Rocket Lab Corporation $RKLB Shares Sold by Nikko Asset Management Americas Inc.

Nikko Asset Management Americas Inc. trimmed its holdings in shares of Rocket Lab Corporation (NASDAQ:RKLB) by 1.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 925,924 shares of the rocket manufacturer’s stock after selling 12,598 shares during the period. Nikko Asset Management Americas Inc. owned 0.20% of Rocket Lab worth $33,083,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC grew its position in shares of Rocket Lab by 109.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 796 shares of the rocket manufacturer’s stock valued at $28,000 after buying an additional 416 shares during the last quarter. Atlantic Union Bankshares Corp acquired a new position in Rocket Lab in the second quarter valued at approximately $36,000. Kilter Group LLC bought a new position in shares of Rocket Lab during the second quarter valued at approximately $37,000. ORG Partners LLC raised its position in shares of Rocket Lab by 491.9% during the 2nd quarter. ORG Partners LLC now owns 1,095 shares of the rocket manufacturer’s stock worth $38,000 after purchasing an additional 910 shares during the period. Finally, Golden State Wealth Management LLC lifted its holdings in shares of Rocket Lab by 3,250.0% in the 2nd quarter. Golden State Wealth Management LLC now owns 1,340 shares of the rocket manufacturer’s stock worth $48,000 after purchasing an additional 1,300 shares during the last quarter. 71.78% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. KeyCorp upped their price objective on Rocket Lab from $50.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday, October 17th. Wall Street Zen cut shares of Rocket Lab from a “hold” rating to a “sell” rating in a report on Saturday. Stifel Nicolaus reissued a “buy” rating and set a $75.00 target price (up from $65.00) on shares of Rocket Lab in a research note on Tuesday, November 11th. Roth Capital restated a “buy” rating and issued a $75.00 target price on shares of Rocket Lab in a research report on Tuesday, November 11th. Finally, Citigroup restated a “market perform” rating on shares of Rocket Lab in a research note on Wednesday, November 12th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $58.17.

Rocket Lab Stock Performance

Shares of RKLB opened at $61.49 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.18 and a quick ratio of 2.83. The firm’s 50 day moving average is $54.92 and its 200-day moving average is $46.08. Rocket Lab Corporation has a 12-month low of $14.71 and a 12-month high of $73.97. The stock has a market capitalization of $32.85 billion, a P/E ratio of -161.82 and a beta of 2.20.

Rocket Lab (NASDAQ:RKLB) last released its earnings results on Monday, November 10th. The rocket manufacturer reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.02. The business had revenue of $155.08 million during the quarter, compared to analyst estimates of $152.45 million. Rocket Lab had a negative net margin of 35.64% and a negative return on equity of 27.26%. The business’s quarterly revenue was up 48.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.10) earnings per share. Equities research analysts anticipate that Rocket Lab Corporation will post -0.38 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Peter Beck sold 1,436,442 shares of the business’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $48.75, for a total transaction of $70,026,547.50. Following the sale, the chief executive officer directly owned 2,500,000 shares of the company’s stock, valued at $121,875,000. The trade was a 36.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Frank Klein sold 45,535 shares of the stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $48.97, for a total value of $2,229,848.95. Following the completion of the transaction, the insider owned 1,320,291 shares of the company’s stock, valued at $64,654,650.27. This trade represents a 3.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 5,583,532 shares of company stock worth $274,781,358. Corporate insiders own 11.90% of the company’s stock.

About Rocket Lab

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.