ARK Investment Management LLC raised its stake in Rocket Lab USA, Inc. (NASDAQ:RKLB – Free Report) by 20.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,829,373 shares of the rocket manufacturer’s stock after purchasing an additional 638,440 shares during the period. ARK Investment Management LLC owned about 0.80% of Rocket Lab USA worth $22,976,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. DNB Asset Management AS lifted its stake in Rocket Lab USA by 20.1% in the second quarter. DNB Asset Management AS now owns 196,279 shares of the rocket manufacturer’s stock worth $1,176,000 after acquiring an additional 32,818 shares during the last quarter. DnB Asset Management AS lifted its position in shares of Rocket Lab USA by 20.1% during the 2nd quarter. DnB Asset Management AS now owns 196,279 shares of the rocket manufacturer’s stock worth $1,176,000 after purchasing an additional 32,818 shares during the last quarter. Atria Wealth Solutions Inc. acquired a new position in shares of Rocket Lab USA during the first quarter worth $47,000. BKA Wealth Consulting Inc. acquired a new stake in Rocket Lab USA in the first quarter valued at $60,000. Finally, JPMorgan Chase & Co. raised its stake in Rocket Lab USA by 68.1% in the first quarter. JPMorgan Chase & Co. now owns 403,232 shares of the rocket manufacturer’s stock valued at $1,629,000 after buying an additional 163,293 shares in the last quarter. Hedge funds and other institutional investors own 54.19% of the company’s stock.
Rocket Lab USA Stock Performance
NASDAQ:RKLB traded down $0.14 during mid-day trading on Friday, reaching $5.12. 13,162,797 shares of the stock were exchanged, compared to its average volume of 3,991,789. The company has a quick ratio of 1.50, a current ratio of 1.83 and a debt-to-equity ratio of 0.03. Rocket Lab USA, Inc. has a 1 year low of $3.48 and a 1 year high of $8.05. The company has a 50 day simple moving average of $6.44 and a 200-day simple moving average of $5.18. The stock has a market capitalization of $2.47 billion, a P/E ratio of -15.03 and a beta of 1.06.
Rocket Lab USA (NASDAQ:RKLB – Get Free Report) last announced its earnings results on Tuesday, August 8th. The rocket manufacturer reported ($0.10) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.10). Rocket Lab USA had a negative net margin of 70.47% and a negative return on equity of 24.98%. The business had revenue of $62.05 million for the quarter, compared to analyst estimates of $61.68 million. Analysts anticipate that Rocket Lab USA, Inc. will post -0.37 earnings per share for the current fiscal year.
Insider Activity at Rocket Lab USA
In other Rocket Lab USA news, insider Arjun Kampani sold 20,675 shares of the stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $5.74, for a total transaction of $118,674.50. Following the completion of the sale, the insider now directly owns 525,390 shares of the company’s stock, valued at approximately $3,015,738.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Adam C. Spice sold 61,377 shares of the business’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $5.74, for a total transaction of $352,303.98. Following the transaction, the chief financial officer now directly owns 1,566,293 shares in the company, valued at $8,990,521.82. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Arjun Kampani sold 20,675 shares of the stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $5.74, for a total transaction of $118,674.50. Following the transaction, the insider now directly owns 525,390 shares of the company’s stock, valued at $3,015,738.60. The disclosure for this sale can be found here. Insiders have sold 3,720,142 shares of company stock worth $20,944,469 in the last quarter. Company insiders own 15.00% of the company’s stock.
Analyst Ratings Changes
RKLB has been the subject of several analyst reports. Citigroup upped their price objective on Rocket Lab USA from $4.55 to $7.40 and gave the stock a “neutral” rating in a research report on Wednesday, August 9th. Wells Fargo & Company upped their price target on Rocket Lab USA from $5.50 to $6.75 and gave the company an “equal weight” rating in a report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $9.16.
Get Our Latest Stock Analysis on Rocket Lab USA
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.
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