American Century Companies Inc. Cuts Holdings in Rocket Lab USA, Inc. (NASDAQ:RKLB)

American Century Companies Inc. lessened its position in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 26.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. 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.’s holdings in Rocket Lab USA were worth $54,884,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RKLB. Spectrum Wealth Counsel LLC purchased a new stake in shares of Rocket Lab USA during the 4th quarter worth about $25,000. Sandy Spring Bank purchased a new stake in Rocket Lab USA during the fourth quarter worth approximately $26,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Rocket Lab USA in the fourth quarter worth $40,000. New Millennium Group LLC raised its stake in shares of Rocket Lab USA by 105.0% in the 4th quarter. New Millennium Group LLC now owns 2,050 shares of the rocket manufacturer’s stock valued at $52,000 after acquiring an additional 1,050 shares during the period. Finally, AlphaQuest LLC acquired a new position in shares of Rocket Lab USA during the 4th quarter valued at $52,000. 71.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Rocket Lab USA

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

Rocket Lab USA Stock Performance

Rocket Lab USA stock opened at $19.44 on Thursday. Rocket Lab USA, Inc. has a 52 week low of $3.47 and a 52 week high of $33.34. 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 stock has a market cap of $8.82 billion, a P/E ratio of -52.54 and a beta of 2.06. The stock has a 50 day moving average of $23.94 and a 200-day moving average of $19.48.

Rocket Lab USA (NASDAQ:RKLB) last posted its quarterly earnings data on Thursday, February 27th. The rocket manufacturer reported ($0.10) EPS 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 the consensus estimate of $130.58 million. Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. On average, analysts expect that Rocket Lab USA, Inc. will post -0.38 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on the company. KeyCorp cut their price objective on 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. The Goldman Sachs Group raised their target price on Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a report on Thursday, January 16th. Citigroup reduced their price target on Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. 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 research report on Monday, March 10th. Finally, TD Cowen raised shares of Rocket Lab USA to a “strong-buy” rating in a research report on Monday, February 24th. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.