Telemus Capital LLC Reduces Stake in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Telemus Capital LLC reduced its holdings in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 50.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,000 shares of the rocket manufacturer’s stock after selling 10,000 shares during the quarter. Telemus Capital LLC’s holdings in Rocket Lab USA were worth $55,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of RKLB. Vanguard Group Inc. increased its holdings in shares of Rocket Lab USA by 4.7% in the 3rd quarter. Vanguard Group Inc. now owns 26,100,419 shares of the rocket manufacturer’s stock worth $114,320,000 after buying an additional 1,167,403 shares during the last quarter. ARK Investment Management LLC grew its holdings in shares of Rocket Lab USA by 17.5% during the 3rd quarter. ARK Investment Management LLC now owns 4,501,322 shares of the rocket manufacturer’s stock valued at $19,716,000 after purchasing an additional 671,949 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Rocket Lab USA by 12.0% during the 3rd quarter. American Century Companies Inc. now owns 3,701,611 shares of the rocket manufacturer’s stock valued at $16,213,000 after purchasing an additional 396,501 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Rocket Lab USA by 15.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,057,607 shares of the rocket manufacturer’s stock valued at $9,012,000 after buying an additional 269,388 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in Rocket Lab USA by 10.4% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,602,391 shares of the rocket manufacturer’s stock valued at $7,018,000 after buying an additional 151,005 shares during the period. 71.78% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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 in the company, valued at approximately $2,954,374.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 in the company, valued at approximately $2,954,374.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Adam C. Spice sold 67,160 shares of the business’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 $285,430.00. Following the sale, the chief financial officer now owns 1,442,206 shares in the company, valued at $6,129,375.50. The disclosure for this sale can be found here. Insiders own 15.00% of the company’s stock.

Rocket Lab USA Stock Performance

Shares of Rocket Lab USA stock opened at $3.68 on Wednesday. The firm’s fifty day simple moving average is $4.16 and its 200-day simple moving average is $4.49. The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of -9.68 and a beta of 1.17. Rocket Lab USA, Inc. has a 12 month low of $3.47 and a 12 month high of $8.05. 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 (NASDAQ:RKLB) last announced its quarterly earnings data on Tuesday, February 27th. The rocket manufacturer reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate 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 net margin of 74.64% and a negative return on equity of 30.54%. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.08) earnings per share. As a group, equities analysts forecast that Rocket Lab USA, Inc. will post -0.42 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Citigroup reaffirmed 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 started coverage on shares of Rocket Lab USA in a report on Wednesday, January 17th. They issued an “overweight” rating and a $8.00 price objective on the stock. Finally, Wells Fargo & Company lowered their price target on shares of Rocket Lab USA from $5.00 to $4.25 and set an “equal weight” rating on the stock in a report on Thursday, April 4th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.46.

About Rocket Lab USA

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.