Versor Investments LP lowered its holdings in Rocket Lab USA, Inc. (NASDAQ:RKLB – Free Report) by 76.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,900 shares of the rocket manufacturer’s stock after selling 126,200 shares during the period. Versor Investments LP’s holdings in Rocket Lab USA were worth $153,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. lifted its position in shares of Rocket Lab USA by 490.1% during the 1st quarter. JPMorgan Chase & Co. now owns 800,962 shares of the rocket manufacturer’s stock valued at $6,447,000 after acquiring an additional 665,221 shares during the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in Rocket Lab USA during the first quarter valued at about $119,000. BlackRock Inc. increased its position in shares of 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 in the last quarter. Vontobel Holding Ltd. acquired a new stake in shares of Rocket Lab USA during the first quarter valued at approximately $138,000. Finally, Blair William & Co. IL raised its stake in Rocket Lab USA by 5.9% during the 1st quarter. Blair William & Co. IL now owns 426,519 shares of the rocket manufacturer’s stock valued at $3,433,000 after purchasing an additional 23,677 shares during the period. 54.58% of the stock is currently owned by institutional investors.
Rocket Lab USA Trading Down 3.4 %
RKLB opened at $6.23 on Friday. The company has a current ratio of 1.83, a quick ratio of 2.72 and a debt-to-equity ratio of 0.03. The stock has a 50-day moving average of $6.21 and a 200-day moving average of $4.98. Rocket Lab USA, Inc. has a 52-week low of $3.48 and a 52-week high of $8.05.
Rocket Lab USA (NASDAQ:RKLB – Get Free Report) last released its quarterly earnings results on Tuesday, May 9th. The rocket manufacturer reported ($0.10) EPS for the quarter, meeting analysts’ consensus estimates of ($0.10). The company had revenue of $54.90 million for the quarter, compared to analyst estimates of $52.56 million. Rocket Lab USA had a negative net margin of 70.47% and a negative return on equity of 24.98%. Equities analysts forecast that Rocket Lab USA, Inc. will post -0.35 earnings per share for the current fiscal year.
Insider Buying and Selling at Rocket Lab USA
In related news, Director Michael D. Griffin sold 50,689 shares of the stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $4.40, for a total transaction of $223,031.60. Following the completion of the sale, the director now owns 88,779 shares in the company, valued at approximately $390,627.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Michael D. Griffin sold 50,689 shares of the company’s stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $4.40, for a total transaction of $223,031.60. Following the completion of the transaction, the director now owns 88,779 shares of the company’s stock, valued at $390,627.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Arjun Kampani sold 22,428 shares of the firm’s stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $4.50, for a total value of $100,926.00. Following the completion of the sale, the insider now owns 546,065 shares of the company’s stock, valued at approximately $2,457,292.50. The disclosure for this sale can be found here. Insiders sold 190,388 shares of company stock worth $877,022 over the last ninety days. Company insiders own 15.00% of the company’s stock.
Analysts Set New Price Targets
Several research firms recently weighed in on RKLB. 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 research report on Wednesday. Citigroup lifted their target price on shares of Rocket Lab USA from $4.55 to $7.40 and gave the company a “neutral” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.91.
Read Our Latest Analysis on RKLB
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.
See Also
Want to see what other hedge funds are holding RKLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rocket Lab USA, Inc. (NASDAQ:RKLB – Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Rocket Lab USA, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Rocket Lab USA wasn’t on the list.
While Rocket Lab USA currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
Looking to generate income with your stock portfolio? Use these ten stocks to generate a safe and reliable source of investment income.
