HBK Sorce Advisory LLC Raises Holdings in Rocket Lab USA, Inc. (NASDAQ:RKLB)

HBK Sorce Advisory LLC increased its stake in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB – Get Rating) by 100.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,000 shares of the rocket manufacturer’s stock after purchasing an additional 25,000 shares during the period. HBK Sorce Advisory LLC’s holdings in Rocket Lab USA were worth $40,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. IFP Advisors Inc increased its position in Rocket Lab USA by 49.8% during the 4th quarter. IFP Advisors Inc now owns 7,819 shares of the rocket manufacturer’s stock worth $81,000 after purchasing an additional 2,600 shares in the last quarter. ProShare Advisors LLC raised its position in shares of Rocket Lab USA by 16.7% in the fourth quarter. ProShare Advisors LLC now owns 27,750 shares of the rocket manufacturer’s stock valued at $105,000 after buying an additional 3,977 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Rocket Lab USA by 20.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,594 shares of the rocket manufacturer’s stock valued at $89,000 after buying an additional 4,025 shares during the period. Sanders Morris Harris LLC lifted its stake in shares of Rocket Lab USA by 15.9% during the fourth quarter. Sanders Morris Harris LLC now owns 36,500 shares of the rocket manufacturer’s stock valued at $138,000 after buying an additional 5,000 shares during the period. Finally, Northern Trust Corp boosted its position in Rocket Lab USA by 1.7% during the first quarter. Northern Trust Corp now owns 314,140 shares of the rocket manufacturer’s stock worth $2,529,000 after acquiring an additional 5,146 shares during the last quarter. Hedge funds and other institutional investors own 69.11% of the company’s stock.

Insider Buying and Selling at Rocket Lab USA

In other news, insider Arjun Kampani sold 22,532 shares of the business’s stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $4.23, for a total value of $95,310.36. Following the completion of the sale, the insider now directly owns 568,493 shares in the company, valued at approximately $2,404,725.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Arjun Kampani sold 22,532 shares of the business’s stock in a transaction dated Thursday, March 9th. The shares were sold at an average price of $4.23, for a total transaction of $95,310.36. Following the completion of the sale, the insider now owns 568,493 shares of the company’s stock, valued at approximately $2,404,725.39. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Adam C. Spice sold 64,189 shares of the stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $4.23, for a total value of $271,519.47. Following the sale, the chief financial officer now owns 1,686,168 shares in the company, valued at $7,132,490.64. The disclosure for this sale can be found here. Insiders have sold 137,410 shares of company stock worth $589,861 over the last quarter. 15.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on RKLB. Wells Fargo & Company reduced their price target on Rocket Lab USA from $5.75 to $5.50 and set an “equal weight” rating on the stock in a research note on Monday, March 6th. Deutsche Bank Aktiengesellschaft decreased their price target on Rocket Lab USA from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, March 7th. Finally, Citigroup began coverage on shares of Rocket Lab USA in a research note on Tuesday, April 18th. They set a “neutral” rating and a $4.55 price objective for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $8.45.

Rocket Lab USA Stock Up 0.4 %

NASDAQ:RKLB opened at $4.67 on Friday. The firm has a 50-day moving average of $3.99 and a two-hundred day moving average of $4.33. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.22 and a quick ratio of 2.72. Rocket Lab USA, Inc. has a 1-year low of $3.48 and a 1-year high of $7.29.

Rocket Lab USA (NASDAQ:RKLB – Get Rating) last issued its quarterly earnings data on Tuesday, February 28th. The rocket manufacturer reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02). Rocket Lab USA had a negative net margin of 68.77% and a negative return on equity of 22.79%. The business had revenue of $51.76 million for the quarter, compared to analyst estimates of $46.76 million. As a group, equities analysts anticipate that Rocket Lab USA, Inc. will post -0.35 earnings per share for the current fiscal year.

Rocket Lab USA Company Profile

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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 engineering and 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.