Chesapeake Capital Corp IL Takes Position in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Chesapeake Capital Corp IL acquired a new position in Rocket Lab USA, Inc. (NASDAQ:RKLBFree Report) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 47,453 shares of the rocket manufacturer’s stock, valued at approximately $262,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RKLB. Vanguard Group Inc. raised its holdings in Rocket Lab USA by 4.7% during the 3rd quarter. Vanguard Group Inc. now owns 26,100,419 shares of the rocket manufacturer’s stock worth $114,320,000 after purchasing an additional 1,167,403 shares during the last quarter. American Century Companies Inc. lifted its stake in Rocket Lab USA by 12.0% in the third quarter. American Century Companies Inc. now owns 3,701,611 shares of the rocket manufacturer’s stock valued at $16,213,000 after buying an additional 396,501 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Rocket Lab USA by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,081,839 shares of the rocket manufacturer’s stock worth $11,513,000 after buying an additional 24,232 shares during the period. Bank of New York Mellon Corp grew its position in shares of Rocket Lab USA by 20.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,415,596 shares of the rocket manufacturer’s stock worth $6,200,000 after buying an additional 244,461 shares during the period. Finally, LA Financiere DE L Echiquier raised its holdings in shares of Rocket Lab USA by 12.2% during the fourth quarter. LA Financiere DE L Echiquier now owns 913,000 shares of the rocket manufacturer’s stock valued at $5,049,000 after purchasing an additional 99,000 shares during the period. 71.78% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, General Counsel Arjun Kampani sold 31,394 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $4.25, for a total transaction of $133,424.50. Following the completion of the sale, the general counsel now directly owns 695,147 shares of the company’s stock, valued at approximately $2,954,374.75. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CFO Adam C. Spice sold 67,160 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $4.25, for a total value of $285,430.00. Following the transaction, the chief financial officer now owns 1,442,206 shares in the company, valued at $6,129,375.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Arjun Kampani sold 31,394 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $4.25, for a total value of $133,424.50. Following the transaction, the general counsel now directly owns 695,147 shares of the company’s stock, valued at $2,954,374.75. The disclosure for this sale can be found here. Insiders own 13.70% of the company’s stock.

Analysts Set New Price Targets

RKLB has been the subject of a number of research analyst reports. Wells Fargo & Company decreased their target price on Rocket Lab USA from $5.00 to $4.25 and set an “equal weight” rating for the company in a research report on Thursday, April 4th. Citigroup lowered their target price on Rocket Lab USA from $6.00 to $5.45 and set a “buy” rating on the stock in a research report on Tuesday, May 7th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $7.39.

Check Out Our Latest Stock Analysis on Rocket Lab USA

Rocket Lab USA Trading Down 0.2 %

RKLB traded down $0.01 during midday trading on Monday, reaching $4.21. 5,153,800 shares of the company were exchanged, compared to its average volume of 8,326,058. Rocket Lab USA, Inc. has a one year low of $3.47 and a one year high of $8.05. The company’s fifty day moving average price is $3.97 and its 200 day moving average price is $4.44. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.69 and a current ratio of 3.12.

Rocket Lab USA (NASDAQ:RKLBGet Free Report) last posted its earnings results on Monday, May 6th. The rocket manufacturer reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.02. Rocket Lab USA had a negative net margin of 64.15% and a negative return on equity of 32.50%. The firm had revenue of $92.80 million during the quarter, compared to analyst estimates of $94.98 million. During the same quarter in the prior year, the business posted ($0.10) EPS. The business’s revenue was up 69.0% compared to the same quarter last year. Equities research analysts forecast that Rocket Lab USA, Inc. will post -0.41 EPS for the current year.

Rocket Lab USA Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding RKLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rocket Lab USA, Inc. (NASDAQ:RKLBFree Report).

Institutional Ownership by Quarter for Rocket Lab USA (NASDAQ:RKLB)

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