American Century Companies Inc. Lowers Stock Position in Rocket Lab USA, Inc. (NASDAQ:RKLB)

American Century Companies Inc. lessened its position in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 26.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,154,846 shares of the rocket manufacturer’s stock after selling 782,060 shares during the period. American Century Companies Inc. owned approximately 0.43% of Rocket Lab USA worth $54,884,000 at the end of the most recent reporting period.

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

Rocket Lab USA Trading Down 4.1 %

Shares of RKLB stock opened at $19.44 on Thursday. The company has a market capitalization of $8.82 billion, a price-to-earnings ratio of -52.54 and a beta of 2.06. 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 50-day moving average price of $23.94 and a 200 day moving average price of $19.48. Rocket Lab USA, Inc. has a twelve month low of $3.47 and a twelve month high of $33.34.

Rocket Lab USA (NASDAQ:RKLB) 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 firm 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 forecast that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Rocket Lab USA news, insider Frank Klein sold 44,553 shares of Rocket Lab USA stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $18.18, for a total value of $809,973.54. Following the completion of the sale, the insider now owns 1,419,479 shares in the company, valued at $25,806,128.22. The trade was a 3.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 13.70% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on RKLB shares. 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 report on Monday, March 3rd. Morgan Stanley raised their price objective on Rocket Lab USA from $18.00 to $20.00 and gave the company an “equal weight” rating in a research note on Monday, March 10th. 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 research report on Wednesday, January 8th. Citigroup lowered their target price on Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Finally, KeyCorp cut their price target 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 research 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’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.