Wealth Enhancement Advisory Services LLC Acquires Shares of 209,407 Rocket Lab USA, Inc. (NASDAQ:RKLB)

Wealth Enhancement Advisory Services LLC bought a new position in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 209,407 shares of the rocket manufacturer's stock, valued at approximately $5,334,000.

Several other large investors have also recently added to or reduced their stakes in RKLB. Spectrum Wealth Counsel LLC acquired a new position in shares of Rocket Lab USA during the 4th quarter valued at about $25,000. Sandy Spring Bank purchased a new stake in Rocket Lab USA in the fourth quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. acquired a new position in Rocket Lab USA during the fourth quarter worth approximately $40,000. Quarry LP purchased a new position in Rocket Lab USA during the fourth quarter worth approximately $48,000. Finally, NewEdge Advisors LLC raised its stake in 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 purchasing an additional 1,750 shares during the period. 71.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RKLB. Roth Capital upped their price objective on Rocket Lab USA from $25.00 to $35.00 and gave the stock a "buy" rating in a report on Wednesday, May 28th. Wells Fargo & Company lowered their price target on Rocket Lab USA from $21.00 to $18.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Needham & Company LLC raised their price objective 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 lifted their price objective on Rocket Lab USA from $29.00 to $34.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. Finally, KeyCorp dropped their target price 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 research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $25.18.

Rocket Lab USA Stock Up 0.7%

Shares of NASDAQ:RKLB traded up $0.19 during mid-day trading on Wednesday, hitting $26.91. 11,508,841 shares of the company traded hands, compared to its average volume of 16,366,115. The firm's 50 day simple moving average is $22.04 and its 200 day simple moving average is $23.52. The firm has a market cap of $12.20 billion, a P/E ratio of -72.73 and a beta of 2.04. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58. Rocket Lab USA, Inc. has a 52-week low of $4.20 and a 52-week high of $33.34.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The rocket manufacturer reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $120.74 million. During the same period last year, the business earned ($0.09) EPS. The firm's revenue was up 32.1% compared to the same quarter last year. On average, equities analysts anticipate that Rocket Lab USA, Inc. will post -0.38 EPS for the current year.

Insider Buying and Selling

In related news, insider Arjun Kampani sold 5,277 shares of the stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $29.97, for a total value of $158,151.69. Following the completion of the transaction, the insider now owns 569,606 shares of the company's stock, valued at approximately $17,071,091.82. This represents a 0.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Frank Klein sold 1,835 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $19.93, for a total value of $36,571.55. Following the sale, the insider now owns 1,417,644 shares of the company's stock, valued at approximately $28,253,644.92. This trade represents a 0.13% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 136,937 shares of company stock valued at $3,285,279 in the last quarter. Company insiders own 13.70% of the company's stock.

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.