J.W. Cole Advisors Inc. Sells 51,900 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB)

J.W. Cole Advisors Inc. lowered its stake in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 48.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,275 shares of the rocket manufacturer’s stock after selling 51,900 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Rocket Lab USA were worth $300,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Raymond James & Associates boosted its position in Rocket Lab USA by 10.3% during the fourth quarter. Raymond James & Associates now owns 21,825 shares of the rocket manufacturer’s stock valued at $121,000 after purchasing an additional 2,040 shares in the last quarter. Cerity Partners LLC raised its stake in Rocket Lab USA by 14.5% in the fourth quarter. Cerity Partners LLC now owns 17,630 shares of the rocket manufacturer’s stock valued at $97,000 after buying an additional 2,230 shares during the last quarter. Victory Capital Management Inc. raised its stake in Rocket Lab USA by 8.2% in the third quarter. Victory Capital Management Inc. now owns 30,274 shares of the rocket manufacturer’s stock valued at $133,000 after buying an additional 2,293 shares during the last quarter. Amalgamated Bank raised its stake in Rocket Lab USA by 6.9% in the third quarter. Amalgamated Bank now owns 42,410 shares of the rocket manufacturer’s stock valued at $186,000 after buying an additional 2,723 shares during the last quarter. Finally, Avitas Wealth Management LLC raised its stake in Rocket Lab USA by 2.5% in the fourth quarter. Avitas Wealth Management LLC now owns 121,332 shares of the rocket manufacturer’s stock valued at $671,000 after buying an additional 2,913 shares during the last quarter. Institutional investors own 71.78% of the company’s stock.

Rocket Lab USA Price Performance

Shares of NASDAQ:RKLB opened at $3.69 on Thursday. Rocket Lab USA, Inc. has a 52-week low of $3.47 and a 52-week high of $8.05. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.65 and a current ratio of 2.13. The business has a 50-day moving average price of $4.14 and a 200-day moving average price of $4.48.

Rocket Lab USA (NASDAQ:RKLB) last announced its quarterly earnings data on Tuesday, February 27th. The rocket manufacturer reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The firm had revenue of $59.99 million during the quarter, compared to analysts’ expectations of $62.90 million. Rocket Lab USA had a negative return on equity of 30.54% and a negative net margin of 74.64%. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.08) earnings per share. As a group, equities research analysts predict that Rocket Lab USA, Inc. will post -0.42 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Citigroup reiterated a “buy” rating and issued a $6.00 price target on shares of Rocket Lab USA in a research note on Monday, February 12th. Wells Fargo & Company decreased their price target on Rocket Lab USA from $5.00 to $4.25 and set an “equal weight” rating for the company in a research note on Thursday, April 4th. Finally, KeyCorp assumed coverage on Rocket Lab USA in a research note on Wednesday, January 17th. They issued an “overweight” rating and a $8.00 price target for the company. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Rocket Lab USA has a consensus rating of “Moderate Buy” and an average price target of $7.46.

Insider Activity at Rocket Lab USA

In related news, CFO Adam C. Spice sold 67,160 shares of Rocket Lab USA stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $4.25, for a total transaction of $285,430.00. Following the completion of the transaction, the chief financial officer now directly owns 1,442,206 shares in the company, valued at $6,129,375.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, General Counsel Arjun Kampani sold 31,394 shares of Rocket Lab USA stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $4.25, for a total transaction of $133,424.50. Following the completion of the transaction, the general counsel now directly owns 695,147 shares in the company, valued at $2,954,374.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Adam C. Spice sold 67,160 shares of Rocket Lab USA stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $4.25, for a total value of $285,430.00. Following the transaction, the chief financial officer now owns 1,442,206 shares of the company’s stock, valued at $6,129,375.50. The disclosure for this sale can be found here. 15.00% 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.