Man Group plc Invests $10.16 Million in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Man Group plc bought a new position in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 398,772 shares of the rocket manufacturer’s stock, valued at approximately $10,157,000. Man Group plc owned about 0.08% of Rocket Lab USA as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of RKLB. FMR LLC increased its position in shares of Rocket Lab USA by 30,853.3% during the fourth quarter. FMR LLC now owns 3,696,136 shares of the rocket manufacturer’s stock worth $94,141,000 after acquiring an additional 3,684,195 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of Rocket Lab USA during the fourth quarter worth about $56,977,000. Renaissance Technologies LLC increased its position in shares of Rocket Lab USA by 1,765.4% during the fourth quarter. Renaissance Technologies LLC now owns 1,818,800 shares of the rocket manufacturer’s stock worth $46,325,000 after acquiring an additional 1,721,300 shares during the last quarter. Hsbc Holdings PLC increased its position in shares of Rocket Lab USA by 3,592.0% during the fourth quarter. Hsbc Holdings PLC now owns 1,534,265 shares of the rocket manufacturer’s stock worth $39,477,000 after acquiring an additional 1,492,708 shares during the last quarter. Finally, Driehaus Capital Management LLC purchased a new stake in shares of Rocket Lab USA during the fourth quarter worth about $35,987,000. 71.78% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Frank Klein sold 1,835 shares of Rocket Lab USA stock in a transaction that occurred 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 sale, the insider now owns 1,417,644 shares of the company’s stock, valued at approximately $28,253,644.92. The trade was a 0.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 13.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Wells Fargo & Company decreased their price target on Rocket Lab USA from $21.00 to $18.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 8th. TD Cowen upgraded Rocket Lab USA to a “strong-buy” rating in a research note on Monday, February 24th. The Goldman Sachs Group lifted their price target on Rocket Lab USA from $14.35 to $16.00 and gave the stock a “neutral” rating in a research note on Monday, May 12th. KeyCorp decreased 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. Finally, Citigroup decreased their price target on Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $23.50.

Rocket Lab USA Stock Performance

Shares of RKLB stock opened at $25.57 on Monday. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. The business has a 50 day moving average of $20.19 and a two-hundred day moving average of $22.57. Rocket Lab USA, Inc. has a 52 week low of $4.15 and a 52 week high of $33.34. The company has a market cap of $11.60 billion, a P/E ratio of -69.11 and a beta of 2.04.

Rocket Lab USA (NASDAQ:RKLB) last released its quarterly earnings results on Thursday, May 8th. The rocket manufacturer reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.02). The business had revenue of $122.57 million for the quarter, compared to the consensus estimate of $120.74 million. Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. The business’s quarterly revenue was up 32.1% on a year-over-year basis. During the same period last year, the firm posted ($0.09) EPS. As a group, analysts anticipate that Rocket Lab USA, Inc. will post -0.38 EPS for the current year.

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.