ARK Investment Management LLC Reduces Stock Position in Rocket Lab USA, Inc. (NASDAQ:RKLB)

ARK Investment Management LLC lowered its stake in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 1.9% during the 4th quarter, HoldingsChannel reports. The firm owned 4,414,007 shares of the rocket manufacturer’s stock after selling 87,315 shares during the period. ARK Investment Management LLC’s holdings in Rocket Lab USA were worth $24,409,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in RKLB. Vanguard Group Inc. raised its position in Rocket Lab USA by 806.4% in the first quarter. Vanguard Group Inc. now owns 21,373,494 shares of the rocket manufacturer’s stock worth $172,057,000 after acquiring an additional 19,015,363 shares during the period. State Street Corp raised its position in Rocket Lab USA by 1,164.6% in the first quarter. State Street Corp now owns 7,942,133 shares of the rocket manufacturer’s stock worth $63,934,000 after acquiring an additional 7,314,121 shares during the period. BlackRock Inc. raised its position in Rocket Lab USA by 165.6% in the first quarter. BlackRock Inc. now owns 6,444,486 shares of the rocket manufacturer’s stock worth $51,878,000 after acquiring an additional 4,017,797 shares during the period. ArrowMark Colorado Holdings LLC raised its position in Rocket Lab USA by 20.8% in the second quarter. ArrowMark Colorado Holdings LLC now owns 8,591,899 shares of the rocket manufacturer’s stock worth $51,551,000 after acquiring an additional 1,478,505 shares during the period. Finally, Northern Trust Corp raised its position in Rocket Lab USA by 460.0% in the second quarter. Northern Trust Corp now owns 1,759,047 shares of the rocket manufacturer’s stock worth $6,666,000 after acquiring an additional 1,444,907 shares during the period. 71.78% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Rocket Lab USA

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

Analysts Set New Price Targets

Several research firms have weighed in on RKLB. Cantor Fitzgerald reiterated an “overweight” rating and issued a $6.00 price target on shares of Rocket Lab USA in a research report on Friday, December 22nd. Citigroup restated a “buy” rating and set a $6.00 price objective on shares of Rocket Lab USA in a research report on Monday, February 12th. Finally, KeyCorp initiated coverage on shares of Rocket Lab USA in a research report on Wednesday, January 17th. They set an “overweight” rating and a $8.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.57.

Rocket Lab USA Stock Up 2.0 %

Shares of NASDAQ RKLB opened at $4.14 on Thursday. The company has a current ratio of 2.13, a quick ratio of 1.65 and a debt-to-equity ratio of 0.19. The firm’s fifty day moving average is $4.49 and its two-hundred day moving average is $4.61. Rocket Lab USA, Inc. has a 52-week low of $3.62 and a 52-week high of $8.05.

Rocket Lab USA (NASDAQ:RKLB) last announced its quarterly earnings results on Tuesday, February 27th. The rocket manufacturer reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). The company had revenue of $59.99 million during 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%. The business’s revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.08) earnings per share. On average, analysts forecast that Rocket Lab USA, Inc. will post -0.42 earnings per share for the current fiscal year.

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.