Mitsubishi UFJ Asset Management Co. Ltd. Sells 224,556 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB)

Mitsubishi UFJ Asset Management Co. Ltd. decreased its holdings in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 55.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 as of its most recent SEC filing.

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

Insider Transactions at Rocket Lab USA

In other news, insider Frank Klein sold 1,835 shares of the firm’s 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 owns 1,417,644 shares in the company, valued at $28,253,644.92. This trade represents a 0.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 13.70% of the stock is owned by insiders.

Rocket Lab USA Price Performance

Rocket Lab USA stock opened at $18.15 on Wednesday. Rocket Lab USA, Inc. has a 1 year low of $3.47 and a 1 year high of $33.34. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $8.23 billion, a P/E ratio of -49.05 and a beta of 2.06. The business has a 50-day moving average of $23.33 and a 200-day moving average of $19.89.

Rocket Lab USA (NASDAQ:RKLB) last issued its quarterly earnings data on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share (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 business had revenue of $132.39 million during the quarter, compared to analyst estimates of $130.58 million. On average, equities analysts anticipate that Rocket Lab USA, Inc. will post -0.38 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on RKLB. Stifel Nicolaus raised their target price on Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Wells Fargo & Company dropped 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 research note on Monday, March 3rd. The Goldman Sachs Group increased their price target on shares of Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a research note on Thursday, January 16th. TD Cowen raised Rocket Lab USA to a “strong-buy” rating in a report on Monday, February 24th. Finally, KeyCorp lowered their target price on Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $23.06.

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.