Intellectus Partners LLC Sells 9,500 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB)

Intellectus Partners LLC decreased its stake in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 13.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 59,702 shares of the rocket manufacturer’s stock after selling 9,500 shares during the period. Intellectus Partners LLC’s holdings in Rocket Lab USA were worth $330,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in RKLB. FNY Investment Advisers LLC bought a new position in Rocket Lab USA in the fourth quarter valued at $34,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Rocket Lab USA during the 3rd quarter valued at about $40,000. Wealthfront Advisers LLC bought a new stake in Rocket Lab USA in the 3rd quarter worth approximately $44,000. CenterBook Partners LP purchased a new stake in Rocket Lab USA in the third quarter worth approximately $44,000. Finally, MQS Management LLC bought a new position in Rocket Lab USA during the third quarter valued at approximately $44,000. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Rocket Lab USA Stock Performance

Shares of NASDAQ:RKLB opened at $3.77 on Monday. The stock’s 50-day moving average is $4.09 and its 200 day moving average is $4.46. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.65 and a current ratio of 2.13. Rocket Lab USA, Inc. has a 1 year low of $3.47 and a 1 year high of $8.05.

Rocket Lab USA (NASDAQ:RKLB) last announced its earnings results on Tuesday, February 27th. The rocket manufacturer reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). The business had revenue of $59.99 million for the quarter, compared to the consensus estimate of $62.90 million. Rocket Lab USA had a negative net margin of 74.64% and a negative return on equity of 30.54%. Rocket Lab USA’s revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.08) EPS. On average, analysts anticipate that Rocket Lab USA, Inc. will post -0.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

RKLB has been the subject of a number of research reports. Wells Fargo & Company cut their price objective on shares of Rocket Lab USA from $5.00 to $4.25 and set an “equal weight” rating for the company in a research note on Thursday, April 4th. Citigroup reaffirmed a “buy” rating and set a $6.00 price objective on shares of Rocket Lab USA in a research note on Monday, February 12th. Finally, KeyCorp began coverage on Rocket Lab USA in a research note on Wednesday, January 17th. They issued an “overweight” rating and a $8.00 target price for the company. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $7.46.

Insider Buying and Selling

In other news, CFO Adam C. Spice sold 67,160 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $4.25, for a total value of $285,430.00. Following the completion of the transaction, the chief financial officer now owns 1,442,206 shares in the company, valued at approximately $6,129,375.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Adam C. Spice sold 67,160 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $4.25, for a total transaction of $285,430.00. Following the sale, the chief financial officer now owns 1,442,206 shares of the company’s stock, valued at $6,129,375.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Arjun Kampani sold 31,394 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $4.25, for a total transaction of $133,424.50. Following the transaction, the general counsel now directly owns 695,147 shares of the company’s stock, valued at approximately $2,954,374.75. The disclosure for this sale can be found here. 15.00% of the stock is owned by insiders.

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.