Brighton Jones LLC Sells 37,813 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB)

Brighton Jones LLC lessened its stake in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 50.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 36,618 shares of the rocket manufacturer’s stock after selling 37,813 shares during the period. Brighton Jones LLC’s holdings in Rocket Lab USA were worth $356,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Advisors Asset Management Inc. boosted its position in shares of 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 valued at $44,000 after purchasing an additional 4,032 shares in the last quarter. International Assets Investment Management LLC bought a new position in Rocket Lab USA in the second quarter worth approximately $46,000. Baxter Bros Inc. bought a new position in Rocket Lab USA in the second quarter worth approximately $48,000. Amalgamated Bank boosted its holdings in Rocket Lab USA by 26.7% in the second quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock worth $58,000 after acquiring an additional 2,538 shares in the last quarter. Finally, CIBC Asset Management Inc bought a new position in Rocket Lab USA in the second quarter worth approximately $67,000. Institutional investors own 71.78% of the company’s stock.

Rocket Lab USA Stock Performance

Shares of Rocket Lab USA stock opened at $11.18 on Friday. The company has a market cap of $5.55 billion, a PE ratio of -31.94 and a beta of 1.32. Rocket Lab USA, Inc. has a 52 week low of $3.47 and a 52 week high of $12.09. The business has a 50 day moving average price of $8.24 and a 200-day moving average price of $5.84. 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 issued its quarterly earnings data on Thursday, August 8th. The rocket manufacturer reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.02. The firm had revenue of $106.25 million during the quarter, compared to the consensus estimate of $105.47 million. Rocket Lab USA had a negative return on equity of 34.12% and a negative net margin of 54.17%. The company’s quarterly revenue was up 71.2% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.10) earnings per share. Equities analysts anticipate that Rocket Lab USA, Inc. will post -0.39 earnings per share for the current fiscal year.

Insider Activity at Rocket Lab USA

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

Analyst Ratings Changes

RKLB has been the topic of several recent research reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $7.00 price target on shares of Rocket Lab USA in a report on Monday, September 30th. Citigroup increased their price target on Rocket Lab USA from $5.45 to $7.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Morgan Stanley lowered Rocket Lab USA from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $8.00 to $6.00 in a report on Monday, July 15th. JMP Securities started coverage on Rocket Lab USA in a report on Thursday, September 12th. They issued a “market perform” rating on the stock. Finally, The Goldman Sachs Group increased their price objective 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 research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $6.89.

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.