Chicago Partners Investment Group LLC Sells 14,542 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB)

Chicago Partners Investment Group LLC lessened its position in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 15.4% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 79,609 shares of the rocket manufacturer’s stock after selling 14,542 shares during the period. Chicago Partners Investment Group LLC’s holdings in Rocket Lab USA were worth $775,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Rocket Lab USA by 9.2% in the 1st quarter. Vanguard Group Inc. now owns 29,000,578 shares of the rocket manufacturer’s stock valued at $119,192,000 after purchasing an additional 2,448,789 shares during the period. ARK Investment Management LLC raised its holdings in Rocket Lab USA by 6.6% during the second quarter. ARK Investment Management LLC now owns 6,297,073 shares of the rocket manufacturer’s stock worth $30,226,000 after buying an additional 391,778 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Rocket Lab USA by 11.1% in the second quarter. American Century Companies Inc. now owns 2,856,973 shares of the rocket manufacturer’s stock valued at $13,713,000 after buying an additional 284,360 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Rocket Lab USA by 25.6% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,123,591 shares of the rocket manufacturer’s stock valued at $10,193,000 after buying an additional 432,501 shares during the last quarter. Finally, Tocqueville Asset Management L.P. increased its position in shares of Rocket Lab USA by 217.1% during the first quarter. Tocqueville Asset Management L.P. now owns 1,284,060 shares of the rocket manufacturer’s stock worth $5,277,000 after acquiring an additional 879,160 shares in the last quarter. 71.78% of the stock is owned by institutional investors and hedge funds.

Rocket Lab USA Trading Up 6.7 %

Shares of Rocket Lab USA stock opened at $11.42 on Monday. The firm has a market cap of $5.67 billion, a PE ratio of -32.63 and a beta of 1.29. Rocket Lab USA, Inc. has a 1 year low of $3.47 and a 1 year high of $12.09. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.82 and a quick ratio of 2.43. The stock has a fifty day moving average price of $8.66 and a 200-day moving average price of $6.14.

Rocket Lab USA (NASDAQ:RKLB) last posted its quarterly earnings results on Thursday, August 8th. The rocket manufacturer reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.02. The company had revenue of $106.25 million during the quarter, compared to analyst estimates of $105.47 million. Rocket Lab USA had a negative net margin of 54.17% and a negative return on equity of 34.12%. The firm’s revenue for the quarter was up 71.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.10) earnings per share. Equities research analysts anticipate that Rocket Lab USA, Inc. will post -0.39 EPS for the current year.

Insider Transactions at Rocket Lab USA

In related news, CFO Adam C. Spice sold 62,512 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total value of $435,083.52. Following the transaction, the chief financial officer now owns 1,321,165 shares in the company, valued at approximately $9,195,308.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Adam C. Spice sold 62,512 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total value of $435,083.52. Following the sale, the chief financial officer now directly owns 1,321,165 shares in the company, valued at approximately $9,195,308.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Arjun Kampani sold 28,563 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total transaction of $198,798.48. Following the transaction, the general counsel now owns 637,558 shares of the company’s stock, valued at $4,437,403.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 130,521 shares of company stock worth $906,059 in the last quarter. Insiders own 13.70% of the company’s stock.

Analysts Set New Price Targets

RKLB has been the topic of several recent research reports. Morgan Stanley cut shares of Rocket Lab USA from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $8.00 to $6.00 in a research report on Monday, July 15th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $7.00 target price on shares of Rocket Lab USA in a research report on Monday, September 30th. The Goldman Sachs Group increased their price target on Rocket Lab USA from $4.50 to $5.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. KeyCorp lifted their price objective on shares of Rocket Lab USA from $11.00 to $12.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Finally, Citigroup increased their target price on shares of Rocket Lab USA from $5.45 to $7.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $6.89.

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.