Rocket Lab USA, Inc. (NASDAQ:RKLB) Stake Lifted by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC increased its position in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 4.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,109 shares of the rocket manufacturer’s stock after purchasing an additional 3,841 shares during the period. Commonwealth Equity Services LLC’s holdings in Rocket Lab USA were worth $2,473,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Spectrum Wealth Counsel LLC bought a new position in shares of Rocket Lab USA during the 4th quarter valued at about $25,000. Wingate Wealth Advisors Inc. acquired a new stake in Rocket Lab USA during the fourth quarter valued at approximately $40,000. New Millennium Group LLC boosted its holdings in Rocket Lab USA by 105.0% during the fourth quarter. New Millennium Group LLC now owns 2,050 shares of the rocket manufacturer’s stock worth $52,000 after buying an additional 1,050 shares in the last quarter. AlphaQuest LLC bought a new stake in Rocket Lab USA during the fourth quarter worth approximately $52,000. Finally, Smartleaf Asset Management LLC grew its position in Rocket Lab USA by 1,565.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,015 shares of the rocket manufacturer’s stock worth $53,000 after buying an additional 1,894 shares during the last quarter. 71.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Rocket Lab USA

In other news, insider Frank Klein sold 1,835 shares of the firm’s stock in a transaction 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 transaction, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 13.70% of the company’s stock.

Rocket Lab USA Trading Down 4.1 %

Shares of NASDAQ:RKLB opened at $19.44 on Thursday. The firm has a fifty day moving average of $23.94 and a two-hundred day moving average of $19.48. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. Rocket Lab USA, Inc. has a 12-month low of $3.47 and a 12-month high of $33.34. The firm has a market capitalization of $8.82 billion, a P/E ratio of -52.54 and a beta of 2.06.

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

Analysts Set New Price Targets

RKLB has been the subject of several research reports. The Goldman Sachs Group raised their price objective on Rocket Lab USA from $12.00 to $13.50 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. Citigroup dropped their price target on Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Morgan Stanley upped their price objective on shares of Rocket Lab USA from $18.00 to $20.00 and gave the company an “equal weight” rating in a research note on Monday, March 10th. Wells Fargo & Company dropped their target price on shares of Rocket Lab USA from $22.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Monday, March 3rd. Finally, KeyCorp reduced their price target on shares of Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $23.06.

About Rocket Lab USA

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.