Rocket Lab USA, Inc. (NASDAQ:RKLB) Stake Cut by Main Management ETF Advisors LLC

Main Management ETF Advisors LLC decreased its holdings in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 8.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 148,096 shares of the rocket manufacturer’s stock after selling 13,312 shares during the period. Rocket Lab USA comprises about 0.2% of Main Management ETF Advisors LLC’s portfolio, making the stock its 28th largest holding. Main Management ETF Advisors LLC’s holdings in Rocket Lab USA were worth $3,772,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of RKLB. Chicago Partners Investment Group LLC lifted its holdings in shares of 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 worth $2,187,000 after purchasing an additional 334 shares during the last quarter. Wellington Shields & Co. LLC boosted 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 valued at $1,898,000 after purchasing an additional 383 shares during the period. Signaturefd LLC increased its stake in shares of Rocket Lab USA by 12.2% in the fourth quarter. Signaturefd LLC now owns 6,014 shares of the rocket manufacturer’s stock valued at $153,000 after purchasing an additional 653 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of Rocket Lab USA by 3.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 21,747 shares of the rocket manufacturer’s stock valued at $554,000 after buying an additional 696 shares during the last quarter. Finally, CIBC Asset Management Inc grew its holdings 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 worth $384,000 after buying an additional 746 shares in the last quarter. 71.78% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Frank Klein sold 44,553 shares of Rocket Lab USA stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $18.18, for a total value of $809,973.54. Following the transaction, the insider now directly owns 1,419,479 shares of the company’s stock, valued at $25,806,128.22. This trade represents a 3.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 13.70% of the company’s stock.

Rocket Lab USA Stock Performance

NASDAQ:RKLB opened at $21.83 on Wednesday. The company has a 50-day moving average of $19.77 and a 200-day moving average of $22.20. The firm has a market cap of $9.90 billion, a price-to-earnings ratio of -59.00 and a beta of 2.04. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97. Rocket Lab USA, Inc. has a twelve month low of $4.15 and a twelve month high of $33.34.

Rocket Lab USA (NASDAQ:RKLB) last issued its earnings results on Thursday, May 8th. The rocket manufacturer reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.02). Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. The business had revenue of $122.57 million for the quarter, compared to the consensus estimate of $120.74 million. During the same quarter in the previous year, the business posted ($0.09) earnings per share. The company’s quarterly revenue was up 32.1% on a year-over-year basis. Analysts forecast that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on RKLB shares. Morgan Stanley raised their target price on Rocket Lab USA from $18.00 to $20.00 and gave the company an “equal weight” rating in a research report on Monday, March 10th. Wells Fargo & Company lowered their price target on Rocket Lab USA from $21.00 to $18.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. TD Cowen upgraded shares of Rocket Lab USA to a “strong-buy” rating in a research note on Monday, February 24th. Needham & Company LLC reiterated a “buy” rating and issued a $28.00 target price on shares of Rocket Lab USA in a research report on Tuesday. Finally, Citigroup dropped their price target on shares of Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Rocket Lab USA presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.50.

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.