SeaCrest Wealth Management LLC Boosts Stake in Rocket Lab USA, Inc. (NASDAQ:RKLB)

SeaCrest Wealth Management LLC increased its holdings in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) by 121.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 65,614 shares of the rocket manufacturer's stock after acquiring an additional 36,017 shares during the quarter. SeaCrest Wealth Management LLC's holdings in Rocket Lab USA were worth $1,173,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Wellington Management Group LLP purchased a new position in Rocket Lab USA in the 4th quarter worth approximately $17,261,000. Van ECK Associates Corp increased its holdings in shares of Rocket Lab USA by 26.9% in the fourth quarter. Van ECK Associates Corp now owns 166,369 shares of the rocket manufacturer's stock valued at $4,237,000 after purchasing an additional 35,293 shares during the last quarter. AlphaCentric Advisors LLC lifted its position in Rocket Lab USA by 66.7% during the fourth quarter. AlphaCentric Advisors LLC now owns 25,000 shares of the rocket manufacturer's stock worth $637,000 after buying an additional 10,000 shares in the last quarter. Stratos Wealth Partners LTD. acquired a new position in Rocket Lab USA during the fourth quarter worth $1,281,000. Finally, Empowered Funds LLC purchased a new stake in Rocket Lab USA in the 4th quarter valued at $288,000. Hedge funds and other institutional investors own 71.78% of the company's stock.

Analyst Ratings Changes

RKLB has been the topic of several analyst reports. Needham & Company LLC lifted their price target on Rocket Lab USA from $28.00 to $32.00 and gave the stock a "buy" rating in a report on Wednesday, May 28th. Stifel Nicolaus raised their price objective on shares of Rocket Lab USA from $29.00 to $34.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. The Goldman Sachs Group lifted their target price on shares of Rocket Lab USA from $14.35 to $16.00 and gave the stock a "neutral" rating in a research note on Monday, May 12th. Roth Capital increased their price target on shares of Rocket Lab USA from $25.00 to $35.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. Finally, Wells Fargo & Company cut their price target on shares of 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. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $25.18.

Rocket Lab USA Stock Performance

Shares of RKLB stock opened at $28.92 on Friday. 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 market cap of $13.12 billion, a P/E ratio of -78.16 and a beta of 2.08. The firm's 50 day moving average price is $22.59 and its 200-day moving average price is $23.65. Rocket Lab USA, Inc. has a one year low of $4.20 and a one year high of $33.34.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last announced its 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). Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. The firm had revenue of $122.57 million during the quarter, compared to analysts' expectations of $120.74 million. During the same period in the previous year, the firm earned ($0.09) EPS. The firm's revenue for the quarter was up 32.1% compared to the same quarter last year. As a group, equities research analysts predict that Rocket Lab USA, Inc. will post -0.38 EPS for the current year.

Insider Activity

In other Rocket Lab USA news, insider Arjun Kampani sold 28,988 shares of the stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $26.66, for a total transaction of $772,820.08. Following the sale, the insider now directly owns 540,618 shares in the company, valued at $14,412,875.88. This represents a 5.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Frank Klein sold 1,818 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $26.51, for a total transaction of $48,195.18. Following the completion of the transaction, the insider now directly owns 1,368,372 shares of the company's stock, valued at $36,275,541.72. This represents a 0.13% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 136,937 shares of company stock valued at $3,285,279. 13.70% of the stock is currently owned by corporate 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.

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