Vontobel Holding Ltd. Trims Stock Holdings in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Vontobel Holding Ltd. cut its holdings in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 31.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,745 shares of the rocket manufacturer’s stock after selling 10,679 shares during the period. Vontobel Holding Ltd.’s holdings in Rocket Lab USA were worth $231,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of RKLB. Advisors Asset Management Inc. increased its position in Rocket Lab USA by 59.4% in the 1st quarter. Advisors Asset Management Inc. now owns 10,816 shares of the rocket manufacturer’s stock valued at $44,000 after acquiring an additional 4,032 shares during the period. International Assets Investment Management LLC acquired a new position in shares of Rocket Lab USA in the second quarter valued at approximately $46,000. Baxter Bros Inc. acquired a new position in shares of Rocket Lab USA in the second quarter valued at approximately $48,000. Amalgamated Bank raised its stake in shares of Rocket Lab USA by 26.7% during the second quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock worth $58,000 after purchasing an additional 2,538 shares during the last quarter. Finally, CIBC Asset Management Inc acquired a new stake in shares of Rocket Lab USA during the second quarter worth $67,000. 71.78% of the stock is currently owned by hedge funds and other institutional investors.

Rocket Lab USA Stock Performance

RKLB opened at $10.91 on Thursday. Rocket Lab USA, Inc. has a 1-year low of $3.47 and a 1-year high of $11.52. The stock has a market cap of $5.38 billion, a P/E ratio of -29.49 and a beta of 1.32. The stock’s 50 day simple moving average is $8.04 and its 200 day simple moving average is $5.75. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.82 and a quick ratio of 2.43.

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

Analyst Ratings Changes

A number of equities analysts have commented on RKLB shares. BTIG Research initiated coverage on shares of Rocket Lab USA in a research report on Wednesday, June 26th. They set a “neutral” rating for the company. Citigroup increased their price target on shares of Rocket Lab USA from $5.45 to $7.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Morgan Stanley lowered Rocket Lab USA from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $8.00 to $6.00 in a report on Monday, July 15th. JMP Securities began coverage on Rocket Lab USA in a research note on Thursday, September 12th. They set a “market perform” rating for the company. Finally, KeyCorp lifted their price target on Rocket Lab USA from $8.00 to $11.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Rocket Lab USA has an average rating of “Hold” and a consensus price target of $6.75.

Insider Buying and Selling at Rocket Lab USA

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

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.