KLP Kapitalforvaltning AS Makes New Investment in Rocket Lab USA, Inc. (NASDAQ:RKLB)

KLP Kapitalforvaltning AS acquired a new position in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 67,100 shares of the rocket manufacturer's stock, valued at approximately $1,709,000.

Other institutional investors have also recently made changes to their positions in the company. Victory Capital Management Inc. boosted its stake in Rocket Lab USA by 4.4% during the 3rd quarter. Victory Capital Management Inc. now owns 40,587 shares of the rocket manufacturer's stock worth $395,000 after purchasing an additional 1,709 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in shares of Rocket Lab USA by 28.7% in the third quarter. Advisors Asset Management Inc. now owns 14,438 shares of the rocket manufacturer's stock worth $140,000 after buying an additional 3,220 shares in the last quarter. Intech Investment Management LLC acquired a new position in Rocket Lab USA during the third quarter worth about $921,000. Charles Schwab Investment Management Inc. grew its stake in Rocket Lab USA by 22.7% during 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 acquiring an additional 532,207 shares in the last quarter. Finally, Citigroup Inc. raised its holdings in Rocket Lab USA by 46.8% in the 3rd quarter. Citigroup Inc. now owns 691,387 shares of the rocket manufacturer's stock valued at $6,727,000 after acquiring an additional 220,432 shares during the last quarter. 71.78% of the stock is owned by hedge funds and other institutional investors.

Rocket Lab USA Trading Up 1.5 %

RKLB stock traded up $0.27 during mid-day trading on Tuesday, hitting $18.15. 14,007,712 shares of the company were exchanged, compared to its average volume of 14,755,571. Rocket Lab USA, Inc. has a 12-month low of $3.47 and a 12-month high of $33.34. 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 fifty day simple moving average of $23.33 and a 200-day simple moving average of $19.89. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97.

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Rocket Lab USA (NASDAQ:RKLB - Get Free Report) 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, equities research analysts predict that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current fiscal year.

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.

Wall Street Analysts Forecast Growth

RKLB has been the topic of several recent research reports. Stifel Nicolaus boosted their target price on Rocket Lab USA from $26.00 to $31.00 and gave the stock a "buy" rating in a report on Wednesday, January 8th. KeyCorp lowered their price objective on Rocket Lab USA from $32.00 to $28.00 and set an "overweight" rating on the stock in a research note on Friday, February 28th. 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 note on Monday, March 10th. TD Cowen raised shares of Rocket Lab USA to a "strong-buy" rating in a research report on Monday, February 24th. Finally, The Goldman Sachs Group raised their price objective on shares of Rocket Lab USA from $12.00 to $13.50 and gave the stock a "neutral" rating in a research report on Thursday, January 16th. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $23.06.

Rocket Lab USA Company 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.