Rocket Lab USA, Inc. (NASDAQ:RKLB) Stake Lifted by Headlands Technologies LLC

Headlands Technologies LLC increased its stake in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 9,674.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 68,129 shares of the rocket manufacturer’s stock after buying an additional 67,432 shares during the quarter. Headlands Technologies LLC’s holdings in Rocket Lab USA were worth $327,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new position in Rocket Lab USA during the 2nd quarter worth $46,000. Spire Wealth Management boosted its position in Rocket Lab USA by 257.1% during the 1st quarter. Spire Wealth Management now owns 10,000 shares of the rocket manufacturer’s stock worth $41,000 after acquiring an additional 7,200 shares during the period. Baxter Bros Inc. acquired a new position in Rocket Lab USA during the 2nd quarter worth $48,000. Advisors Asset Management Inc. lifted its holdings in shares of Rocket Lab USA by 59.4% in the first quarter. Advisors Asset Management Inc. now owns 10,816 shares of the rocket manufacturer’s stock valued at $44,000 after buying an additional 4,032 shares during the period. Finally, Brown Advisory Inc. acquired a new stake in shares of Rocket Lab USA in the fourth quarter valued at $61,000. Institutional investors and hedge funds own 71.78% of the company’s stock.

Rocket Lab USA Stock Up 8.7 %

NASDAQ:RKLB opened at $7.46 on Friday. The firm has a market capitalization of $3.70 billion, a price-to-earnings ratio of -20.16 and a beta of 1.27. Rocket Lab USA, Inc. has a 1-year low of $3.47 and a 1-year high of $7.47. The company has a current ratio of 2.82, a quick ratio of 2.43 and a debt-to-equity ratio of 0.90. The business’s fifty day moving average price is $5.76 and its 200 day moving average price is $4.76.

Rocket Lab USA (NASDAQ:RKLB) last issued its earnings results on Thursday, August 8th. The rocket manufacturer reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.02. Rocket Lab USA had a negative return on equity of 34.12% and a negative net margin of 54.17%. The company had revenue of $106.25 million for the quarter, compared to analyst estimates of $105.47 million. During the same period in the prior year, the firm posted ($0.10) EPS. The business’s revenue was up 71.2% compared to the same quarter last year. On average, sell-side analysts forecast that Rocket Lab USA, Inc. will post -0.4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

RKLB has been the subject of several research analyst reports. JMP Securities initiated coverage on Rocket Lab USA in a report on Thursday. They issued a “market perform” rating for the company. Citigroup upped their price objective on Rocket Lab USA from $5.45 to $7.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Roth Mkm reaffirmed a “buy” rating and set a $7.00 target price on shares of Rocket Lab USA in a report on Tuesday, June 18th. The Goldman Sachs Group started coverage on Rocket Lab USA in a report on Tuesday, June 11th. They set a “neutral” rating and a $4.50 target price for the company. Finally, Morgan Stanley downgraded Rocket Lab USA from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $8.00 to $6.00 in a report on Monday, July 15th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $6.86.

Insiders Place Their Bets

In other Rocket Lab USA news, Director Michael D. Griffin sold 39,446 shares of the company’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $6.90, for a total value of $272,177.40. Following the transaction, the director now directly owns 42,353 shares of the company’s stock, valued at approximately $292,235.70. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CFO Adam C. Spice sold 62,512 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total transaction of $435,083.52. Following the transaction, the chief financial officer now owns 1,321,165 shares of the company’s stock, valued at approximately $9,195,308.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Michael D. Griffin sold 39,446 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $6.90, for a total value of $272,177.40. Following the transaction, the director now directly owns 42,353 shares in the company, valued at approximately $292,235.70. The disclosure for this sale can be found here. Insiders have sold a total of 130,521 shares of company stock valued at $906,059 in the last three months. Insiders own 13.70% of the company’s stock.

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.