Blair William & Co. IL Cuts Stock Position in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Blair William & Co. IL trimmed its position in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 1.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 187,703 shares of the rocket manufacturer’s stock after selling 2,365 shares during the period. Blair William & Co. IL’s holdings in Rocket Lab USA were worth $4,781,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of RKLB. Vanguard Group Inc. grew its position in Rocket Lab USA by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 36,195,577 shares of the rocket manufacturer’s stock valued at $921,901,000 after acquiring an additional 668,093 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Rocket Lab USA by 12.2% in the 3rd quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock valued at $80,317,000 after purchasing an additional 898,223 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Rocket Lab USA by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,902,212 shares of the rocket manufacturer’s stock valued at $73,919,000 after purchasing an additional 23,855 shares during the last quarter. Bank of New York Mellon Corp raised its position in Rocket Lab USA by 2.6% in the 4th quarter. Bank of New York Mellon Corp now owns 1,121,024 shares of the rocket manufacturer’s stock worth $28,552,000 after purchasing an additional 28,618 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in Rocket Lab USA in the fourth quarter worth $21,896,000. 71.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Morgan Stanley raised 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. Citigroup reduced their price target on 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. TD Cowen upgraded Rocket Lab USA to a “strong-buy” rating in a research report on Monday, February 24th. 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 report on Friday, February 28th. Finally, The Goldman Sachs Group upped their price target on shares of Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a report on Thursday, January 16th. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.06.

Rocket Lab USA Price Performance

Shares of NASDAQ RKLB opened at $18.62 on Monday. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16. Rocket Lab USA, Inc. has a 1 year low of $3.47 and a 1 year high of $33.34. The company’s 50-day moving average is $23.71 and its 200 day moving average is $19.74. The stock has a market capitalization of $8.45 billion, a P/E ratio of -50.32 and a beta of 2.06.

Rocket Lab USA (NASDAQ:RKLB) last announced 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 return on equity of 39.47% and a negative net margin of 51.76%. The firm had revenue of $132.39 million during the quarter, compared to the consensus estimate 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.

Insider Buying and Selling at Rocket Lab USA

In other news, insider Frank Klein sold 1,835 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $19.93, for a total value of $36,571.55. Following the sale, the insider now directly owns 1,417,644 shares of the company’s stock, valued at $28,253,644.92. This represents a 0.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 13.70% of the company’s stock.

About Rocket Lab USA

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.