AtonRa Partners Sells 16,303 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB)

AtonRa Partners lowered its stake in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 14.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 98,526 shares of the rocket manufacturer’s stock after selling 16,303 shares during the quarter. Rocket Lab USA comprises 1.1% of AtonRa Partners’ portfolio, making the stock its 29th largest holding. AtonRa Partners’ holdings in Rocket Lab USA were worth $545,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Raymond James & Associates increased its position in Rocket Lab USA by 10.3% in the 4th quarter. Raymond James & Associates now owns 21,825 shares of the rocket manufacturer’s stock worth $121,000 after buying an additional 2,040 shares during the period. Cerity Partners LLC grew its position in 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 purchasing an additional 2,230 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Rocket Lab USA by 8.2% during the third quarter. Victory Capital Management Inc. now owns 30,274 shares of the rocket manufacturer’s stock valued at $133,000 after buying an additional 2,293 shares during the last quarter. Amalgamated Bank grew 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 worth $186,000 after buying an additional 2,723 shares in the last quarter. Finally, New York State Common Retirement Fund increased its position in shares of Rocket Lab USA by 2.5% during 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 purchasing an additional 2,845 shares during the period. 71.78% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RKLB has been the subject of several recent research reports. Wells Fargo & Company dropped their price target 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. Citigroup reiterated a “buy” rating and set a $6.00 target price on shares of Rocket Lab USA in a research report on Monday, February 12th. Finally, KeyCorp initiated coverage on shares of Rocket Lab USA in a report on Wednesday, January 17th. They set an “overweight” rating and a $8.00 price objective for the company. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $7.46.

Rocket Lab USA Price Performance

Shares of RKLB traded up $0.03 during mid-day trading on Monday, hitting $3.80. 3,861,303 shares of the company traded hands, compared to its average volume of 8,290,647. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.13 and a quick ratio of 1.65. The business has a 50-day moving average of $4.09 and a 200 day moving average of $4.46. Rocket Lab USA, Inc. has a one year low of $3.47 and a one year high of $8.05.

Rocket Lab USA (NASDAQ:RKLB) last released its earnings results on Tuesday, February 27th. The rocket manufacturer reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.01). Rocket Lab USA had a negative net margin of 74.64% and a negative return on equity of 30.54%. The firm had revenue of $59.99 million during the quarter, compared to analyst estimates of $62.90 million. During the same period last year, the business posted ($0.08) earnings per share. The firm’s quarterly revenue was up 15.9% on a year-over-year basis. As a group, analysts expect that Rocket Lab USA, Inc. will post -0.42 EPS for the current fiscal year.

Insiders Place Their Bets

In other Rocket Lab USA news, CFO Adam C. Spice sold 67,160 shares of Rocket Lab USA 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 transaction, the chief financial officer now directly owns 1,442,206 shares in the company, valued at $6,129,375.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, General Counsel Arjun Kampani sold 31,394 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $4.25, for a total transaction of $133,424.50. Following the completion of the transaction, the general counsel now directly owns 695,147 shares of the company’s stock, valued at $2,954,374.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 sale, the chief financial officer now owns 1,442,206 shares in the company, valued at approximately $6,129,375.50. The disclosure for this sale can be found here. Company insiders own 15.00% 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.