Van ECK Associates Corp Makes New $264,000 Investment in Rocket Lab USA, Inc. (NASDAQ:RKLB)
Van ECK Associates Corp purchased a new position in Rocket Lab USA, Inc. (NASDAQ:RKLB – Get Rating) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 70,039 shares of the rocket manufacturer’s stock, valued at approximately $264,000.
A number of other hedge funds also recently bought and sold shares of RKLB. Point72 Hong Kong Ltd purchased a new stake in Rocket Lab USA in the second quarter worth about $27,000. Ieq Capital LLC purchased a new stake in shares of Rocket Lab USA in the fourth quarter worth approximately $38,000. Capstone Investment Advisors LLC purchased a new position in Rocket Lab USA during the 3rd quarter worth $41,000. Gerber Kawasaki Wealth & Investment Management purchased a new position in Rocket Lab USA during the 4th quarter worth $41,000. Finally, SG Americas Securities LLC purchased a new position in Rocket Lab USA during the 4th quarter worth $42,000. Hedge funds and other institutional investors own 69.11% of the company’s stock.
Rocket Lab USA Trading Down 1.4 %
Shares of RKLB stock opened at $4.28 on Wednesday. The business has a 50-day simple moving average of $3.96 and a 200-day simple moving average of $4.33. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.22 and a quick ratio of 2.72. Rocket Lab USA, Inc. has a 52-week low of $3.48 and a 52-week high of $7.29.
Rocket Lab USA (NASDAQ:RKLB – Get Rating) last released its quarterly earnings results on Tuesday, February 28th. The rocket manufacturer reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02). The business had revenue of $51.76 million during the quarter, compared to analyst estimates of $46.76 million. Rocket Lab USA had a negative return on equity of 22.79% and a negative net margin of 68.77%. Research analysts predict that Rocket Lab USA, Inc. will post -0.34 earnings per share for the current year.
Insider Buying and Selling
In other Rocket Lab USA news, CFO Adam C. Spice sold 64,189 shares of the stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $4.23, for a total transaction of $271,519.47. Following the completion of the transaction, the chief financial officer now owns 1,686,168 shares of the company’s stock, valued at $7,132,490.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Adam C. Spice sold 64,189 shares of the stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $4.23, for a total value of $271,519.47. Following the completion of the transaction, the chief financial officer now directly owns 1,686,168 shares in the company, valued at $7,132,490.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Arjun Kampani sold 22,532 shares of the company’s stock in a transaction on Thursday, March 9th. The stock was sold at an average price of $4.23, for a total value of $95,310.36. Following the transaction, the insider now owns 568,493 shares in the company, valued at $2,404,725.39. The disclosure for this sale can be found here. 15.30% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on the company. Citigroup assumed coverage on Rocket Lab USA in a research note on Tuesday, April 18th. They set a “neutral” rating and a $4.55 target price on the stock. Deutsche Bank Aktiengesellschaft dropped their target price on Rocket Lab USA from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, March 7th. Finally, Wells Fargo & Company dropped their target price on Rocket Lab USA from $5.75 to $5.50 and set an “equal weight” rating on the stock in a research note on Monday, March 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Rocket Lab USA has a consensus rating of “Moderate Buy” and an average price target of $9.21.
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 engineering and 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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