Commonwealth Equity Services LLC Lowers Stock Holdings in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Commonwealth Equity Services LLC trimmed its position in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 20.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 60,776 shares of the rocket manufacturer’s stock after selling 15,972 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Rocket Lab USA were worth $292,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. 180 Wealth Advisors LLC raised its position in Rocket Lab USA by 7.5% in the 2nd quarter. 180 Wealth Advisors LLC now owns 40,180 shares of the rocket manufacturer’s stock valued at $214,000 after purchasing an additional 2,807 shares in the last quarter. Advisors Asset Management Inc. raised 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 purchasing an additional 4,032 shares in the last quarter. ProShare Advisors LLC raised its position in Rocket Lab USA by 10.2% in the 1st quarter. ProShare Advisors LLC now owns 50,879 shares of the rocket manufacturer’s stock valued at $209,000 after purchasing an additional 4,713 shares in the last quarter. Bayesian Capital Management LP raised its position in Rocket Lab USA by 38.7% in the 1st quarter. Bayesian Capital Management LP now owns 20,800 shares of the rocket manufacturer’s stock valued at $85,000 after purchasing an additional 5,800 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in Rocket Lab USA by 18.1% in the 1st quarter. Principal Financial Group Inc. now owns 38,074 shares of the rocket manufacturer’s stock valued at $156,000 after purchasing an additional 5,838 shares in the last quarter. 71.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, 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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CFO Adam C. Spice sold 62,512 shares of the business’s 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 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Arjun Kampani sold 28,563 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total value of $198,798.48. Following the completion of the transaction, the general counsel now directly owns 637,558 shares of the company’s stock, valued at $4,437,403.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 130,521 shares of company stock valued at $906,059. 13.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. JMP Securities assumed coverage on Rocket Lab USA in a research report on Thursday, September 12th. They issued a “market perform” rating on the stock. BTIG Research assumed coverage on Rocket Lab USA in a research report on Wednesday, June 26th. They set a “neutral” rating on the stock. Citigroup raised their target price 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. Morgan Stanley lowered Rocket Lab USA from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $8.00 to $6.00 in a research report on Monday, July 15th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $7.00 target price on shares of Rocket Lab USA in a research report on Monday. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.86.

Rocket Lab USA Stock Up 0.4 %

Rocket Lab USA stock opened at $7.59 on Wednesday. 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, Inc. has a 1-year low of $3.47 and a 1-year high of $7.72. The company has a market cap of $3.74 billion, a PE ratio of -20.51 and a beta of 1.27. The stock’s 50 day moving average price is $6.04 and its 200 day moving average price is $4.90.

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 analysts’ consensus estimates of ($0.10) by $0.02. Rocket Lab USA had a negative return on equity of 34.12% and a negative net margin of 54.17%. The firm had revenue of $106.25 million for the quarter, compared to the consensus estimate of $105.47 million. During the same period in the previous year, the business earned ($0.10) earnings per share. The company’s revenue for the quarter was up 71.2% compared to the same quarter last year. On average, sell-side analysts predict that Rocket Lab USA, Inc. will post -0.4 EPS for the current fiscal year.

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.