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

Verus Capital Partners LLC lessened its position in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 24.8% in the fourth quarter, HoldingsChannel reports. The firm owned 35,581 shares of the rocket manufacturer’s stock after selling 11,729 shares during the quarter. Verus Capital Partners LLC’s holdings in Rocket Lab USA were worth $906,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Mizuho Markets Americas LLC purchased a new stake in Rocket Lab USA in the third quarter worth about $8,930,000. Geode Capital Management LLC boosted its position in shares of 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 worth $80,317,000 after purchasing an additional 898,223 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Rocket Lab USA by 22.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer’s stock worth $28,006,000 after buying an additional 532,207 shares during the last quarter. Ieq Capital LLC bought a new position in Rocket Lab USA during the 4th quarter valued at approximately $8,775,000. Finally, Quadrature Capital Ltd purchased a new position in Rocket Lab USA during the third quarter valued at $2,651,000. 71.78% of the stock is currently owned by institutional investors.

Rocket Lab USA Trading Up 3.1 %

Shares of RKLB stock opened at $20.44 on Friday. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97. Rocket Lab USA, Inc. has a 12-month low of $3.47 and a 12-month high of $33.34. The stock has a market capitalization of $10.22 billion, a P/E ratio of -55.25 and a beta of 1.99. The firm’s 50 day moving average is $26.71 and its 200 day moving average is $17.82.

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

Insider Activity at Rocket Lab USA

In other news, Director Alexander R. Slusky sold 50,000 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 534,675 shares of the company’s stock, valued at $12,297,525. This represents a 8.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Nina Armagno sold 10,000 shares of the stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $23.63, for a total value of $236,300.00. Following the sale, 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 disclosure for this sale can be found here. 13.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Citigroup cut their target price on Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Friday. Wells Fargo & Company increased their price objective on shares of 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. KeyCorp decreased their target price on shares of Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating for the company in a report on Friday. Cantor Fitzgerald increased their price target on shares of Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Finally, TD Cowen upgraded shares of Rocket Lab USA to a “strong-buy” rating in a report on Monday, February 24th. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.61.

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.