Corebridge Financial Inc. Sells 13,058 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB)

Corebridge Financial Inc. lowered its holdings in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 7.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 172,979 shares of the rocket manufacturer’s stock after selling 13,058 shares during the period. Corebridge Financial Inc.’s holdings in Rocket Lab USA were worth $4,406,000 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 the business. Citigroup Inc. grew its holdings in Rocket Lab USA by 46.8% during the 3rd quarter. Citigroup Inc. now owns 691,387 shares of the rocket manufacturer’s stock valued at $6,727,000 after buying an additional 220,432 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Rocket Lab USA by 22.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer’s stock worth $28,006,000 after acquiring an additional 532,207 shares during the last quarter. Geode Capital Management LLC grew its stake in Rocket Lab USA by 12.2% during the third quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock valued at $80,317,000 after acquiring an additional 898,223 shares in the last quarter. National Bank of Canada FI lifted its stake in Rocket Lab USA by 149.2% in the 3rd quarter. National Bank of Canada FI now owns 50,408 shares of the rocket manufacturer’s stock worth $490,000 after purchasing an additional 30,178 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its holdings in shares of Rocket Lab USA by 22.4% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 227,438 shares of the rocket manufacturer’s stock valued at $2,213,000 after purchasing an additional 41,551 shares during the last quarter. Institutional investors own 71.78% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. TD Cowen raised Rocket Lab USA to a “strong-buy” rating in a report on Monday, February 24th. KeyCorp decreased their price objective on Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Stifel Nicolaus boosted their price target on shares of Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. The Goldman Sachs Group increased their price objective on shares of Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a research report on Thursday, January 16th. Finally, Morgan Stanley boosted their target price on shares of Rocket Lab USA from $18.00 to $20.00 and gave the stock an “equal weight” rating in a report on Monday, March 10th. 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $23.06.

Rocket Lab USA Stock Up 1.1 %

Shares of NASDAQ:RKLB opened at $18.62 on Monday. The firm has a market capitalization of $8.45 billion, a PE ratio of -50.32 and a beta of 2.06. The business has a 50 day simple moving average of $23.71 and a two-hundred day simple moving average of $19.74. Rocket Lab USA, Inc. has a 1 year low of $3.47 and a 1 year high of $33.34. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16.

Rocket Lab USA (NASDAQ:RKLB) last posted its quarterly earnings data on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. The business had revenue of $132.39 million for the quarter, compared to analysts’ expectations of $130.58 million. On average, equities analysts predict that Rocket Lab USA, Inc. will post -0.38 EPS for the current year.

Insider Activity at Rocket Lab USA

In other Rocket Lab USA news, insider Frank Klein sold 1,835 shares of the firm’s 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 transaction, the insider now directly owns 1,417,644 shares in the company, valued at $28,253,644.92. This trade represents a 0.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 13.70% of the stock is currently owned by company insiders.

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.