VK Services LLC Has $836.02 Million Stock Position in Rocket Lab USA, Inc. (NASDAQ:RKLB)

VK Services LLC reduced its holdings in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) by 13.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,823,617 shares of the rocket manufacturer's stock after selling 5,000,000 shares during the quarter. Rocket Lab USA makes up approximately 98.5% of VK Services LLC's holdings, making the stock its biggest position. VK Services LLC owned approximately 6.57% of Rocket Lab USA worth $836,018,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Voloridge Investment Management LLC acquired a new stake in Rocket Lab USA during the fourth quarter worth approximately $22,331,000. Vident Advisory LLC increased its stake in shares of Rocket Lab USA by 8.8% during the fourth quarter. Vident Advisory LLC now owns 203,125 shares of the rocket manufacturer's stock worth $5,174,000 after purchasing an additional 16,396 shares during the period. Soviero Asset Management LP bought a new stake in Rocket Lab USA in the 4th quarter valued at $764,000. Two Sigma Advisers LP acquired a new position in Rocket Lab USA in the 4th quarter valued at $72,623,000. Finally, Two Sigma Investments LP acquired a new position in Rocket Lab USA in the 4th quarter valued at $47,074,000. Institutional investors and hedge funds own 71.78% of the company's stock.

Rocket Lab USA Price Performance

Shares of RKLB stock traded up $0.65 on Thursday, hitting $25.82. 18,591,477 shares of the company's stock were exchanged, compared to its average volume of 16,070,865. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16. Rocket Lab USA, Inc. has a 12 month low of $4.15 and a 12 month high of $33.34. The stock has a market cap of $11.71 billion, a P/E ratio of -69.78 and a beta of 2.04. The company has a 50 day moving average of $20.64 and a 200 day moving average of $22.71.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The rocket manufacturer reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.02). Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. The business had revenue of $122.57 million for the quarter, compared to the consensus estimate of $120.74 million. During the same quarter in the prior year, the company earned ($0.09) earnings per share. Rocket Lab USA's quarterly revenue was up 32.1% compared to the same quarter last year. On average, equities research analysts predict that Rocket Lab USA, Inc. will post -0.38 EPS for the current year.

Insider Buying and Selling

In related news, insider Frank Klein sold 1,835 shares of the company's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $19.93, for a total transaction of $36,571.55. Following the completion of the sale, the insider now directly owns 1,417,644 shares in the company, valued at $28,253,644.92. This represents a 0.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 13.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have commented on RKLB. Needham & Company LLC reaffirmed a "buy" rating and issued a $28.00 price objective on shares of Rocket Lab USA in a report on Tuesday, May 13th. Morgan Stanley upped their price objective on Rocket Lab USA from $18.00 to $20.00 and gave the company an "equal weight" rating in a report on Monday, March 10th. The Goldman Sachs Group increased their target price on Rocket Lab USA from $14.35 to $16.00 and gave the stock a "neutral" rating in a report on Monday, May 12th. Wells Fargo & Company reduced their target price on Rocket Lab USA from $21.00 to $18.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Finally, TD Cowen raised Rocket Lab USA to a "strong-buy" rating in a report on Monday, February 24th. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $23.50.

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.