BI Asset Management Fondsmaeglerselskab A S Invests $2.39 Million in Rocket Lab USA, Inc. (NASDAQ:RKLB)

BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 93,791 shares of the rocket manufacturer's stock, valued at approximately $2,389,000.

Other large investors have also recently made changes to their positions in the company. Spectrum Wealth Counsel LLC purchased a new stake in Rocket Lab USA in the fourth quarter worth approximately $25,000. Sandy Spring Bank purchased a new position in Rocket Lab USA in the 4th quarter worth approximately $26,000. Wingate Wealth Advisors Inc. purchased a new stake in Rocket Lab USA in the 4th quarter worth $40,000. NewEdge Advisors LLC grew its holdings in Rocket Lab USA by 1,000.0% during the 4th quarter. NewEdge Advisors LLC now owns 1,925 shares of the rocket manufacturer's stock valued at $49,000 after buying an additional 1,750 shares in the last quarter. Finally, New Millennium Group LLC increased its position in 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 worth $52,000 after purchasing an additional 1,050 shares during the last quarter. 71.78% of the stock is currently owned by hedge funds and other institutional investors.

Rocket Lab USA Price Performance

Shares of RKLB traded up $0.39 during trading hours on Tuesday, hitting $19.04. 9,180,974 shares of the stock were exchanged, compared to its average volume of 15,344,610. The stock's 50-day moving average price is $19.95 and its two-hundred day moving average price is $20.99. 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 company has a market cap of $8.64 billion, a price-to-earnings ratio of -51.46 and a beta of 2.08. Rocket Lab USA, Inc. has a 12-month low of $3.56 and a 12-month high of $33.34.

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on RKLB shares. KeyCorp decreased their price target on Rocket Lab USA from $32.00 to $28.00 and set an "overweight" rating on the stock in a report on Friday, February 28th. Citigroup dropped their target price on shares of Rocket Lab USA from $35.00 to $33.00 and set a "buy" rating on the stock in a report on Friday, February 28th. TD Cowen upgraded Rocket Lab USA to a "strong-buy" rating in a research note on Monday, February 24th. Morgan Stanley increased their price objective on Rocket Lab USA from $18.00 to $20.00 and gave the company an "equal weight" rating in a report on Monday, March 10th. Finally, The Goldman Sachs Group raised 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. 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. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $22.72.

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 shares were sold at an average price of $19.93, for a total transaction of $36,571.55. Following the completion of the sale, the insider now directly owns 1,417,644 shares in the company, valued at $28,253,644.92. This trade represents a 0.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company 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.