Pictet Asset Management Holding SA Has $1.09 Million Stock Holdings in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Pictet Asset Management Holding SA grew its position in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 26.5% in the fourth quarter, HoldingsChannel reports. The fund owned 42,834 shares of the rocket manufacturer’s stock after acquiring an additional 8,980 shares during the period. Pictet Asset Management Holding SA’s holdings in Rocket Lab USA were worth $1,091,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Spectrum Wealth Counsel LLC bought a new stake in Rocket Lab USA during the fourth quarter worth about $25,000. Sandy Spring Bank acquired a new stake in Rocket Lab USA in the fourth quarter valued at $26,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Rocket Lab USA during the 4th quarter worth about $40,000. Smartleaf Asset Management LLC raised its holdings in shares of Rocket Lab USA by 1,565.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,015 shares of the rocket manufacturer’s stock valued at $53,000 after purchasing an additional 1,894 shares during the period. Finally, AlphaQuest LLC acquired a new stake in Rocket Lab USA in the 4th quarter valued at about $52,000. 71.78% of the stock is owned by institutional investors.

Rocket Lab USA Trading Down 8.5 %

Shares of NASDAQ:RKLB opened at $16.37 on Friday. The business’s 50 day simple moving average is $22.57 and its 200 day simple moving average is $20.03. 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. The company has a market capitalization of $7.42 billion, a P/E ratio of -44.24 and a beta of 2.08.

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

Insider Buying and Selling at Rocket Lab USA

In related news, insider Frank Klein sold 1,835 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $19.93, for a total transaction of $36,571.55. Following the sale, the insider now owns 1,417,644 shares in the company, valued at approximately $28,253,644.92. This trade represents a 0.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 13.70% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on RKLB shares. KeyCorp dropped their price objective on Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Stifel Nicolaus lifted their price objective 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. Citigroup dropped their price objective on shares of 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. TD Cowen raised shares of Rocket Lab USA to a “strong-buy” rating in a report on Monday, February 24th. Finally, The Goldman Sachs Group increased their price target on shares of Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a report on Thursday, January 16th. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company 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.