Atria Wealth Solutions Inc. Buys 4,500 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB)

Atria Wealth Solutions Inc. boosted its stake in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 9.8% during the fourth quarter, Holdings Channel reports. The firm owned 50,400 shares of the rocket manufacturer’s stock after purchasing an additional 4,500 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Rocket Lab USA were worth $279,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RKLB. Raymond James & Associates raised its stake in Rocket Lab USA by 10.3% during the 4th quarter. Raymond James & Associates now owns 21,825 shares of the rocket manufacturer’s stock valued at $121,000 after buying an additional 2,040 shares during the last quarter. Cerity Partners LLC boosted its stake in shares of Rocket Lab USA by 14.5% in the 4th quarter. Cerity Partners LLC now owns 17,630 shares of the rocket manufacturer’s stock worth $97,000 after buying an additional 2,230 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Rocket Lab USA by 8.2% in the third quarter. Victory Capital Management Inc. now owns 30,274 shares of the rocket manufacturer’s stock worth $133,000 after acquiring an additional 2,293 shares during the period. Amalgamated Bank increased its position in Rocket Lab USA by 6.9% during the third quarter. Amalgamated Bank now owns 42,410 shares of the rocket manufacturer’s stock valued at $186,000 after acquiring an additional 2,723 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its holdings in Rocket Lab USA by 2.5% in the fourth quarter. New York State Common Retirement Fund now owns 114,781 shares of the rocket manufacturer’s stock valued at $635,000 after acquiring an additional 2,845 shares during the period. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on RKLB shares. Citigroup cut their price target on Rocket Lab USA from $6.00 to $5.45 and set a “buy” rating for the company in a research note on Tuesday. Wells Fargo & Company cut their target price on shares of Rocket Lab USA from $5.00 to $4.25 and set an “equal weight” rating for the company in a research report on Thursday, April 4th. Finally, KeyCorp assumed coverage on shares of Rocket Lab USA in a research report on Wednesday, January 17th. They issued an “overweight” rating and a $8.00 price target on the stock. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $7.39.

Rocket Lab USA Trading Up 3.3 %

Rocket Lab USA stock opened at $4.10 on Thursday. Rocket Lab USA, Inc. has a 12-month low of $3.47 and a 12-month high of $8.05. The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of -10.79 and a beta of 1.18. The firm has a 50 day moving average of $3.98 and a 200 day moving average of $4.44. The company has a current ratio of 2.13, a quick ratio of 1.65 and a debt-to-equity ratio of 0.19.

Rocket Lab USA (NASDAQ:RKLB) last posted its quarterly earnings results on Monday, May 6th. The rocket manufacturer reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.02. The business had revenue of $92.80 million during the quarter, compared to analyst estimates of $94.98 million. Rocket Lab USA had a negative net margin of 74.64% and a negative return on equity of 30.54%. The company’s revenue was up 69.0% on a year-over-year basis. During the same period in the prior year, the business posted ($0.10) earnings per share. As a group, research analysts predict that Rocket Lab USA, Inc. will post -0.42 earnings per share for the current year.

Insider Buying and Selling

In other Rocket Lab USA news, CFO Adam C. Spice sold 67,160 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $4.25, for a total transaction of $285,430.00. Following the sale, the chief financial officer now directly owns 1,442,206 shares of the company’s stock, valued at $6,129,375.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Rocket Lab USA news, CFO Adam C. Spice sold 67,160 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $4.25, for a total value of $285,430.00. Following the completion of the transaction, the chief financial officer now directly owns 1,442,206 shares in the company, valued at approximately $6,129,375.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Arjun Kampani sold 31,394 shares of Rocket Lab USA stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $4.25, for a total transaction of $133,424.50. Following the sale, the general counsel now owns 695,147 shares in the company, valued at approximately $2,954,374.75. The disclosure for this sale can be found here. 13.70% of the stock is currently owned by insiders.

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.