Mitsubishi UFJ Asset Management Co. Ltd. Has $4.53 Million Stock Position in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Mitsubishi UFJ Asset Management Co. Ltd. reduced its stake in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 55.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 177,679 shares of the rocket manufacturer’s stock after selling 224,556 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Rocket Lab USA were worth $4,525,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Chicago Partners Investment Group LLC boosted its position in shares of Rocket Lab USA by 0.4% in the fourth quarter. Chicago Partners Investment Group LLC now owns 79,943 shares of the rocket manufacturer’s stock valued at $2,187,000 after acquiring an additional 334 shares during the period. Wellington Shields & Co. LLC boosted its holdings in Rocket Lab USA by 0.5% in the 4th quarter. Wellington Shields & Co. LLC now owns 74,522 shares of the rocket manufacturer’s stock valued at $1,898,000 after purchasing an additional 383 shares during the period. Signaturefd LLC grew its position in shares of Rocket Lab USA by 12.2% during the 4th quarter. Signaturefd LLC now owns 6,014 shares of the rocket manufacturer’s stock worth $153,000 after purchasing an additional 653 shares in the last quarter. CIBC Asset Management Inc increased its holdings in shares of Rocket Lab USA by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 15,078 shares of the rocket manufacturer’s stock worth $384,000 after purchasing an additional 746 shares during the period. Finally, IFP Advisors Inc raised its position in shares of Rocket Lab USA by 12.3% in the fourth quarter. IFP Advisors Inc now owns 6,885 shares of the rocket manufacturer’s stock valued at $175,000 after buying an additional 753 shares in the last quarter. 71.78% of the stock is owned by institutional investors.

Insider Buying and Selling at Rocket Lab USA

In related news, insider Frank Klein sold 44,553 shares of the business’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $18.18, for a total value of $809,973.54. Following the sale, the insider now owns 1,419,479 shares of the company’s stock, valued at $25,806,128.22. The trade was a 3.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 13.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on RKLB shares. Citigroup lowered their price objective on Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Wells Fargo & Company cut their price objective on shares of Rocket Lab USA from $22.00 to $21.00 and set an “equal weight” rating for the company in a research report on Monday, March 3rd. Stifel Nicolaus raised their target price on shares of Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. TD Cowen raised shares of Rocket Lab USA to a “strong-buy” rating in a report on Monday, February 24th. Finally, Morgan Stanley lifted their price objective on shares of 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. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Rocket Lab USA presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.06.

Rocket Lab USA Trading Up 1.5 %

NASDAQ RKLB opened at $18.15 on Wednesday. The company has a market cap of $8.23 billion, a price-to-earnings ratio of -49.05 and a beta of 2.06. Rocket Lab USA, Inc. has a twelve month low of $3.47 and a twelve month high of $33.34. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. The business’s fifty day moving average is $23.33 and its 200 day moving average is $19.89.

Rocket Lab USA (NASDAQ:RKLB) last released its quarterly earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The firm 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%. As a group, sell-side analysts expect that Rocket Lab USA, Inc. will post -0.38 EPS for the current fiscal year.

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.