Nomura Asset Management Co. Ltd. Sells 87,171 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB)

Nomura Asset Management Co. Ltd. lowered its position in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 38.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 140,267 shares of the rocket manufacturer’s stock after selling 87,171 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Rocket Lab USA were worth $3,573,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC raised its stake in 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. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Rocket Lab USA in the fourth quarter valued at approximately $21,896,000. Vanguard Group Inc. boosted its stake in shares of Rocket Lab USA by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 36,195,577 shares of the rocket manufacturer’s stock valued at $921,901,000 after buying an additional 668,093 shares during the period. Charles Schwab Investment Management Inc. grew its position in Rocket Lab USA by 22.7% during the third 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 in the last quarter. Finally, Prudential Financial Inc. increased its stake in Rocket Lab USA by 94.8% during the 4th quarter. Prudential Financial Inc. now owns 808,900 shares of the rocket manufacturer’s stock worth $20,603,000 after acquiring an additional 393,730 shares during the period. Institutional investors own 71.78% of the company’s stock.

Rocket Lab USA Stock Up 1.5 %

Shares of NASDAQ:RKLB opened at $18.15 on Wednesday. Rocket Lab USA, Inc. has a 52-week low of $3.47 and a 52-week high of $33.34. The company has a market capitalization of $8.23 billion, a PE ratio of -49.05 and a beta of 2.06. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58. The company has a fifty day moving average of $23.33 and a 200-day moving average of $19.89.

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

Insider Buying and Selling at Rocket Lab USA

In related news, insider Frank Klein sold 1,835 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $19.93, for a total transaction of $36,571.55. Following the sale, the insider now 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 13.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Wells Fargo & Company cut their target price on Rocket Lab USA from $22.00 to $21.00 and set an “equal weight” rating for the company in a research report on Monday, March 3rd. KeyCorp reduced their price objective on shares of Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Stifel Nicolaus boosted their target price on shares of Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. TD Cowen upgraded shares of Rocket Lab USA to a “strong-buy” rating in a research report on Monday, February 24th. Finally, Citigroup lowered their price objective on shares of Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $23.06.

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.