Venture Visionary Partners LLC Takes Position in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Venture Visionary Partners LLC acquired a new stake in Rocket Lab USA, Inc. (NASDAQ:RKLB) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 91,024 shares of the rocket manufacturer’s stock, valued at approximately $886,000.

Several other institutional investors and hedge funds have also made changes to their positions in RKLB. Wellington Shields & Co. LLC increased its stake in 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 valued at $332,000 after purchasing an additional 2,503 shares during the last quarter. Amalgamated Bank increased its stake in Rocket Lab USA by 26.7% in the second quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock valued at $58,000 after purchasing an additional 2,538 shares during the last quarter. 180 Wealth Advisors LLC increased its stake in Rocket Lab USA by 7.5% in the second quarter. 180 Wealth Advisors LLC now owns 40,180 shares of the rocket manufacturer’s stock valued at $214,000 after purchasing an additional 2,807 shares during the last quarter. Lakeridge Wealth Management LLC increased its stake in Rocket Lab USA by 30.0% in the third quarter. Lakeridge Wealth Management LLC now owns 13,000 shares of the rocket manufacturer’s stock valued at $126,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Verus Capital Partners LLC increased its stake in Rocket Lab USA by 11.9% in the second quarter. Verus Capital Partners LLC now owns 33,160 shares of the rocket manufacturer’s stock valued at $159,000 after purchasing an additional 3,525 shares during the last quarter. 71.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RKLB has been the subject of several analyst reports. JMP Securities initiated coverage on Rocket Lab USA in a research note on Thursday, September 12th. They set a “market perform” rating for the company. Citigroup upped their price target on Rocket Lab USA from $5.45 to $7.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. KeyCorp upped their price target on 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 Rocket Lab USA from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $8.00 to $6.00 in a research note on Monday, July 15th. Finally, The Goldman Sachs Group upped their price target on Rocket Lab USA from $4.50 to $5.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Rocket Lab USA currently has a consensus rating of “Hold” and an average target price of $6.75.

Insider Activity

In other news, 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 value of $198,798.48. Following the completion of the sale, the general counsel now owns 637,558 shares in the company, valued at approximately $4,437,403.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related 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 completion of the transaction, the director now owns 42,353 shares of the company’s stock, valued at approximately $292,235.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, General Counsel Arjun Kampani sold 28,563 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total value of $198,798.48. Following the completion of the transaction, the general counsel now directly 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. Over the last quarter, insiders sold 130,521 shares of company stock worth $906,059. 13.70% of the stock is currently owned by corporate insiders.

Rocket Lab USA Price Performance

RKLB stock opened at $11.16 on Wednesday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.43 and a current ratio of 2.82. Rocket Lab USA, Inc. has a 1 year low of $3.47 and a 1 year high of $11.52. The firm has a market cap of $5.54 billion, a P/E ratio of -31.88 and a beta of 1.32. The stock has a 50-day simple moving average of $7.93 and a 200-day simple moving average of $5.72.

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

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.