Wellington Shields & Co. LLC Has $4.02 Million Stock Position in Rocket Lab Corporation $RKLB

Wellington Shields & Co. LLC decreased its stake in shares of Rocket Lab Corporation (NASDAQ:RKLB) by 20.7% during the 4th quarter, Holdings Channel reports. The firm owned 57,643 shares of the rocket manufacturer’s stock after selling 15,013 shares during the period. Rocket Lab comprises about 1.0% of Wellington Shields & Co. LLC’s investment portfolio, making the stock its 19th biggest position. Wellington Shields & Co. LLC’s holdings in Rocket Lab were worth $4,021,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Aventura Private Wealth LLC acquired a new position in shares of Rocket Lab during the 4th quarter worth approximately $25,000. UMB Bank n.a. increased its position in shares of Rocket Lab by 352.5% during the 3rd quarter. UMB Bank n.a. now owns 543 shares of the rocket manufacturer’s stock worth $26,000 after purchasing an additional 423 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Rocket Lab by 109.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 796 shares of the rocket manufacturer’s stock worth $28,000 after purchasing an additional 416 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in shares of Rocket Lab during the 4th quarter worth approximately $32,000. Finally, DecisionPoint Financial LLC increased its position in shares of Rocket Lab by 91.1% during the 4th quarter. DecisionPoint Financial LLC now owns 472 shares of the rocket manufacturer’s stock worth $33,000 after purchasing an additional 225 shares during the last quarter. Institutional investors and hedge funds own 71.78% of the company’s stock.

Analyst Upgrades and Downgrades

RKLB has been the topic of several recent analyst reports. Zacks Research lowered Rocket Lab from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 10th. Wall Street Zen raised Rocket Lab from a “sell” rating to a “hold” rating in a research report on Sunday, February 8th. Wells Fargo & Company began coverage on Rocket Lab in a research report on Wednesday, April 1st. They set an “equal weight” rating and a $60.00 price target on the stock. Needham & Company LLC lifted their target price on Rocket Lab from $95.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Finally, BTIG Research reiterated a “hold” rating on shares of Rocket Lab in a research note on Tuesday, May 12th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Rocket Lab has a consensus rating of “Moderate Buy” and a consensus price target of $97.19.

Insider Activity at Rocket Lab

In related news, CFO Adam C. Spice sold 62,744 shares of the business’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $69.59, for a total value of $4,366,354.96. Following the completion of the sale, the chief financial officer directly owned 1,296,824 shares in the company, valued at $90,245,982.16. The trade was a 4.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Peter Beck sold 18,857 shares of the business’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $69.59, for a total value of $1,312,258.63. Following the completion of the sale, the chief executive officer owned 884,085 shares of the company’s stock, valued at $61,523,475.15. This trade represents a 2.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 333,449 shares of company stock worth $28,295,233 in the last three months. 8.40% of the stock is owned by company insiders.

Rocket Lab Stock Performance

Shares of NASDAQ RKLB opened at $135.76 on Tuesday. The company has a current ratio of 4.47, a quick ratio of 4.02 and a debt-to-equity ratio of 0.02. Rocket Lab Corporation has a 12 month low of $24.67 and a 12 month high of $139.76. The stock has a 50 day moving average of $86.19 and a 200-day moving average of $73.80. The company has a market capitalization of $78.57 billion, a P/E ratio of -424.25 and a beta of 2.30.

Rocket Lab (NASDAQ:RKLB) last issued its earnings results on Thursday, May 7th. The rocket manufacturer reported ($0.07) EPS for the quarter, hitting the consensus estimate of ($0.07). Rocket Lab had a negative return on equity of 11.72% and a negative net margin of 26.87%.The company had revenue of $200.35 million during the quarter, compared to the consensus estimate of $189.65 million. During the same period in the previous year, the company posted ($0.12) EPS. The firm’s revenue for the quarter was up 63.4% compared to the same quarter last year. As a group, equities research analysts predict that Rocket Lab Corporation will post -0.29 EPS for the current year.

Rocket Lab Company Profile

Rocket Lab is an aerospace company that provides launch services, spacecraft, and space systems for commercial and government customers. The company’s primary launch vehicle is Electron, a small-lift orbital rocket designed to deploy small satellites and rideshare payloads to low Earth orbit. Rocket Lab also develops and manufactures the Rutherford engine, noted for its electric-pump-fed design and additive-manufactured components, which powers Electron and supports the company’s propulsion capabilities.