Susquehanna Fundamental Investments LLC Sells 105,958 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB)

Susquehanna Fundamental Investments LLC decreased its holdings in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) by 61.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 65,434 shares of the rocket manufacturer's stock after selling 105,958 shares during the quarter. Susquehanna Fundamental Investments LLC's holdings in Rocket Lab USA were worth $314,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Rocket Lab USA by 9.2% in the 1st quarter. Vanguard Group Inc. now owns 29,000,578 shares of the rocket manufacturer's stock valued at $119,192,000 after buying an additional 2,448,789 shares in the last quarter. ARK Investment Management LLC raised its holdings in shares of Rocket Lab USA by 6.6% in the 2nd quarter. ARK Investment Management LLC now owns 6,297,073 shares of the rocket manufacturer's stock worth $30,226,000 after buying an additional 391,778 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Rocket Lab USA by 11.1% during the 2nd quarter. American Century Companies Inc. now owns 2,856,973 shares of the rocket manufacturer's stock worth $13,713,000 after buying an additional 284,360 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Rocket Lab USA by 25.6% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,123,591 shares of the rocket manufacturer's stock valued at $10,193,000 after buying an additional 432,501 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. grew its position in Rocket Lab USA by 15.7% in the first quarter. Nikko Asset Management Americas Inc. now owns 1,691,090 shares of the rocket manufacturer's stock valued at $6,917,000 after acquiring an additional 229,512 shares during the period. Institutional investors and hedge funds own 71.78% of the company's stock.

Rocket Lab USA Trading Up 5.9 %

Shares of NASDAQ RKLB traded up $0.55 during midday trading on Friday, reaching $9.80. 10,754,750 shares of the stock were exchanged, compared to its average volume of 9,673,934. Rocket Lab USA, Inc. has a 12 month low of $3.47 and a 12 month high of $10.29. The company has a market capitalization of $4.87 billion, a price-to-earnings ratio of -26.49 and a beta of 1.32. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.82 and a quick ratio of 2.43. The business has a 50-day simple moving average of $6.68 and a two-hundred day simple moving average of $5.19.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last posted its earnings results on Thursday, August 8th. The rocket manufacturer reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.02. The firm had revenue of $106.25 million for the quarter, compared to analyst estimates of $105.47 million. Rocket Lab USA had a negative return on equity of 34.12% and a negative net margin of 54.17%. The company's revenue for the quarter was up 71.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.10) earnings per share. As a group, equities research analysts expect that Rocket Lab USA, Inc. will post -0.39 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on RKLB shares. Citigroup boosted their target price on shares of Rocket Lab USA from $5.45 to $7.00 and gave the company a "buy" rating in a research note on Wednesday, August 14th. Roth Mkm reiterated a "buy" rating and issued a $7.00 price objective on shares of Rocket Lab USA in a research report on Tuesday, June 18th. JMP Securities assumed coverage on Rocket Lab USA in a research note on Thursday, September 12th. They issued a "market perform" rating for the company. Morgan Stanley downgraded Rocket Lab USA from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $8.00 to $6.00 in a report on Monday, July 15th. Finally, BTIG Research started coverage on shares of Rocket Lab USA in a report on Wednesday, June 26th. They issued a "neutral" rating on the stock. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Rocket Lab USA has an average rating of "Hold" and a consensus target price of $6.68.

Insider Buying and Selling

In other news, General Counsel Arjun Kampani sold 28,563 shares of the company's stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total value of $198,798.48. Following the completion of the transaction, the general counsel now owns 637,558 shares in the company, valued at $4,437,403.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Rocket Lab USA news, CFO Adam C. Spice sold 62,512 shares of the business's stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total transaction of $435,083.52. Following the sale, the chief financial officer now directly owns 1,321,165 shares of the company's stock, valued at $9,195,308.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Arjun Kampani sold 28,563 shares of Rocket Lab USA stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total value of $198,798.48. Following the completion of the sale, the general counsel now directly owns 637,558 shares in the company, valued at approximately $4,437,403.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 130,521 shares of company stock valued at $906,059. 13.70% of the stock is owned by corporate insiders.

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 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.