Baird Financial Group Inc. Has $4.78 Million Stock Holdings in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Baird Financial Group Inc. reduced its stake in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 53.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 187,729 shares of the rocket manufacturer’s stock after selling 214,301 shares during the period. Baird Financial Group Inc.’s holdings in Rocket Lab USA were worth $4,781,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the stock. Spectrum Wealth Counsel LLC bought a new stake in Rocket Lab USA in the 4th quarter valued at $25,000. Sandy Spring Bank acquired a new stake in shares of Rocket Lab USA during the fourth quarter worth $26,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Rocket Lab USA in the fourth quarter valued at about $40,000. Quarry LP acquired a new position in shares of Rocket Lab USA in the fourth quarter valued at about $48,000. Finally, NewEdge Advisors LLC increased its position in Rocket Lab USA by 1,000.0% during the fourth quarter. NewEdge Advisors LLC now owns 1,925 shares of the rocket manufacturer’s stock worth $49,000 after acquiring an additional 1,750 shares during the period. 71.78% of the stock is owned by institutional investors.

Rocket Lab USA Stock Performance

Rocket Lab USA stock opened at $20.56 on Friday. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. The stock has a market cap of $9.32 billion, a PE ratio of -55.57 and a beta of 2.04. Rocket Lab USA, Inc. has a 12-month low of $3.98 and a 12-month high of $33.34. The business’s 50-day moving average price is $19.69 and its two-hundred day moving average price is $21.98.

Rocket Lab USA (NASDAQ:RKLB) last announced its quarterly earnings results on Thursday, May 8th. The rocket manufacturer reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.02). The company had revenue of $122.57 million for the quarter, compared to the consensus estimate of $120.74 million. Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. The company’s revenue for the quarter was up 32.1% compared to the same quarter last year. During the same period last year, the firm posted ($0.09) earnings per share. As a group, analysts expect that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on RKLB. KeyCorp cut their price objective on shares of Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Citigroup cut their price target on Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Wells Fargo & Company reduced their price target on Rocket Lab USA from $21.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 8th. TD Cowen raised Rocket Lab USA to a “strong-buy” rating in a report on Monday, February 24th. Finally, Needham & Company LLC started coverage on Rocket Lab USA in a report on Friday, April 25th. They set a “buy” rating and a $28.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.25.

Insider Transactions at Rocket Lab USA

In related news, insider Frank Klein sold 44,553 shares of the business’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $18.18, for a total transaction of $809,973.54. Following the sale, the insider now owns 1,419,479 shares in the company, valued at $25,806,128.22. The trade was a 3.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 13.70% of the company’s stock.

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.