Huntleigh Advisors Inc. Reduces Stock Holdings in Rocket Lab Corporation (NASDAQ:RKLB)

Huntleigh Advisors Inc. trimmed its holdings in Rocket Lab Corporation (NASDAQ:RKLB - Free Report) by 53.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 50,425 shares of the rocket manufacturer's stock after selling 58,678 shares during the quarter. Huntleigh Advisors Inc.'s holdings in Rocket Lab were worth $902,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in Rocket Lab by 25.0% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 47,146 shares of the rocket manufacturer's stock valued at $843,000 after buying an additional 9,418 shares in the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of Rocket Lab during the first quarter valued at approximately $3,236,000. Principal Financial Group Inc. raised its stake in shares of Rocket Lab by 475.7% during the first quarter. Principal Financial Group Inc. now owns 171,337 shares of the rocket manufacturer's stock valued at $3,064,000 after acquiring an additional 141,577 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of Rocket Lab in the first quarter valued at approximately $878,000. Finally, Vontobel Holding Ltd. increased its holdings in Rocket Lab by 54.1% during the 1st quarter. Vontobel Holding Ltd. now owns 23,364 shares of the rocket manufacturer's stock worth $418,000 after purchasing an additional 8,200 shares during the period. 71.78% of the stock is owned by institutional investors.

Rocket Lab Price Performance

NASDAQ:RKLB traded down $0.08 during midday trading on Friday, reaching $35.60. 7,975,973 shares of the stock traded hands, compared to its average volume of 18,043,493. Rocket Lab Corporation has a 12-month low of $4.20 and a 12-month high of $38.26. The company has a current ratio of 2.08, a quick ratio of 1.72 and a debt-to-equity ratio of 0.97. The business has a 50-day moving average of $27.00 and a two-hundred day moving average of $24.55.

Rocket Lab (NASDAQ:RKLB - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The rocket manufacturer reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.02). Rocket Lab had a negative net margin of 44.32% and a negative return on equity of 48.92%. The business had revenue of $122.57 million for the quarter, compared to analysts' expectations of $120.74 million. During the same quarter in the prior year, the company posted ($0.09) EPS. The business's revenue for the quarter was up 32.1% on a year-over-year basis. Equities research analysts forecast that Rocket Lab Corporation will post -0.38 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on RKLB. Cantor Fitzgerald upped their target price on Rocket Lab from $29.00 to $35.00 and gave the stock an "overweight" rating in a report on Tuesday, June 10th. The Goldman Sachs Group started coverage on shares of Rocket Lab in a report on Monday. They set a "neutral" rating and a $27.00 target price on the stock. Wells Fargo & Company cut their target price on shares of Rocket Lab from $21.00 to $18.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. Morgan Stanley upped their price target on shares of Rocket Lab from $18.00 to $20.00 and gave the stock an "equal weight" rating in a research report on Monday, March 10th. Finally, Needham & Company LLC increased their price objective on shares of Rocket Lab from $28.00 to $32.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Rocket Lab currently has an average rating of "Moderate Buy" and an average price target of $30.40.

Insiders Place Their Bets

In other Rocket Lab news, insider Frank Klein sold 2,546 shares of the firm's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $30.00, for a total value of $76,380.00. Following the completion of the transaction, the insider owned 1,365,826 shares of the company's stock, valued at approximately $40,974,780. This trade represents a 0.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Merline Saintil sold 6,353 shares of the business's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $33.38, for a total transaction of $212,063.14. Following the sale, the director directly owned 419,569 shares in the company, valued at $14,005,213.22. This trade represents a 1.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,130,995 shares of company stock worth $29,686,039 over the last ninety days. Insiders own 13.70% of the company's stock.

Rocket Lab 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.