Rocket Lab USA, Inc. (NASDAQ:RKLB) Shares Sold by ARK Investment Management LLC

ARK Investment Management LLC cut its stake in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 11.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,599,814 shares of the rocket manufacturer’s stock after selling 697,259 shares during the period. ARK Investment Management LLC owned 1.13% of Rocket Lab USA worth $54,486,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Wellington Shields & Co. LLC lifted its position in Rocket Lab USA by 3.8% in the 2nd quarter. Wellington Shields & Co. LLC now owns 69,142 shares of the rocket manufacturer’s stock valued at $332,000 after purchasing an additional 2,503 shares during the last quarter. Amalgamated Bank raised its holdings in shares of Rocket Lab USA by 26.7% during the second quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock valued at $58,000 after buying an additional 2,538 shares during the last quarter. 180 Wealth Advisors LLC boosted its position in shares of Rocket Lab USA by 7.5% during the second quarter. 180 Wealth Advisors LLC now owns 40,180 shares of the rocket manufacturer’s stock worth $214,000 after buying an additional 2,807 shares during the period. Lakeridge Wealth Management LLC grew its holdings in Rocket Lab USA by 30.0% in the 3rd quarter. Lakeridge Wealth Management LLC now owns 13,000 shares of the rocket manufacturer’s stock worth $126,000 after buying an additional 3,000 shares in the last quarter. Finally, Verus Capital Partners LLC increased its position in Rocket Lab USA by 11.9% in the 2nd quarter. Verus Capital Partners LLC now owns 33,160 shares of the rocket manufacturer’s stock valued at $159,000 after acquiring an additional 3,525 shares during the period. 71.78% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, General Counsel Arjun Kampani sold 28,563 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total value of $198,798.48. Following the completion of the sale, the general counsel now owns 637,558 shares in the company, valued at $4,437,403.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO Adam C. Spice sold 62,512 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total transaction of $435,083.52. Following the transaction, the chief financial officer now directly owns 1,321,165 shares in the company, valued at $9,195,308.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Arjun Kampani sold 28,563 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total value of $198,798.48. Following the sale, the general counsel now owns 637,558 shares of the company’s stock, valued at approximately $4,437,403.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 130,521 shares of company stock valued at $906,059. Company insiders own 13.70% of the company’s stock.

Rocket Lab USA Trading Up 3.1 %

Shares of RKLB opened at $13.46 on Friday. The business’s 50-day moving average price is $9.15 and its 200 day moving average price is $6.35. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.82 and a quick ratio of 2.43. Rocket Lab USA, Inc. has a 1-year low of $3.47 and a 1-year high of $13.89.

Rocket Lab USA (NASDAQ:RKLB) last released its earnings results on Thursday, August 8th. The rocket manufacturer reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.02. The business had revenue of $106.25 million for the quarter, compared to the consensus estimate of $105.47 million. Rocket Lab USA had a negative net margin of 54.17% and a negative return on equity of 34.12%. The firm’s quarterly revenue was up 71.2% compared to the same quarter last year. During the same period last year, the firm posted ($0.10) earnings per share. On average, analysts expect that Rocket Lab USA, Inc. will post -0.39 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on RKLB. KeyCorp increased their price target on Rocket Lab USA from $11.00 to $12.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Citigroup increased their price objective on shares of Rocket Lab USA from $7.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday. JMP Securities initiated coverage on Rocket Lab USA in a research report on Thursday, September 12th. They issued a “market perform” rating for the company. Morgan Stanley cut Rocket Lab USA from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $8.00 to $6.00 in a research report on Monday, July 15th. Finally, The Goldman Sachs Group upped their price objective on Rocket Lab USA from $4.50 to $5.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Rocket Lab USA presently has an average rating of “Hold” and a consensus target price of $7.75.

About Rocket Lab USA

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.