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

DnB Asset Management AS lessened its position in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 92.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,214 shares of the rocket manufacturer’s stock after selling 146,095 shares during the quarter. DnB Asset Management AS’s holdings in Rocket Lab USA were worth $311,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its holdings in Rocket Lab USA by 22.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer’s stock valued at $28,006,000 after purchasing an additional 532,207 shares in the last quarter. D.A. Davidson & CO. acquired a new stake in shares of Rocket Lab USA in the third quarter valued at about $116,000. Rockefeller Capital Management L.P. lifted its stake in shares of Rocket Lab USA by 5.6% in the third quarter. Rockefeller Capital Management L.P. now owns 241,472 shares of the rocket manufacturer’s stock worth $2,350,000 after buying an additional 12,753 shares in the last quarter. Verition Fund Management LLC acquired a new position in Rocket Lab USA during the third quarter worth about $325,000. Finally, Centiva Capital LP acquired a new position in Rocket Lab USA during the third quarter worth about $116,000. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Rocket Lab USA Trading Up 6.6 %

Shares of RKLB stock opened at $19.34 on Thursday. Rocket Lab USA, Inc. has a 1-year low of $3.47 and a 1-year high of $33.34. The firm has a market cap of $8.77 billion, a PE ratio of -52.27 and a beta of 2.06. The company has a 50-day moving average of $23.12 and a two-hundred day moving average of $19.89. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16.

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

Analyst Upgrades and Downgrades

A number of research firms have commented on RKLB. TD Cowen upgraded shares of Rocket Lab USA to a “strong-buy” rating in a report on Monday, February 24th. Citigroup cut their price target on Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating for the company in a report on Friday, February 28th. The Goldman Sachs Group boosted their price objective 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. Stifel Nicolaus raised their target price on Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Finally, Morgan Stanley lifted their price target on Rocket Lab USA from $18.00 to $20.00 and gave the stock an “equal weight” rating in a report on Monday, March 10th. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $23.06.

Insider Activity

In other Rocket Lab USA news, insider Frank Klein sold 1,835 shares of Rocket Lab USA stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $19.93, for a total value 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. The trade was a 0.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 13.70% of the company’s stock.

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.