National Bank of Canada FI Lowers Stock Holdings in Rocket Lab USA, Inc. (NASDAQ:RKLB)

National Bank of Canada FI cut its position in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 95.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,231 shares of the rocket manufacturer’s stock after selling 48,177 shares during the period. National Bank of Canada FI’s holdings in Rocket Lab USA were worth $57,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Chicago Partners Investment Group LLC grew its position in Rocket Lab USA by 0.4% in the 4th quarter. Chicago Partners Investment Group LLC now owns 79,943 shares of the rocket manufacturer’s stock valued at $2,187,000 after acquiring an additional 334 shares in the last quarter. Wellington Shields & Co. LLC increased its stake in Rocket Lab USA by 0.5% during the 4th quarter. Wellington Shields & Co. LLC now owns 74,522 shares of the rocket manufacturer’s stock worth $1,898,000 after buying an additional 383 shares during the period. Signaturefd LLC lifted its holdings in Rocket Lab USA by 12.2% during the 4th quarter. Signaturefd LLC now owns 6,014 shares of the rocket manufacturer’s stock worth $153,000 after buying an additional 653 shares in the last quarter. CIBC Asset Management Inc boosted its position in Rocket Lab USA by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 15,078 shares of the rocket manufacturer’s stock valued at $384,000 after buying an additional 746 shares during the period. Finally, IFP Advisors Inc boosted its position in Rocket Lab USA by 12.3% in the 4th quarter. IFP Advisors Inc now owns 6,885 shares of the rocket manufacturer’s stock valued at $175,000 after buying an additional 753 shares during the period. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on RKLB. The Goldman Sachs Group increased their price objective on Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a research note on Thursday, January 16th. Morgan Stanley lifted their price objective on Rocket Lab USA from $18.00 to $20.00 and gave the company an “equal weight” rating in a research note on Monday, March 10th. KeyCorp cut their target price on shares of Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Stifel Nicolaus lifted their price target on shares of Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Finally, Wells Fargo & Company lowered their price target on shares of Rocket Lab USA from $21.00 to $18.00 and set an “equal weight” rating for the company in a report on Tuesday, April 8th. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $22.72.

Insider Buying and Selling at Rocket Lab USA

In other news, insider Frank Klein sold 1,835 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $19.93, for a total value 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. The trade was a 0.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 13.70% of the stock is currently owned by insiders.

Rocket Lab USA Stock Performance

Shares of Rocket Lab USA stock opened at $19.63 on Friday. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. Rocket Lab USA, Inc. has a 52 week low of $3.47 and a 52 week high of $33.34. The firm’s 50 day moving average is $21.18 and its two-hundred day moving average is $20.49. The firm has a market capitalization of $8.90 billion, a P/E ratio of -53.05 and a beta of 2.08.

Rocket Lab USA (NASDAQ:RKLB) last issued its earnings results 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 analyst estimates of $130.58 million. Research analysts forecast that Rocket Lab USA, Inc. will post -0.38 EPS for the current fiscal year.

Rocket Lab USA 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.