LPL Financial LLC Raises Stock Holdings in Rocket Lab USA, Inc. (NASDAQ:RKLB)

LPL Financial LLC boosted its position in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 89.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 249,873 shares of the rocket manufacturer’s stock after purchasing an additional 118,123 shares during the quarter. LPL Financial LLC’s holdings in Rocket Lab USA were worth $6,364,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Spectrum Wealth Counsel LLC bought a new position in shares of Rocket Lab USA in the 4th quarter worth about $25,000. Sandy Spring Bank purchased a new stake in Rocket Lab USA in the fourth quarter worth about $26,000. Wingate Wealth Advisors Inc. bought a new position in shares of Rocket Lab USA during the fourth quarter valued at approximately $40,000. New Millennium Group LLC lifted its holdings in shares of Rocket Lab USA by 105.0% during the fourth quarter. New Millennium Group LLC now owns 2,050 shares of the rocket manufacturer’s stock valued at $52,000 after purchasing an additional 1,050 shares during the last quarter. Finally, AlphaQuest LLC bought a new stake in shares of Rocket Lab USA in the 4th quarter worth approximately $52,000. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Insider Transactions at Rocket Lab USA

In other Rocket Lab USA news, insider Frank Klein sold 1,835 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $19.93, for a total transaction of $36,571.55. Following the completion of the sale, the insider now directly owns 1,417,644 shares of the company’s stock, valued at approximately $28,253,644.92. This represents a 0.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 13.70% of the company’s stock.

Rocket Lab USA Trading Down 8.5 %

Shares of NASDAQ RKLB opened at $16.37 on Monday. Rocket Lab USA, Inc. has a fifty-two week low of $3.47 and a fifty-two week high of $33.34. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58. The company has a market cap of $7.42 billion, a price-to-earnings ratio of -44.24 and a beta of 2.08. The business’s 50 day moving average price is $22.57 and its 200-day moving average price is $20.12.

Rocket Lab USA (NASDAQ:RKLB) last released its quarterly earnings data on Thursday, 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). Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. The company had revenue of $132.39 million during the quarter, compared to analysts’ expectations of $130.58 million. On average, sell-side analysts expect that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on RKLB. The Goldman Sachs Group raised their price objective on Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a research report on Thursday, January 16th. KeyCorp lowered their price target on Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. TD Cowen raised shares of Rocket Lab USA to a “strong-buy” rating in a research report on Monday, February 24th. Morgan Stanley lifted their target price on shares of Rocket Lab USA from $18.00 to $20.00 and gave the stock an “equal weight” rating in a report on Monday, March 10th. Finally, Wells Fargo & Company cut their price target on shares of Rocket Lab USA from $22.00 to $21.00 and set an “equal weight” rating on the stock in a report on Monday, March 3rd. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $23.06.

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.