Rocket Lab USA, Inc. (NASDAQ:RKLB) Shares Sold by Telemus Capital LLC

Telemus Capital LLC decreased its holdings in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 50.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,000 shares of the rocket manufacturer’s stock after selling 10,000 shares during the period. Telemus Capital LLC’s holdings in Rocket Lab USA were worth $55,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. FNY Investment Advisers LLC purchased a new position in Rocket Lab USA in the 4th quarter valued at approximately $34,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Rocket Lab USA in the 3rd quarter valued at about $40,000. Wealthfront Advisers LLC acquired a new stake in shares of Rocket Lab USA in the 3rd quarter valued at about $44,000. CenterBook Partners LP acquired a new stake in shares of Rocket Lab USA in the 3rd quarter valued at about $44,000. Finally, MQS Management LLC acquired a new stake in shares of Rocket Lab USA in the 3rd quarter valued at about $44,000. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on RKLB. Citigroup reissued a “buy” rating and issued a $6.00 target price on shares of Rocket Lab USA in a research report on Monday, February 12th. KeyCorp began coverage on Rocket Lab USA in a research report on Wednesday, January 17th. They set an “overweight” rating and a $8.00 price objective for the company. Finally, Wells Fargo & Company cut their target price on Rocket Lab USA from $5.00 to $4.25 and set an “equal weight” rating for the company in a research note on Thursday, April 4th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Rocket Lab USA currently has a consensus rating of “Moderate Buy” and an average target price of $7.46.

Insider Buying and Selling at Rocket Lab USA

In other Rocket Lab USA news, General Counsel Arjun Kampani sold 31,394 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $4.25, for a total transaction of $133,424.50. Following the sale, the general counsel now directly owns 695,147 shares of the company’s stock, valued at approximately $2,954,374.75. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Adam C. Spice sold 67,160 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $4.25, for a total value of $285,430.00. Following the transaction, the chief financial officer now directly owns 1,442,206 shares of the company’s stock, valued at $6,129,375.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Arjun Kampani sold 31,394 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $4.25, for a total transaction of $133,424.50. Following the completion of the transaction, the general counsel now directly owns 695,147 shares in the company, valued at $2,954,374.75. The disclosure for this sale can be found here. Company insiders own 15.00% of the company’s stock.

Rocket Lab USA Stock Performance

RKLB opened at $3.68 on Wednesday. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of -9.68 and a beta of 1.17. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.13 and a quick ratio of 1.65. Rocket Lab USA, Inc. has a 1-year low of $3.47 and a 1-year high of $8.05. The business has a 50 day moving average price of $4.16 and a two-hundred day moving average price of $4.49.

Rocket Lab USA (NASDAQ:RKLB) last released its earnings results on Tuesday, February 27th. The rocket manufacturer reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). The firm had revenue of $59.99 million during the quarter, compared to analyst estimates of $62.90 million. Rocket Lab USA had a negative return on equity of 30.54% and a negative net margin of 74.64%. The business’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter last year, the company earned ($0.08) earnings per share. Research analysts predict that Rocket Lab USA, Inc. will post -0.42 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.