Verus Capital Partners LLC Trims Stock Holdings in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Verus Capital Partners LLC lowered its stake in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 24.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,581 shares of the rocket manufacturer’s stock after selling 11,729 shares during the period. Verus Capital Partners LLC’s holdings in Rocket Lab USA were worth $906,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in RKLB. Geode Capital Management LLC boosted its holdings in Rocket Lab USA by 12.2% in the 3rd quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock valued at $80,317,000 after purchasing an additional 898,223 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Rocket Lab USA by 22.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer’s stock valued at $28,006,000 after buying an additional 532,207 shares during the period. Bank of New York Mellon Corp grew its position in Rocket Lab USA by 2.6% during the fourth quarter. Bank of New York Mellon Corp now owns 1,121,024 shares of the rocket manufacturer’s stock worth $28,552,000 after buying an additional 28,618 shares in the last quarter. Mizuho Markets Americas LLC bought a new position in Rocket Lab USA in the 3rd quarter worth about $8,930,000. Finally, Citigroup Inc. boosted its position in shares of Rocket Lab USA by 46.8% during the 3rd quarter. Citigroup Inc. now owns 691,387 shares of the rocket manufacturer’s stock valued at $6,727,000 after acquiring an additional 220,432 shares during the last quarter. 71.78% of the stock is owned by institutional investors.

Rocket Lab USA Stock Performance

Shares of RKLB stock opened at $20.44 on Friday. The company has a market capitalization of $10.22 billion, a P/E ratio of -55.25 and a beta of 1.99. Rocket Lab USA, Inc. has a fifty-two week low of $3.47 and a fifty-two week high of $33.34. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58. The stock has a 50 day moving average price of $26.71 and a two-hundred day moving average price of $17.82.

Rocket Lab USA (NASDAQ:RKLB) last posted its quarterly earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). The firm had revenue of $132.39 million for the quarter, compared to the consensus estimate of $130.58 million. Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. Analysts expect that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current year.

Insider Transactions at Rocket Lab USA

In other Rocket Lab USA news, Director Nina Armagno sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $23.63, for a total transaction of $236,300.00. Following the completion of the transaction, the director now owns 132,294 shares of the company’s stock, valued at $3,126,107.22. This represents a 7.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Alexander R. Slusky sold 50,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $23.00, for a total value of $1,150,000.00. Following the completion of the sale, the director now owns 534,675 shares of the company’s stock, valued at approximately $12,297,525. This trade represents a 8.55 % decrease in their position. The disclosure for this sale can be found here. 13.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on RKLB shares. TD Cowen upgraded shares of Rocket Lab USA to a “strong-buy” rating in a research report on Monday, February 24th. Bank of America upped their target price on shares of Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Wells Fargo & Company raised their price target on Rocket Lab USA from $13.50 to $22.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 11th. The Goldman Sachs Group increased their price objective on Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a research report on Thursday, January 16th. Finally, Citigroup dropped their target price on Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating for the company in a research report on Friday. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $21.61.

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.