Raymond James Financial Services Advisors Inc. Grows Position in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Raymond James Financial Services Advisors Inc. boosted its position in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 26.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 86,195 shares of the rocket manufacturer’s stock after purchasing an additional 17,833 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Rocket Lab USA were worth $477,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in RKLB. JPMorgan Chase & Co. raised its holdings in Rocket Lab USA by 490.1% in the first quarter. JPMorgan Chase & Co. now owns 800,962 shares of the rocket manufacturer’s stock worth $6,447,000 after purchasing an additional 665,221 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Rocket Lab USA during the first quarter valued at about $119,000. BlackRock Inc. increased its holdings in shares of Rocket Lab USA by 165.6% during the first quarter. BlackRock Inc. now owns 6,444,486 shares of the rocket manufacturer’s stock valued at $51,878,000 after acquiring an additional 4,017,797 shares in the last quarter. Vontobel Holding Ltd. acquired a new position in shares of Rocket Lab USA during the first quarter valued at about $138,000. Finally, Blair William & Co. IL increased its holdings in shares of Rocket Lab USA by 5.9% during the first quarter. Blair William & Co. IL now owns 426,519 shares of the rocket manufacturer’s stock valued at $3,433,000 after acquiring an additional 23,677 shares in the last quarter. 71.78% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Adam C. Spice sold 67,160 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 1,442,206 shares in the company, valued at approximately $6,129,375.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, General Counsel Arjun Kampani sold 31,394 shares of the stock in a transaction that occurred 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 transaction, the general counsel now 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 at this link. Also, CFO Adam C. Spice sold 67,160 shares of the 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 completion of 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 disclosure for this sale can be found here. Insiders own 15.00% of the company’s stock.

Rocket Lab USA Stock Performance

Rocket Lab USA stock opened at $3.55 on Friday. Rocket Lab USA, Inc. has a 12 month low of $3.47 and a 12 month high of $8.05. The firm has a market cap of $1.74 billion, a PE ratio of -9.34 and a beta of 1.17. The company has a current ratio of 2.13, a quick ratio of 1.65 and a debt-to-equity ratio of 0.19. The stock’s 50 day simple moving average is $4.20 and its two-hundred day simple moving average is $4.50.

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on RKLB shares. Wells Fargo & Company cut their price objective 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. Cantor Fitzgerald reiterated an “overweight” rating and issued a $6.00 price target on shares of Rocket Lab USA in a report on Friday, December 22nd. Citigroup reiterated a “buy” rating and issued a $6.00 price target on shares of Rocket Lab USA in a report on Monday, February 12th. Finally, KeyCorp initiated coverage on Rocket Lab USA in a research report on Wednesday, January 17th. They issued an “overweight” rating and a $8.00 price objective on the stock. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.46.

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.