Rocket Lab USA, Inc. (NASDAQ:RKLB) Shares Sold by Pier 88 Investment Partners LLC

Pier 88 Investment Partners LLC reduced its position in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 60.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,910 shares of the rocket manufacturer’s stock after selling 97,640 shares during the period. Pier 88 Investment Partners LLC’s holdings in Rocket Lab USA were worth $1,628,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of RKLB. Chicago Partners Investment Group LLC lifted its holdings in shares of Rocket Lab USA by 0.4% during the 4th quarter. Chicago Partners Investment Group LLC now owns 79,943 shares of the rocket manufacturer’s stock valued at $2,187,000 after acquiring an additional 334 shares in the last quarter. Wellington Shields & Co. LLC raised its position in Rocket Lab USA by 0.5% in the fourth quarter. Wellington Shields & Co. LLC now owns 74,522 shares of the rocket manufacturer’s stock valued at $1,898,000 after purchasing an additional 383 shares during the period. Signaturefd LLC lifted its stake in shares of Rocket Lab USA by 12.2% during the fourth quarter. Signaturefd LLC now owns 6,014 shares of the rocket manufacturer’s stock worth $153,000 after purchasing an additional 653 shares in the last quarter. CIBC Asset Management Inc boosted its position in shares of Rocket Lab USA by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 15,078 shares of the rocket manufacturer’s stock worth $384,000 after buying an additional 746 shares during the period. Finally, IFP Advisors Inc boosted its position in shares of Rocket Lab USA by 12.3% in the fourth quarter. IFP Advisors Inc now owns 6,885 shares of the rocket manufacturer’s stock worth $175,000 after buying an additional 753 shares during the period. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. KeyCorp reduced their price target on Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Citigroup lowered their price target on shares of Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating for the company in a report on Friday, February 28th. Morgan Stanley boosted their price objective on shares of Rocket Lab USA from $18.00 to $20.00 and gave the stock an “equal weight” rating in a report on Monday, March 10th. Stifel Nicolaus raised their target price on Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Finally, Wells Fargo & Company cut their price target on Rocket Lab USA from $22.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Monday, March 3rd. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.06.

Rocket Lab USA Price Performance

Shares of NASDAQ RKLB opened at $18.62 on Monday. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $8.45 billion, a price-to-earnings ratio of -50.32 and a beta of 2.06. Rocket Lab USA, Inc. has a twelve month low of $3.47 and a twelve month high of $33.34. The business has a 50 day simple moving average of $23.71 and a 200-day simple moving average of $19.74.

Rocket Lab USA (NASDAQ:RKLB) last released its 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). Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. The business had revenue of $132.39 million for the quarter, compared to the consensus estimate of $130.58 million. As a group, equities research analysts expect that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current year.

Insiders Place Their Bets

In other Rocket Lab USA news, insider Frank Klein sold 44,553 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $18.18, for a total value of $809,973.54. Following the sale, the insider now directly owns 1,419,479 shares of the company’s stock, valued at $25,806,128.22. This trade represents a 3.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 13.70% of the stock is currently owned by corporate insiders.

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.