Main Management ETF Advisors LLC Has $3.77 Million Stock Position in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Main Management ETF Advisors LLC cut its holdings in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 8.2% in the fourth quarter, HoldingsChannel reports. The fund owned 148,096 shares of the rocket manufacturer’s stock after selling 13,312 shares during the quarter. Rocket Lab USA accounts for 0.2% of Main Management ETF Advisors LLC’s portfolio, making the stock its 28th biggest holding. Main Management ETF Advisors LLC’s holdings in Rocket Lab USA were worth $3,772,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of RKLB. Udine Wealth Management Inc. acquired a new position in shares of Rocket Lab USA in the fourth quarter worth $1,342,000. Van ECK Associates Corp grew its stake in Rocket Lab USA by 26.9% in the fourth quarter. Van ECK Associates Corp now owns 166,369 shares of the rocket manufacturer’s stock valued at $4,237,000 after purchasing an additional 35,293 shares in the last quarter. AlphaCentric Advisors LLC increased its position in Rocket Lab USA by 66.7% in the 4th quarter. AlphaCentric Advisors LLC now owns 25,000 shares of the rocket manufacturer’s stock worth $637,000 after purchasing an additional 10,000 shares during the last quarter. Stratos Wealth Partners LTD. purchased a new stake in shares of Rocket Lab USA during the 4th quarter worth about $1,281,000. Finally, Empowered Funds LLC purchased a new stake in shares of Rocket Lab USA during the 4th quarter worth about $288,000. 71.78% of the stock is currently owned by institutional investors and hedge funds.

Rocket Lab USA Stock Up 2.7%

Rocket Lab USA stock opened at $21.83 on Wednesday. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16. Rocket Lab USA, Inc. has a fifty-two week low of $4.15 and a fifty-two week high of $33.34. The firm has a fifty day moving average price of $19.77 and a two-hundred day moving average price of $22.20. The firm has a market cap of $9.90 billion, a price-to-earnings ratio of -59.00 and a beta of 2.04.

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

Insider Transactions at Rocket Lab USA

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

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on RKLB shares. The Goldman Sachs Group boosted their price target on Rocket Lab USA from $14.35 to $16.00 and gave the company a “neutral” rating in a research note on Monday. Wells Fargo & Company dropped their price target on shares of Rocket Lab USA from $21.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 8th. KeyCorp cut their price target on shares of Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Needham & Company LLC reiterated a “buy” rating and issued a $28.00 price objective on shares of Rocket Lab USA in a report on Tuesday. Finally, Citigroup cut their target price on Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $23.50.

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.