Dimensional Fund Advisors LP Trims Position in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Dimensional Fund Advisors LP lessened its stake in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 5.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,678,416 shares of the rocket manufacturer’s stock after selling 232,593 shares during the quarter. Dimensional Fund Advisors LP owned about 0.75% of Rocket Lab USA worth $17,657,000 at the end of the most recent reporting period.

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

Rocket Lab USA Stock Performance

NASDAQ:RKLB opened at $9.80 on Friday. The business has a 50 day moving average of $6.68 and a 200 day moving average of $5.18. The company has a market capitalization of $4.87 billion, a price-to-earnings ratio of -26.49 and a beta of 1.32. Rocket Lab USA, Inc. has a 1-year low of $3.47 and a 1-year high of $10.29. 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 announced its quarterly earnings results on Thursday, August 8th. The rocket manufacturer reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.02. The business had revenue of $106.25 million for the quarter, compared to analysts’ expectations of $105.47 million. Rocket Lab USA had a negative return on equity of 34.12% and a negative net margin of 54.17%. The business’s quarterly revenue was up 71.2% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.10) EPS. On average, sell-side analysts predict that Rocket Lab USA, Inc. will post -0.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

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 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 of the company’s stock, valued at $9,195,308.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 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 of the company’s stock, valued at $9,195,308.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Arjun Kampani sold 28,563 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 $198,798.48. Following the transaction, the general counsel now directly owns 637,558 shares in the company, valued at $4,437,403.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 130,521 shares of company stock valued at $906,059 in the last ninety days. Company insiders own 13.70% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. JMP Securities assumed coverage on Rocket Lab USA in a research report on Thursday, September 12th. They set a “market perform” rating for the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $7.00 price target on shares of Rocket Lab USA in a research report on Monday, September 30th. 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 report on Friday, September 27th. Roth Mkm reiterated 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, Morgan Stanley downgraded Rocket Lab USA from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $8.00 to $6.00 in a research report on Monday, July 15th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $6.68.

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.