI Asset Management Fondsmaeglerselskab A S Acquires Shares of 93,791 Rocket Lab USA, Inc. (NASDAQ:RKLB)

BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 93,791 shares of the rocket manufacturer's stock, valued at approximately $2,389,000.

Several other hedge funds also recently made changes to their positions in the business. Franklin Resources Inc. acquired a new position in shares of Rocket Lab USA during the 3rd quarter worth approximately $107,000. Udine Wealth Management Inc. bought a new position in shares of Rocket Lab USA in the fourth quarter valued at $1,342,000. Van ECK Associates Corp increased its holdings in Rocket Lab USA by 26.9% during the fourth quarter. Van ECK Associates Corp now owns 166,369 shares of the rocket manufacturer's stock worth $4,237,000 after buying an additional 35,293 shares during the last quarter. AlphaCentric Advisors LLC raised its position in Rocket Lab USA by 66.7% during the fourth quarter. AlphaCentric Advisors LLC now owns 25,000 shares of the rocket manufacturer's stock worth $637,000 after acquiring an additional 10,000 shares in the last quarter. Finally, Stratos Wealth Partners LTD. acquired a new stake in Rocket Lab USA in the fourth quarter valued at $1,281,000. 71.78% of the stock is owned by institutional investors.

Rocket Lab USA Stock Performance

NASDAQ:RKLB traded up $0.55 during mid-day trading on Friday, reaching $22.43. 10,010,018 shares of the company's stock were exchanged, compared to its average volume of 15,410,942. Rocket Lab USA, Inc. has a one year low of $3.56 and a one year high of $33.34. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58. The business's fifty day simple moving average is $19.68 and its two-hundred day simple moving average is $21.06. The firm has a market capitalization of $10.17 billion, a PE ratio of -60.61 and a beta of 2.08.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last announced its earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The business had revenue of $132.39 million for the quarter, compared to the consensus estimate of $130.58 million. Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. Analysts anticipate that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current fiscal year.

Insider Buying and Selling at Rocket Lab USA

In related news, insider Frank Klein sold 1,835 shares of the firm's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $19.93, for a total value of $36,571.55. Following the transaction, the insider now owns 1,417,644 shares in the company, valued at approximately $28,253,644.92. This trade represents a 0.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 13.70% of the company's stock.

Analyst Ratings Changes

RKLB has been the topic of several recent analyst reports. Stifel Nicolaus boosted their price objective on shares of Rocket Lab USA from $26.00 to $31.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. Citigroup cut their price objective on Rocket Lab USA from $35.00 to $33.00 and set a "buy" rating for the company in a research report on Friday, February 28th. The Goldman Sachs Group lifted their target price on Rocket Lab USA from $12.00 to $13.50 and gave the stock a "neutral" rating in a research note on Thursday, January 16th. Morgan Stanley increased their price target on Rocket Lab USA from $18.00 to $20.00 and gave the company an "equal weight" rating in a research note on Monday, March 10th. Finally, Wells Fargo & Company reduced their price objective on shares of Rocket Lab USA from $21.00 to $18.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $23.25.

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.