398,772 Shares in Rocket Lab USA, Inc. (NASDAQ:RKLB) Acquired by Man Group plc

Man Group plc bought a new position in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 398,772 shares of the rocket manufacturer’s stock, valued at approximately $10,157,000.

Several other institutional investors also recently modified their holdings of RKLB. Spectrum Wealth Counsel LLC bought a new position in shares of Rocket Lab USA in the fourth quarter valued at $25,000. Sandy Spring Bank bought a new position in shares of Rocket Lab USA in the fourth quarter valued at $26,000. Wingate Wealth Advisors Inc. bought a new position in shares of Rocket Lab USA in the fourth quarter valued at $40,000. Quarry LP bought a new position in shares of Rocket Lab USA in the fourth quarter valued at $48,000. Finally, NewEdge Advisors LLC increased its holdings in shares of Rocket Lab USA by 1,000.0% in the fourth 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. Institutional investors own 71.78% of the company’s stock.

Analyst Ratings Changes

RKLB has been the topic of several research reports. Wells Fargo & Company dropped their price target on Rocket Lab USA from $21.00 to $18.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. TD Cowen upgraded shares of Rocket Lab USA to a “strong-buy” rating in a research report on Monday, February 24th. KeyCorp lowered their price objective on shares of Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Needham & Company LLC reiterated a “buy” rating and set a $28.00 price objective on shares of Rocket Lab USA in a research report on Tuesday, May 13th. Finally, The Goldman Sachs Group lifted their price objective on shares of Rocket Lab USA from $14.35 to $16.00 and gave the stock a “neutral” rating in a research report on Monday, May 12th. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.50.

Insider Buying and Selling

In related news, insider Frank Klein sold 1,835 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $19.93, for a total value 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 represents a 0.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 13.70% of the stock is currently owned by corporate insiders.

Rocket Lab USA Trading Up 1.4%

Rocket Lab USA stock opened at $25.57 on Monday. The company’s fifty day simple moving average is $20.19 and its 200-day simple moving average is $22.57. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. Rocket Lab USA, Inc. has a 12 month low of $4.15 and a 12 month high of $33.34. The stock has a market cap of $11.60 billion, a P/E ratio of -69.11 and a beta of 2.04.

Rocket Lab USA (NASDAQ:RKLB) last posted its quarterly earnings results on Thursday, May 8th. The rocket manufacturer reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.02). Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. The company had revenue of $122.57 million for the quarter, compared to analysts’ expectations of $120.74 million. During the same quarter in the prior year, the firm earned ($0.09) earnings per share. The company’s revenue was up 32.1% on a year-over-year basis. As a group, sell-side analysts forecast that Rocket Lab USA, Inc. will post -0.38 EPS for the current fiscal year.

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.