BI Asset Management Fondsmaeglerselskab A S Has $10.72 Million Stake in Rocket Lab Corporation $RKLB

BI Asset Management Fondsmaeglerselskab A S decreased its position in shares of Rocket Lab Corporation (NASDAQ:RKLB) by 9.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 153,676 shares of the rocket manufacturer’s stock after selling 15,879 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Rocket Lab were worth $10,720,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Aventura Private Wealth LLC acquired a new stake in shares of Rocket Lab during the 4th quarter valued at $25,000. UMB Bank n.a. raised its position in Rocket Lab by 352.5% during the 3rd quarter. UMB Bank n.a. now owns 543 shares of the rocket manufacturer’s stock worth $26,000 after purchasing an additional 423 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Rocket Lab by 109.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 796 shares of the rocket manufacturer’s stock worth $28,000 after purchasing an additional 416 shares during the last quarter. V Square Quantitative Management LLC bought a new position in Rocket Lab during the 4th quarter worth $32,000. Finally, DecisionPoint Financial LLC raised its position in Rocket Lab by 91.1% during the 4th quarter. DecisionPoint Financial LLC now owns 472 shares of the rocket manufacturer’s stock worth $33,000 after purchasing an additional 225 shares during the last quarter. Institutional investors and hedge funds own 71.78% of the company’s stock.

More Rocket Lab News

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

• Positive Sentiment: Wall Street sentiment improved after Stifel raised its price target on Rocket Lab to a Street-high $132 from $110 and kept a Buy rating, reinforcing the view that growth can continue. Rocket Lab Stock (RKLB) Lands a New Street-High Target as Top Stifel Analyst Sees Stronger Growth Ahead
• Positive Sentiment: Recent coverage continues to highlight Rocket Lab’s strong operating momentum, including its first-ever $200 million revenue quarter, 63%+ year-over-year revenue growth, expanding gross margin, and a backlog that reached $2.2 billion. Rocket Lab: Don’t Hold Your Breath On Neutron
• Positive Sentiment: The broader space sector is getting a lift from SpaceX IPO excitement, and Rocket Lab is being viewed as a public-market way to play the space race, which has helped sentiment across RKLB and other space stocks. There’s More to Space Stocks Than SpaceX
• Neutral Sentiment: Some analysts and commentators are warning that the stock’s big rally may have outrun fundamentals, pointing to valuation risk and possible volatility if expectations become harder to beat. We’re Holding Rocket Lab Despite 356% Rally
• Negative Sentiment: Bearish pieces argue investors should be cautious ahead of a possible SpaceX IPO “reality check,” with concerns that competition and sky-high expectations could eventually pressure RKLB’s multiple. Rocket Lab: Sell Before The SpaceX IPO Reality Check

Insider Transactions at Rocket Lab

In other news, insider Frank Klein sold 44,390 shares of Rocket Lab stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $142.57, for a total value of $6,328,682.30. Following the completion of the transaction, the insider directly owned 1,043,847 shares of the company’s stock, valued at approximately $148,821,266.79. This trade represents a 4.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Adam C. Spice sold 62,744 shares of Rocket Lab stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $142.57, for a total value of $8,945,412.08. Following the completion of the transaction, the chief financial officer directly owned 983,049 shares of the company’s stock, valued at approximately $140,153,295.93. This trade represents a 6.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 485,515 shares of company stock worth $66,909,882. Corporate insiders own 8.40% of the company’s stock.

Rocket Lab Stock Performance

RKLB stock opened at $110.08 on Friday. The stock has a 50-day moving average price of $97.02 and a 200-day moving average price of $78.69. Rocket Lab Corporation has a 1-year low of $25.24 and a 1-year 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 firm has a market cap of $63.71 billion, a PE ratio of -344.00 and a beta of 2.49.

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

Analyst Upgrades and Downgrades

RKLB has been the subject of several analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rocket Lab in a research report on Tuesday, April 21st. Craig Hallum raised Rocket Lab from a “hold” rating to a “buy” rating and set a $98.00 target price for the company in a research report on Friday, May 8th. Wall Street Zen raised Rocket Lab from a “sell” rating to a “hold” rating in a research report on Sunday, February 8th. Stifel Nicolaus set a $132.00 target price on Rocket Lab in a research report on Thursday. Finally, BTIG Research reaffirmed a “hold” rating on shares of Rocket Lab in a research report on Tuesday, May 12th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $98.88.

About Rocket Lab

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.