Mitsubishi UFJ Asset Management Co. Ltd. Has $4.53 Million Stock Holdings in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Mitsubishi UFJ Asset Management Co. Ltd. reduced its stake in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) by 55.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Chicago Partners Investment Group LLC lifted its holdings in shares of Rocket Lab USA by 0.4% during the 4th quarter. Chicago Partners Investment Group LLC now owns 79,943 shares of the rocket manufacturer's stock worth $2,187,000 after acquiring an additional 334 shares during the period. Wellington Shields & Co. LLC boosted its position in Rocket Lab USA by 0.5% during the fourth quarter. Wellington Shields & Co. LLC now owns 74,522 shares of the rocket manufacturer's stock worth $1,898,000 after purchasing an additional 383 shares during the period. Signaturefd LLC grew its stake in shares of Rocket Lab USA by 12.2% in the fourth quarter. Signaturefd LLC now owns 6,014 shares of the rocket manufacturer's stock valued at $153,000 after acquiring an additional 653 shares in the last quarter. CIBC Asset Management Inc boosted its stake in shares of Rocket Lab USA by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 15,078 shares of the rocket manufacturer's stock valued at $384,000 after purchasing an additional 746 shares in the last quarter. Finally, IFP Advisors Inc grew its stake in Rocket Lab USA by 12.3% during the fourth quarter. IFP Advisors Inc now owns 6,885 shares of the rocket manufacturer's stock worth $175,000 after purchasing an additional 753 shares during the period. Institutional investors and hedge funds own 71.78% of the company's stock.

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Rocket Lab USA Trading Down 8.1 %

RKLB stock traded down $1.45 during mid-day trading on Friday, reaching $16.44. 17,002,455 shares of the stock traded hands, compared to its average volume of 14,813,320. 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 stock has a market capitalization of $7.46 billion, a PE ratio of -44.51 and a beta of 2.06. The business has a 50-day moving average price of $22.85 and a two-hundred day moving average price of $19.88. Rocket Lab USA, Inc. has a one year low of $3.47 and a one year high of $33.34.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last posted its earnings results 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). The business had revenue of $132.39 million for the quarter, compared to analyst estimates of $130.58 million. Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. Equities research analysts expect that Rocket Lab USA, Inc. will post -0.38 EPS for the current year.

Analyst Ratings Changes

Several research firms recently commented on RKLB. Stifel Nicolaus upped their price objective 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. Morgan Stanley increased their price objective on shares of Rocket Lab USA from $18.00 to $20.00 and gave the company an "equal weight" rating in a report on Monday, March 10th. Citigroup lowered their price target 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 raised shares of Rocket Lab USA to a "strong-buy" rating in a report on Monday, February 24th. Finally, KeyCorp decreased their price target on shares of 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 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. According to data from MarketBeat, Rocket Lab USA presently has an average rating of "Moderate Buy" and an average target price of $23.06.

Insider Buying and Selling at Rocket Lab USA

In related news, insider Frank Klein sold 1,835 shares of the stock in a transaction on Monday, March 17th. The stock was 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 approximately $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 accessible through the SEC website. 13.70% of the stock is owned by insiders.

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.