ARK Investment Management LLC Sells 87,315 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB)

ARK Investment Management LLC lessened its stake in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 1.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,414,007 shares of the rocket manufacturer’s stock after selling 87,315 shares during the quarter. ARK Investment Management LLC owned approximately 0.91% of Rocket Lab USA worth $24,409,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Graham Capital Management L.P. bought a new stake in shares of Rocket Lab USA in the 3rd quarter worth approximately $221,000. American Century Companies Inc. raised its holdings in Rocket Lab USA by 12.0% during the 3rd quarter. American Century Companies Inc. now owns 3,701,611 shares of the rocket manufacturer’s stock valued at $16,213,000 after acquiring an additional 396,501 shares during the period. Nomura Asset Management Co. Ltd. raised its holdings in Rocket Lab USA by 13.3% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 256,088 shares of the rocket manufacturer’s stock valued at $1,122,000 after acquiring an additional 29,990 shares during the period. Rafferty Asset Management LLC raised its holdings in Rocket Lab USA by 25.9% during the 3rd quarter. Rafferty Asset Management LLC now owns 83,514 shares of the rocket manufacturer’s stock valued at $366,000 after acquiring an additional 17,181 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC raised its holdings in Rocket Lab USA by 188.6% during the 3rd quarter. J.P. Morgan Private Wealth Advisors LLC now owns 261,395 shares of the rocket manufacturer’s stock valued at $1,145,000 after acquiring an additional 170,830 shares during the period. Institutional investors own 71.78% of the company’s stock.

Rocket Lab USA Price Performance

RKLB opened at $4.14 on Thursday. The company has a fifty day moving average price of $4.49 and a 200-day moving average price of $4.61. 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 one year low of $3.62 and a one 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) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.01). Rocket Lab USA had a negative return on equity of 30.54% and a negative net margin of 74.64%. The company had revenue of $59.99 million during the quarter, compared to analysts’ expectations of $62.90 million. During the same quarter last year, the firm posted ($0.08) earnings per share. The firm’s revenue was up 15.9% on a year-over-year basis. Sell-side analysts anticipate that Rocket Lab USA, Inc. will post -0.42 EPS for the current year.

Insider Buying and Selling

In related news, CFO Adam C. Spice sold 67,160 shares of the company’s 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 in the company, valued at $6,129,375.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Adam C. Spice sold 67,160 shares of the company’s 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 in the company, valued at $6,129,375.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Arjun Kampani sold 31,394 shares of the company’s 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 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 owned by company insiders.

Analyst Ratings Changes

RKLB has been the topic of a number of analyst reports. KeyCorp initiated coverage on shares of Rocket Lab USA in a report on Wednesday, January 17th. They set an “overweight” rating and a $8.00 target price on the stock. Citigroup reissued a “buy” rating and set a $6.00 target price on shares of Rocket Lab USA in a report on Monday, February 12th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $6.00 target price on shares of Rocket Lab USA in a report on Friday, December 22nd. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $7.57.

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.