Amalgamated Bank Increases Position in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Amalgamated Bank lifted its holdings in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 26.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,038 shares of the rocket manufacturer’s stock after buying an additional 2,538 shares during the quarter. Amalgamated Bank’s holdings in Rocket Lab USA were worth $58,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wellington Shields & Co. LLC raised its position in shares of Rocket Lab USA by 3.8% in the second quarter. Wellington Shields & Co. LLC now owns 69,142 shares of the rocket manufacturer’s stock worth $332,000 after buying an additional 2,503 shares in the last quarter. 180 Wealth Advisors LLC increased its position in shares of Rocket Lab USA by 7.5% during the second quarter. 180 Wealth Advisors LLC now owns 40,180 shares of the rocket manufacturer’s stock valued at $214,000 after acquiring an additional 2,807 shares in the last quarter. Verus Capital Partners LLC raised its position in Rocket Lab USA by 11.9% in the 2nd quarter. Verus Capital Partners LLC now owns 33,160 shares of the rocket manufacturer’s stock worth $159,000 after buying an additional 3,525 shares during the last quarter. Advisors Asset Management Inc. raised its stake in Rocket Lab USA by 59.4% during the 1st quarter. Advisors Asset Management Inc. now owns 10,816 shares of the rocket manufacturer’s stock worth $44,000 after acquiring an additional 4,032 shares during the period. Finally, ProShare Advisors LLC increased its stake in Rocket Lab USA by 10.2% in the 1st quarter. ProShare Advisors LLC now owns 50,879 shares of the rocket manufacturer’s stock worth $209,000 after buying an additional 4,713 shares in the last quarter. 71.78% of the stock is currently owned by hedge funds and other institutional investors.

Rocket Lab USA Stock Performance

RKLB opened at $9.23 on Wednesday. The firm’s 50-day moving average price is $6.35 and its 200-day moving average price is $5.04. The company has a market cap of $4.58 billion, a P/E ratio of -25.08 and a beta of 1.27. Rocket Lab USA, Inc. has a 52-week low of $3.47 and a 52-week high of $10.29. The company has a quick ratio of 2.43, a current ratio of 2.82 and a debt-to-equity ratio of 0.90.

Rocket Lab USA (NASDAQ:RKLB) last posted its quarterly earnings data on Thursday, August 8th. The rocket manufacturer reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.02. The company had revenue of $106.25 million during the quarter, compared to analysts’ expectations 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 period in the prior year, the business posted ($0.10) earnings per share. As a group, equities analysts anticipate that Rocket Lab USA, Inc. will post -0.39 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on RKLB shares. Roth Mkm restated a “buy” rating and set a $7.00 price objective on shares of Rocket Lab USA in a research report on Tuesday, June 18th. Cantor Fitzgerald restated an “overweight” rating and set a $7.00 price target on shares of Rocket Lab USA in a report on Monday. KeyCorp lifted their price objective on shares of Rocket Lab USA from $8.00 to $11.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Morgan Stanley lowered shares of Rocket Lab USA from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $8.00 to $6.00 in a report on Monday, July 15th. Finally, JMP Securities assumed coverage on shares of Rocket Lab USA in a research note on Thursday, September 12th. They issued a “market perform” rating for the company. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $6.68.

Insiders Place Their Bets

In other Rocket Lab USA news, Director Michael D. Griffin sold 39,446 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $6.90, for a total value of $272,177.40. Following the sale, the director now owns 42,353 shares of the company’s stock, valued at approximately $292,235.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Rocket Lab USA news, General Counsel Arjun Kampani sold 28,563 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total transaction of $198,798.48. Following the transaction, the general counsel now directly owns 637,558 shares in the company, valued at $4,437,403.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael D. Griffin sold 39,446 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $6.90, for a total transaction of $272,177.40. Following the transaction, the director now owns 42,353 shares of the company’s stock, valued at $292,235.70. The disclosure for this sale can be found here. Insiders sold 130,521 shares of company stock valued at $906,059 in the last three months. 13.70% of the stock is currently owned by insiders.

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.