Ancora Advisors LLC Lowers Holdings in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Ancora Advisors LLC reduced its stake in Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) by 48.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,500 shares of the rocket manufacturer's stock after selling 14,500 shares during the quarter. Ancora Advisors LLC's holdings in Rocket Lab USA were worth $395,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Spectrum Wealth Counsel LLC acquired a new position in Rocket Lab USA in the fourth quarter valued at approximately $25,000. Sandy Spring Bank acquired a new position in Rocket Lab USA during the fourth quarter worth $26,000. Wingate Wealth Advisors Inc. bought a new position in shares of Rocket Lab USA in the fourth quarter valued at $40,000. Quarry LP acquired a new position in shares of Rocket Lab USA during the fourth quarter valued at about $48,000. Finally, NewEdge Advisors LLC increased its position in shares of Rocket Lab USA by 1,000.0% during the fourth quarter. NewEdge Advisors LLC now owns 1,925 shares of the rocket manufacturer's stock worth $49,000 after acquiring an additional 1,750 shares in the last quarter. 71.78% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Frank Klein sold 1,835 shares of Rocket Lab USA stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $19.93, for a total transaction of $36,571.55. Following the sale, the insider now directly owns 1,417,644 shares in the company, valued at $28,253,644.92. The trade was a 0.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 13.70% of the stock is currently owned by insiders.

Rocket Lab USA Trading Up 4.4%

RKLB traded up $0.90 on Monday, hitting $21.41. 6,633,393 shares of the company were exchanged, compared to its average volume of 15,616,574. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58. The firm has a fifty day simple moving average of $19.69 and a two-hundred day simple moving average of $22.13. The stock has a market capitalization of $9.71 billion, a PE ratio of -57.98 and a beta of 2.04. Rocket Lab USA, Inc. has a 12 month low of $4.15 and a 12 month high of $33.34.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The rocket manufacturer reported ($0.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.02). The firm had revenue of $122.57 million during the quarter, compared to analysts' expectations of $120.74 million. Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. Rocket Lab USA's revenue was up 32.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.09) EPS. Sell-side analysts expect that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on RKLB. TD Cowen raised shares of Rocket Lab USA to a "strong-buy" rating in a research report on Monday, February 24th. Citigroup dropped their price target on shares of 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. Wells Fargo & Company cut their target price on Rocket Lab USA from $21.00 to $18.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Needham & Company LLC assumed coverage on Rocket Lab USA in a research note on Friday, April 25th. They set a "buy" rating and a $28.00 target price on the stock. Finally, Morgan Stanley increased their price objective on Rocket Lab USA from $18.00 to $20.00 and gave the company an "equal weight" rating in a report on Monday, March 10th. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $23.25.

Rocket Lab USA Company 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.