Nikko Asset Management Americas Inc. Has $26.53 Million Position in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Nikko Asset Management Americas Inc. lowered its stake in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 48.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,042,227 shares of the rocket manufacturer’s stock after selling 994,467 shares during the quarter. Nikko Asset Management Americas Inc.’s holdings in Rocket Lab USA were worth $26,525,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of RKLB. GSA Capital Partners LLP acquired a new stake in shares of Rocket Lab USA in the third quarter valued at approximately $139,000. Victory Capital Management Inc. increased its holdings in shares of Rocket Lab USA by 4.4% in the third quarter. Victory Capital Management Inc. now owns 40,587 shares of the rocket manufacturer’s stock valued at $395,000 after purchasing an additional 1,709 shares in the last quarter. Schneider Downs Wealth Management Advisors LP acquired a new stake in shares of Rocket Lab USA in the third quarter valued at approximately $107,000. Thompson Davis & CO. Inc. acquired a new stake in shares of Rocket Lab USA in the third quarter valued at approximately $128,000. Finally, Advisors Asset Management Inc. increased its holdings in shares of Rocket Lab USA by 28.7% in the third quarter. Advisors Asset Management Inc. now owns 14,438 shares of the rocket manufacturer’s stock valued at $140,000 after purchasing an additional 3,220 shares in the last quarter. Institutional investors and hedge funds own 71.78% of the company’s stock.

Rocket Lab USA Trading Up 7.1 %

Shares of NASDAQ RKLB opened at $18.81 on Monday. The company’s fifty day moving average is $25.10 and its 200-day moving average is $18.84. The stock has a market cap of $8.53 billion, a price-to-earnings ratio of -50.84 and a beta of 2.06. Rocket Lab USA, Inc. has a twelve month low of $3.47 and a twelve month high of $33.34. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97.

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on RKLB shares. Stifel Nicolaus raised their price target on shares of Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. The Goldman Sachs Group raised their price objective on shares of Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a research note on Thursday, January 16th. TD Cowen raised shares of Rocket Lab USA to a “strong-buy” rating in a research note on Monday, February 24th. Citigroup reduced their price objective on shares of Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Finally, Morgan Stanley raised their price objective on shares of Rocket Lab USA from $18.00 to $20.00 and gave the company an “equal weight” rating in a research note on Monday, March 10th. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $23.06.

Rocket Lab USA 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.