ProShare Advisors LLC Trims Position in Rocket Lab USA, Inc. (NASDAQ:RKLB)

ProShare Advisors LLC decreased its position in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 25.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 37,930 shares of the rocket manufacturer’s stock after selling 12,949 shares during the quarter. ProShare Advisors LLC’s holdings in Rocket Lab USA were worth $182,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ieq Capital LLC bought a new position in shares of Rocket Lab USA in the 2nd quarter worth approximately $5,469,000. Amalgamated Bank increased its holdings in Rocket Lab USA by 26.7% during the second quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock valued at $58,000 after buying an additional 2,538 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in Rocket Lab USA in the second quarter worth approximately $140,000. American Century Companies Inc. boosted its stake in shares of Rocket Lab USA by 11.1% during the 2nd quarter. American Century Companies Inc. now owns 2,856,973 shares of the rocket manufacturer’s stock worth $13,713,000 after acquiring an additional 284,360 shares during the last quarter. Finally, Wellington Shields & Co. LLC grew its position in shares of Rocket Lab USA by 3.8% during the 2nd quarter. Wellington Shields & Co. LLC now owns 69,142 shares of the rocket manufacturer’s stock valued at $332,000 after acquiring an additional 2,503 shares during the period. 71.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on RKLB. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $7.00 target price on shares of Rocket Lab USA in a report on Monday, September 30th. Citigroup upped their price target on Rocket Lab USA from $5.45 to $7.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. KeyCorp lifted their price objective on Rocket Lab USA from $8.00 to $11.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Morgan Stanley lowered shares of Rocket Lab USA from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $8.00 to $6.00 in a report on Monday, July 15th. Finally, The Goldman Sachs Group initiated coverage on shares of Rocket Lab USA in a report on Tuesday, June 11th. They set a “neutral” rating and a $4.50 price target on the stock. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $6.68.

Insiders Place Their Bets

In other news, CFO Adam C. Spice sold 62,512 shares of the firm’s 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 completion of the transaction, the chief financial officer now owns 1,321,165 shares in the company, valued at $9,195,308.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Rocket Lab USA news, Director Michael D. Griffin sold 39,446 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $6.90, for a total transaction of $272,177.40. Following the completion of the transaction, the director now owns 42,353 shares in the company, valued at $292,235.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Adam C. Spice sold 62,512 shares of Rocket Lab USA stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total transaction of $435,083.52. Following the completion of the transaction, the chief financial officer now directly owns 1,321,165 shares of the company’s stock, valued at $9,195,308.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 130,521 shares of company stock worth $906,059 in the last 90 days. 13.70% of the stock is currently owned by corporate insiders.

Rocket Lab USA Stock Up 5.9 %

NASDAQ RKLB opened at $9.80 on Friday. Rocket Lab USA, Inc. has a 12 month low of $3.47 and a 12 month high of $10.29. 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 stock has a market cap of $4.87 billion, a PE ratio of -26.49 and a beta of 1.32. The stock’s 50 day moving average is $6.68 and its 200 day moving average is $5.19.

Rocket Lab USA (NASDAQ:RKLB) last released its earnings results on Thursday, August 8th. The rocket manufacturer reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.02. The firm had revenue of $106.25 million for the quarter, compared to the consensus estimate of $105.47 million. Rocket Lab USA had a negative net margin of 54.17% and a negative return on equity of 34.12%. The company’s quarterly revenue was up 71.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.10) earnings per share. Research analysts predict that Rocket Lab USA, Inc. will post -0.39 EPS for the current fiscal year.

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.