Cetera Investment Advisers Lowers Stake in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Cetera Investment Advisers lessened its holdings in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) by 31.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 31,119 shares of the rocket manufacturer's stock after selling 14,156 shares during the quarter. Cetera Investment Advisers' holdings in Rocket Lab USA were worth $793,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Centiva Capital LP grew its holdings in Rocket Lab USA by 469.9% during the 4th quarter. Centiva Capital LP now owns 68,219 shares of the rocket manufacturer's stock valued at $1,738,000 after buying an additional 56,248 shares in the last quarter. Cantor Fitzgerald L. P. purchased a new position in Rocket Lab USA during the fourth quarter valued at $1,881,000. BNP Paribas Financial Markets purchased a new position in Rocket Lab USA during the fourth quarter valued at $56,977,000. Ameriprise Financial Inc. bought a new stake in Rocket Lab USA in the 4th quarter valued at $31,601,000. Finally, Algert Global LLC purchased a new stake in Rocket Lab USA in the 4th quarter worth $1,495,000. Institutional investors own 71.78% of the company's stock.

Insider Buying and Selling at Rocket Lab USA

In other Rocket Lab USA news, insider Frank Klein sold 1,835 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $19.93, for a total transaction of $36,571.55. Following the transaction, the insider now directly owns 1,417,644 shares of the company's stock, valued at $28,253,644.92. This trade represents a 0.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 13.70% of the company's stock.

Analyst Upgrades and Downgrades

RKLB has been the subject of a number of research analyst reports. Needham & Company LLC restated a "buy" rating and set a $28.00 price objective on shares of Rocket Lab USA in a research report on Tuesday, May 13th. Wells Fargo & Company cut their price target on Rocket Lab USA from $21.00 to $18.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. TD Cowen upgraded Rocket Lab USA to a "strong-buy" rating in a research report on Monday, February 24th. Citigroup cut their target price on shares of Rocket Lab USA from $35.00 to $33.00 and set a "buy" rating for the company in a report on Friday, February 28th. Finally, KeyCorp lowered their price objective on shares of Rocket Lab USA from $32.00 to $28.00 and set an "overweight" rating for the company in a research report on Friday, February 28th. Five analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Rocket Lab USA currently has a consensus rating of "Moderate Buy" and an average price target of $23.50.

Rocket Lab USA Stock Up 0.7%

NASDAQ:RKLB traded up $0.20 during trading hours on Wednesday, reaching $28.96. The company's stock had a trading volume of 13,481,823 shares, compared to its average volume of 16,167,391. The stock has a 50 day moving average price of $21.26 and a two-hundred day moving average price of $23.16. Rocket Lab USA, Inc. has a 12 month low of $4.15 and a 12 month high of $33.34. 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 company has a market capitalization of $13.13 billion, a P/E ratio of -78.62 and a beta of 2.04.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $122.57 million for the quarter, compared to analyst estimates of $120.74 million. Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. The business's revenue for the quarter was up 32.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.09) earnings per share. Equities analysts predict that Rocket Lab USA, Inc. will post -0.38 EPS for the current fiscal year.

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.