Northwestern Mutual Wealth Management Co. Boosts Stock Holdings in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Northwestern Mutual Wealth Management Co. lifted its holdings in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 24.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 27,334 shares of the rocket manufacturer’s stock after purchasing an additional 5,332 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Rocket Lab USA were worth $131,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RKLB. Virtu Financial LLC purchased a new stake in Rocket Lab USA during the fourth quarter worth $852,000. Vanguard Group Inc. raised its position in shares of Rocket Lab USA by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 26,551,789 shares of the rocket manufacturer’s stock worth $146,831,000 after acquiring an additional 451,370 shares in the last quarter. Sanders Morris Harris LLC purchased a new stake in shares of Rocket Lab USA during the 1st quarter worth $145,000. 180 Wealth Advisors LLC boosted its position in Rocket Lab USA by 35.3% during the first quarter. 180 Wealth Advisors LLC now owns 37,373 shares of the rocket manufacturer’s stock valued at $154,000 after purchasing an additional 9,747 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its stake in Rocket Lab USA by 196.6% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 65,014 shares of the rocket manufacturer’s stock valued at $267,000 after purchasing an additional 43,095 shares during the last quarter. 71.78% of the stock is currently owned by institutional investors.

Rocket Lab USA Price Performance

Shares of RKLB opened at $9.70 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.82 and a quick ratio of 2.43. The company’s fifty day moving average price is $7.02 and its 200-day moving average price is $5.33. Rocket Lab USA, Inc. has a 1-year low of $3.47 and a 1-year high of $10.29. The firm has a market capitalization of $4.78 billion, a PE ratio of -26.22 and a beta of 1.32.

Rocket Lab USA (NASDAQ:RKLB) last posted its quarterly 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 business had revenue of $106.25 million for the quarter, compared to the consensus estimate of $105.47 million. Rocket Lab USA had a negative return on equity of 34.12% and a negative net margin of 54.17%. During the same quarter in the previous year, the business earned ($0.10) EPS. The company’s quarterly revenue was up 71.2% compared to the same quarter last year. On average, equities research analysts predict that Rocket Lab USA, Inc. will post -0.39 EPS for the current year.

Analyst Ratings Changes

Several analysts have commented on the stock. Roth Mkm reissued a “buy” rating and set a $7.00 price target on shares of Rocket Lab USA in a research report on Tuesday, June 18th. Morgan Stanley downgraded shares of Rocket Lab USA from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $8.00 to $6.00 in a research note on Monday, July 15th. The Goldman Sachs Group lifted their price target on shares of Rocket Lab USA from $4.50 to $5.00 and gave the stock a “neutral” rating in a report on Thursday. BTIG Research started coverage on Rocket Lab USA in a report on Wednesday, June 26th. They set a “neutral” rating for the company. Finally, KeyCorp boosted their target price on Rocket Lab USA from $8.00 to $11.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $6.75.

Insider Buying and Selling

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