Rocket Lab USA, Inc. (NASDAQ:RKLB) Stock Holdings Trimmed by Pier 88 Investment Partners LLC

Pier 88 Investment Partners LLC lessened its holdings in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 60.4% in the fourth quarter, HoldingsChannel reports. The fund owned 63,910 shares of the rocket manufacturer’s stock after selling 97,640 shares during the period. Pier 88 Investment Partners LLC’s holdings in Rocket Lab USA were worth $1,628,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of RKLB. Spectrum Wealth Counsel LLC bought a new stake in Rocket Lab USA during the fourth quarter worth approximately $25,000. Sandy Spring Bank acquired a new position in shares of Rocket Lab USA during the 4th quarter valued at $26,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Rocket Lab USA in the 4th quarter worth $40,000. Smartleaf Asset Management LLC boosted its stake in Rocket Lab USA by 1,565.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,015 shares of the rocket manufacturer’s stock valued at $53,000 after buying an additional 1,894 shares in the last quarter. Finally, AlphaQuest LLC bought a new position in Rocket Lab USA during the fourth quarter valued at about $52,000. 71.78% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on RKLB shares. Stifel Nicolaus boosted 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 report on Wednesday, January 8th. KeyCorp dropped 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. Citigroup dropped their price target on Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Friday, February 28th. 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 report on Thursday, January 16th. Finally, TD Cowen upgraded Rocket Lab USA to a “strong-buy” rating in a report on Monday, February 24th. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $23.06.

Rocket Lab USA Stock Up 1.1 %

NASDAQ:RKLB opened at $18.62 on Monday. The business’s fifty day moving average price is $23.71 and its 200 day moving average price is $19.74. The firm has a market capitalization of $8.45 billion, a price-to-earnings ratio of -50.32 and a beta of 2.06. 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 1-year low of $3.47 and a 1-year high of $33.34.

Rocket Lab USA (NASDAQ:RKLB) last issued its earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). The business had revenue of $132.39 million during the quarter, compared to analyst estimates of $130.58 million. Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. On average, sell-side analysts forecast that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Frank Klein sold 1,835 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $19.93, for a total value of $36,571.55. Following the transaction, 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 legal filing with the SEC, which can be accessed through this link. Insiders own 13.70% of the company’s stock.

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.