Penserra Capital Management LLC lessened its stake in Rocket Lab USA, Inc. (NASDAQ:RKLB – Free Report) by 10.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 605,964 shares of the rocket manufacturer’s stock after selling 69,628 shares during the period. Penserra Capital Management LLC owned about 0.13% of Rocket Lab USA worth $2,448,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd acquired a new position in shares of Rocket Lab USA in the second quarter worth $27,000. IFP Advisors Inc grew its stake in shares of Rocket Lab USA by 49.8% in the fourth quarter. IFP Advisors Inc now owns 7,819 shares of the rocket manufacturer’s stock worth $81,000 after acquiring an additional 2,600 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Rocket Lab USA in the first quarter worth $38,000. Ieq Capital LLC acquired a new position in shares of Rocket Lab USA in the fourth quarter worth $38,000. Finally, Cresset Asset Management LLC acquired a new position in shares of Rocket Lab USA in the first quarter worth $82,000. Institutional investors and hedge funds own 54.58% of the company’s stock.
Rocket Lab USA Stock Up 2.3 %
Shares of NASDAQ:RKLB opened at $5.73 on Friday. The company’s fifty day moving average price is $4.97 and its 200 day moving average price is $4.54. Rocket Lab USA, Inc. has a 12 month low of $3.48 and a 12 month high of $7.29. The company has a current ratio of 3.22, a quick ratio of 2.72 and a debt-to-equity ratio of 0.18.
Rocket Lab USA (NASDAQ:RKLB – Free Report) last announced its quarterly earnings results on Tuesday, May 9th. The rocket manufacturer reported ($0.10) EPS for the quarter, hitting the consensus estimate of ($0.10). Rocket Lab USA had a negative net margin of 68.77% and a negative return on equity of 22.79%. The firm had revenue of $54.90 million for the quarter, compared to analyst estimates of $52.56 million. On average, equities research analysts anticipate that Rocket Lab USA, Inc. will post -0.35 EPS for the current fiscal year.
Analysts Set New Price Targets
Separately, Citigroup began coverage on shares of Rocket Lab USA in a research note on Tuesday, April 18th. They issued a “neutral” rating and a $4.55 price target for the company. 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 stock. According to MarketBeat.com, Rocket Lab USA currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.45.
Insider Buying and Selling
In related news, CFO Adam C. Spice sold 66,582 shares of Rocket Lab USA stock in a transaction on Friday, May 26th. The shares were sold at an average price of $4.50, for a total transaction of $299,619.00. Following the sale, the chief financial officer now directly owns 1,619,586 shares in the company, valued at approximately $7,288,137. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Rocket Lab USA news, CFO Adam C. Spice sold 66,582 shares of Rocket Lab USA stock in a transaction on Friday, May 26th. The shares were sold at an average price of $4.50, for a total value of $299,619.00. Following the transaction, the chief financial officer now directly owns 1,619,586 shares in the company, valued at $7,288,137. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael D. Griffin sold 50,689 shares of Rocket Lab USA stock in a transaction on 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 in the company, valued at $390,627.60. The disclosure for this sale can be found here. Insiders have sold 190,388 shares of company stock worth $877,022 in the last ninety days. 15.00% of the stock is owned by corporate insiders.
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.
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