Hennion & Walsh Asset Management Inc. Increases Stake in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Hennion & Walsh Asset Management Inc. boosted its stake in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 196.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 65,014 shares of the rocket manufacturer’s stock after purchasing an additional 43,095 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Rocket Lab USA were worth $267,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in RKLB. Qube Research & Technologies Ltd bought a new stake in shares of Rocket Lab USA in the 3rd quarter worth approximately $2,271,000. Graham Capital Management L.P. bought a new stake in shares of Rocket Lab USA in the 3rd quarter worth approximately $221,000. American Century Companies Inc. grew its position in shares of Rocket Lab USA by 12.0% in the 3rd quarter. American Century Companies Inc. now owns 3,701,611 shares of the rocket manufacturer’s stock worth $16,213,000 after buying an additional 396,501 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Rocket Lab USA by 14.6% in the 3rd quarter. Wellington Management Group LLP now owns 851,280 shares of the rocket manufacturer’s stock worth $3,729,000 after buying an additional 108,451 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Rocket Lab USA by 4.7% in the 3rd quarter. Vanguard Group Inc. now owns 26,100,419 shares of the rocket manufacturer’s stock worth $114,320,000 after buying an additional 1,167,403 shares during the last quarter. 71.78% of the stock is currently owned by institutional investors.

Insider Transactions at Rocket Lab USA

In other news, CFO Adam C. Spice sold 63,529 shares of the business’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $4.22, for a total value of $268,092.38. Following the completion of the transaction, the chief financial officer now owns 1,383,677 shares in the company, valued at $5,839,116.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, General Counsel Arjun Kampani sold 29,026 shares of the business’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $4.22, for a total value of $122,489.72. Following the completion of the transaction, the general counsel now owns 666,121 shares in the company, valued at $2,811,030.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Adam C. Spice sold 63,529 shares of the business’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $4.22, for a total value of $268,092.38. Following the completion of the transaction, the chief financial officer now owns 1,383,677 shares of the company’s stock, valued at approximately $5,839,116.94. The disclosure for this sale can be found here. Company insiders own 13.70% of the company’s stock.

Rocket Lab USA Trading Up 0.2 %

Rocket Lab USA stock opened at $4.62 on Friday. The company has a current ratio of 3.12, a quick ratio of 2.69 and a debt-to-equity ratio of 0.86. The business’s fifty day simple moving average is $4.38 and its two-hundred day simple moving average is $4.46. Rocket Lab USA, Inc. has a 12 month low of $3.47 and a 12 month high of $8.05. The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of -12.49 and a beta of 1.25.

Rocket Lab USA (NASDAQ:RKLB) last released its earnings results on Monday, May 6th. The rocket manufacturer reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.02. Rocket Lab USA had a negative return on equity of 32.50% and a negative net margin of 64.15%. The business had revenue of $92.80 million for the quarter, compared to the consensus estimate of $94.98 million. During the same period in the previous year, the company posted ($0.10) earnings per share. The company’s revenue for the quarter was up 69.0% compared to the same quarter last year. As a group, equities analysts predict that Rocket Lab USA, Inc. will post -0.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on RKLB shares. The Goldman Sachs Group started coverage on Rocket Lab USA in a research report on Tuesday, June 11th. They set a “neutral” rating and a $4.50 price target on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $6.00 price target on shares of Rocket Lab USA in a research report on Monday. Wells Fargo & Company dropped their price target on Rocket Lab USA from $5.00 to $4.25 and set an “equal weight” rating on the stock in a research report on Thursday, April 4th. Roth Mkm restated a “buy” rating and set a $7.00 price target on shares of Rocket Lab USA in a research report on Tuesday, June 18th. Finally, BTIG Research started coverage on Rocket Lab USA in a research report on Wednesday, June 26th. They set a “neutral” rating on the stock. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $6.65.

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.