DnB Asset Management AS Cuts Stock Holdings in Rocket Lab USA, Inc. (NASDAQ:RKLB)

DnB Asset Management AS cut its stake in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 92.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,214 shares of the rocket manufacturer’s stock after selling 146,095 shares during the period. DnB Asset Management AS’s holdings in Rocket Lab USA were worth $311,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Spectrum Wealth Counsel LLC purchased a new position in shares of Rocket Lab USA in the 4th quarter valued at about $25,000. Sandy Spring Bank purchased a new position in Rocket Lab USA in the fourth quarter worth approximately $26,000. Wingate Wealth Advisors Inc. acquired a new position in Rocket Lab USA during the 4th quarter worth approximately $40,000. New Millennium Group LLC increased its position in shares of Rocket Lab USA by 105.0% in the 4th quarter. New Millennium Group LLC now owns 2,050 shares of the rocket manufacturer’s stock valued at $52,000 after purchasing an additional 1,050 shares during the last quarter. Finally, AlphaQuest LLC acquired a new stake in shares of Rocket Lab USA in the 4th quarter valued at $52,000. 71.78% of the stock is owned by institutional investors and hedge funds.

Rocket Lab USA Trading Up 6.6 %

NASDAQ RKLB opened at $19.34 on Thursday. The firm’s fifty day moving average is $23.12 and its two-hundred day moving average is $19.89. Rocket Lab USA, Inc. has a one year low of $3.47 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 firm has a market cap of $8.77 billion, a PE ratio of -52.27 and a beta of 2.06.

Rocket Lab USA (NASDAQ:RKLB) last posted its quarterly earnings data on Thursday, February 27th. The rocket manufacturer reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.01). Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. The company had revenue of $132.39 million for the quarter, compared to analysts’ expectations of $130.58 million. Analysts expect that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Stifel Nicolaus increased their target price on Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Morgan Stanley raised their target price on Rocket Lab USA from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Monday, March 10th. KeyCorp lowered their price target on Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating for the company in a report on Friday, February 28th. TD Cowen raised shares of Rocket Lab USA to a “strong-buy” rating in a report on Monday, February 24th. Finally, Wells Fargo & Company lowered their target price on shares of Rocket Lab USA from $22.00 to $21.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $23.06.

Insider Buying and Selling

In related news, insider Frank Klein sold 1,835 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $19.93, for a total transaction of $36,571.55. Following the completion of the transaction, the insider now directly owns 1,417,644 shares of the company’s stock, valued at $28,253,644.92. This represents a 0.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 13.70% of the company’s stock.

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.