Rocket Lab Corporation $RKLB Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC increased its holdings in shares of Rocket Lab Corporation (NASDAQ:RKLB) by 613.9% in the fourth quarter, Holdings Channel reports. The firm owned 1,570,608 shares of the rocket manufacturer’s stock after acquiring an additional 1,350,602 shares during the period. Hsbc Holdings PLC’s holdings in Rocket Lab were worth $110,666,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Swedbank AB boosted its holdings in Rocket Lab by 8.2% in the 4th quarter. Swedbank AB now owns 509,250 shares of the rocket manufacturer’s stock worth $35,525,000 after acquiring an additional 38,770 shares during the period. Firsthand Capital Management Inc. raised its stake in shares of Rocket Lab by 40.0% during the third quarter. Firsthand Capital Management Inc. now owns 70,000 shares of the rocket manufacturer’s stock valued at $3,354,000 after purchasing an additional 20,000 shares during the period. Swiss National Bank raised its stake in shares of Rocket Lab by 67.7% during the third quarter. Swiss National Bank now owns 1,243,630 shares of the rocket manufacturer’s stock valued at $59,582,000 after purchasing an additional 501,830 shares during the period. Vanguard Group Inc. lifted its position in shares of Rocket Lab by 13.4% during the fourth quarter. Vanguard Group Inc. now owns 47,420,192 shares of the rocket manufacturer’s stock worth $3,308,033,000 after purchasing an additional 5,610,469 shares in the last quarter. Finally, Baillie Gifford & Co. lifted its position in shares of Rocket Lab by 47.2% during the fourth quarter. Baillie Gifford & Co. now owns 17,851,446 shares of the rocket manufacturer’s stock worth $1,245,317,000 after purchasing an additional 5,725,536 shares in the last quarter. 71.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on RKLB shares. TD Cowen raised their price target on shares of Rocket Lab from $90.00 to $120.00 and gave the company a “buy” rating in a report on Friday, May 8th. Needham & Company LLC boosted their price objective on shares of Rocket Lab from $95.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Clear Str raised shares of Rocket Lab to a “strong-buy” rating in a research report on Wednesday, March 18th. BTIG Research restated a “hold” rating on shares of Rocket Lab in a research note on Tuesday, May 12th. Finally, Citizens Jmp lifted their target price on Rocket Lab from $85.00 to $95.00 and gave the stock a “market outperform” rating in a research report on Friday, May 8th. Three analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $102.76.

Rocket Lab News Roundup

Here are the key news stories impacting Rocket Lab this week:

• Positive Sentiment: Rocket Lab is being added to the Nasdaq-100, a move that could bring steady institutional buying from passive funds and ETFs tracking the index. Why Rocket Lab’s Nasdaq-100 Moment Could Change the Story
• Positive Sentiment: The company passed a key SDA review, supporting the credibility of its space systems and defense business expansion. Rocket Lab (RKLB) Passes Key SDA Review As Nasdaq 100 Inclusion Reshapes Its Story
• Positive Sentiment: Recent commentary continues to highlight Rocket Lab’s strong fundamentals, including record quarterly revenue and a large backlog, which support the long-term growth narrative. Rocket Lab (RKLB) Stock Falls 30% Despite Record Q1 Results and Nasdaq-100 Entry
• Neutral Sentiment: Analyst and media commentary continues to frame RKLB as a high-growth space stock with meaningful upside, but also a relatively rich valuation after a sharp run. Price Prediction: Rocket Lab Will Hit $150 on This Date
• Negative Sentiment: SVP Arjun Kampani sold 88,000 shares worth about $9.5 million, and the insider sale has added to profit-taking concerns. Rocket Lab (NASDAQ:RKLB) SVP Sells 88,000 Shares

Rocket Lab Price Performance

RKLB stock opened at $107.24 on Monday. Rocket Lab Corporation has a twelve month low of $27.84 and a twelve month high of $151.00. The company has a current ratio of 4.47, a quick ratio of 4.02 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $62.07 billion, a P/E ratio of -335.12 and a beta of 2.48. The firm has a 50 day simple moving average of $105.58 and a 200-day simple moving average of $83.61.

Rocket Lab (NASDAQ:RKLB) last posted its quarterly earnings results on Thursday, May 7th. The rocket manufacturer reported ($0.07) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.07). Rocket Lab had a negative net margin of 26.87% and a negative return on equity of 11.72%. The firm had revenue of $200.35 million for the quarter, compared to analysts’ expectations of $189.65 million. During the same period in the prior year, the company posted ($0.12) earnings per share. The firm’s quarterly revenue was up 63.4% on a year-over-year basis. On average, equities research analysts predict that Rocket Lab Corporation will post -0.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Marvin Bradford Clevenger sold 3,500 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $146.67, for a total value of $513,345.00. Following the sale, the insider owned 473,975 shares in the company, valued at approximately $69,517,913.25. This represents a 0.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Frank Klein sold 36,860 shares of the stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $147.42, for a total transaction of $5,433,901.20. Following the transaction, the insider directly owned 1,006,987 shares in the company, valued at $148,450,023.54. The trade was a 3.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 573,515 shares of company stock worth $76,412,122. 8.40% of the stock is currently owned by insiders.

Rocket Lab Profile

Rocket Lab is an aerospace company that provides launch services, spacecraft, and space systems for commercial and government customers. The company’s primary launch vehicle is Electron, a small-lift orbital rocket designed to deploy small satellites and rideshare payloads to low Earth orbit. Rocket Lab also develops and manufactures the Rutherford engine, noted for its electric-pump-fed design and additive-manufactured components, which powers Electron and supports the company’s propulsion capabilities.