IPG Investment Advisors LLC Trims Holdings in Rocket Lab USA, Inc. (NASDAQ:RKLB)

IPG Investment Advisors LLC lessened its stake in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 52.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,240 shares of the rocket manufacturer’s stock after selling 11,510 shares during the period. IPG Investment Advisors LLC’s holdings in Rocket Lab USA were worth $261,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of RKLB. Citigroup Inc. boosted its holdings in Rocket Lab USA by 46.8% in the third quarter. Citigroup Inc. now owns 691,387 shares of the rocket manufacturer’s stock worth $6,727,000 after purchasing an additional 220,432 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Rocket Lab USA by 22.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer’s stock worth $28,006,000 after buying an additional 532,207 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Rocket Lab USA by 12.2% during the 3rd quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock valued at $80,317,000 after purchasing an additional 898,223 shares during the period. National Bank of Canada FI grew its position in Rocket Lab USA by 149.2% during the third quarter. National Bank of Canada FI now owns 50,408 shares of the rocket manufacturer’s stock valued at $490,000 after buying an additional 30,178 shares during the period. Finally, Nomura Asset Management Co. Ltd. increased its stake in shares of Rocket Lab USA by 22.4% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 227,438 shares of the rocket manufacturer’s stock worth $2,213,000 after purchasing an additional 41,551 shares in the last quarter. 71.78% of the stock is currently owned by institutional investors.

Rocket Lab USA Trading Up 1.1 %

Shares of Rocket Lab USA stock opened at $18.62 on Friday. Rocket Lab USA, Inc. has a twelve month low of $3.47 and a twelve month high of $33.34. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. The business has a 50-day moving average price of $23.71 and a 200-day moving average price of $19.65. The firm has a market cap of $8.45 billion, a price-to-earnings ratio of -50.32 and a beta of 2.06.

Rocket Lab USA (NASDAQ:RKLB) last released its quarterly earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The firm had revenue of $132.39 million for the quarter, compared to analysts’ expectations of $130.58 million. Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. Equities research analysts anticipate that Rocket Lab USA, Inc. will post -0.38 EPS for the current fiscal year.

Insider Activity at Rocket Lab USA

In other news, insider Frank Klein sold 1,835 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $19.93, for a total transaction of $36,571.55. Following the sale, the insider now directly owns 1,417,644 shares in the company, valued at approximately $28,253,644.92. This represents a 0.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 13.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on RKLB shares. Wells Fargo & Company cut their price target on Rocket Lab USA from $22.00 to $21.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. The Goldman Sachs Group raised their target price on shares of Rocket Lab USA from $12.00 to $13.50 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. KeyCorp dropped their price target 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. Citigroup decreased their price objective on shares of Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Finally, TD Cowen upgraded Rocket Lab USA to a “strong-buy” rating in a research note on Monday, February 24th. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $23.06.

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.