SBI Securities Co. Ltd. Decreases Stock Holdings in Rocket Lab Corporation $RKLB

SBI Securities Co. Ltd. lowered its holdings in shares of Rocket Lab Corporation (NASDAQ:RKLB) by 11.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 127,480 shares of the rocket manufacturer’s stock after selling 16,075 shares during the quarter. SBI Securities Co. Ltd.’s holdings in Rocket Lab were worth $6,108,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. AQR Capital Management LLC lifted its holdings in shares of Rocket Lab by 114.0% in the 1st quarter. AQR Capital Management LLC now owns 174,308 shares of the rocket manufacturer’s stock valued at $3,117,000 after acquiring an additional 92,849 shares during the last quarter. NewEdge Advisors LLC increased its stake in Rocket Lab by 1,812.1% during the first quarter. NewEdge Advisors LLC now owns 36,807 shares of the rocket manufacturer’s stock worth $658,000 after acquiring an additional 34,882 shares during the last quarter. Jones Financial Companies Lllp raised its position in Rocket Lab by 53.8% during the first quarter. Jones Financial Companies Lllp now owns 15,745 shares of the rocket manufacturer’s stock valued at $282,000 after purchasing an additional 5,507 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Rocket Lab by 13.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 773,548 shares of the rocket manufacturer’s stock valued at $13,831,000 after purchasing an additional 90,758 shares during the last quarter. Finally, Focus Partners Wealth lifted its stake in shares of Rocket Lab by 1.0% in the 1st quarter. Focus Partners Wealth now owns 67,584 shares of the rocket manufacturer’s stock valued at $1,206,000 after purchasing an additional 681 shares during the last quarter. 71.78% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on RKLB. Bank of America boosted their target price on Rocket Lab from $60.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, January 20th. Wall Street Zen lowered shares of Rocket Lab from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. Needham & Company LLC increased their target price on shares of Rocket Lab from $63.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, December 23rd. Roth Mkm reaffirmed a “buy” rating and set a $75.00 price target on shares of Rocket Lab in a research note on Tuesday, November 11th. Finally, TD Cowen reissued a “buy” rating on shares of Rocket Lab in a research report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $72.92.

Rocket Lab Stock Performance

Rocket Lab stock opened at $73.11 on Thursday. The company has a 50 day moving average price of $71.94 and a 200-day moving average price of $58.15. The company has a market capitalization of $39.05 billion, a PE ratio of -192.39 and a beta of 2.16. Rocket Lab Corporation has a fifty-two week low of $14.71 and a fifty-two week high of $99.58. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.83 and a current ratio of 3.18.

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

Insider Activity at Rocket Lab

In other Rocket Lab news, insider Frank Klein sold 100,000 shares of the stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $72.95, for a total transaction of $7,295,000.00. Following the sale, the insider owned 1,169,487 shares of the company’s stock, valued at approximately $85,314,076.65. This trade represents a 7.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Edward H. Frank sold 2,500 shares of the company’s stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $77.39, for a total value of $193,475.00. Following the sale, the director owned 142,504 shares of the company’s stock, valued at $11,028,384.56. This trade represents a 1.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 4,306,150 shares of company stock valued at $271,865,732 over the last 90 days. Insiders own 11.90% of the company’s stock.

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.