Bank of New York Mellon Corp Has $109.17 Million Stock Holdings in Rocket Lab Corporation $RKLB

Bank of New York Mellon Corp lifted its position in Rocket Lab Corporation (NASDAQ:RKLB) by 0.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,564,863 shares of the rocket manufacturer’s stock after purchasing an additional 6,126 shares during the quarter. Bank of New York Mellon Corp’s holdings in Rocket Lab were worth $109,165,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in RKLB. Aventura Private Wealth LLC acquired a new stake in shares of Rocket Lab during the fourth quarter worth approximately $25,000. V Square Quantitative Management LLC acquired a new stake in Rocket Lab during the 4th quarter valued at $32,000. DecisionPoint Financial LLC raised its position in Rocket Lab by 91.1% in the 4th quarter. DecisionPoint Financial LLC now owns 472 shares of the rocket manufacturer’s stock valued at $33,000 after purchasing an additional 225 shares during the last quarter. Asset Dedication LLC bought a new position in Rocket Lab in the 4th quarter valued at $33,000. Finally, Eagle Bay Advisors LLC acquired a new position in Rocket Lab in the fourth quarter worth $35,000. Institutional investors and hedge funds own 71.78% of the company’s stock.

Trending Headlines about Rocket Lab

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Stifel Nicolaus set a $132.00 target price on Rocket Lab in a report on Thursday. Zacks Research downgraded shares of Rocket Lab from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Rocket Lab in a report on Tuesday, April 21st. TD Cowen raised their price objective on shares of Rocket Lab from $90.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Finally, Citigroup reiterated an “outperform” rating on shares of Rocket Lab in a research report on Friday, May 8th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Rocket Lab presently has an average rating of “Moderate Buy” and a consensus target price of $98.88.

Rocket Lab Price Performance

Rocket Lab stock opened at $110.08 on Monday. The business’s 50-day simple moving average is $97.02 and its 200 day simple moving average is $78.94. The company has a quick ratio of 4.02, a current ratio of 4.47 and a debt-to-equity ratio of 0.02. The stock has a market cap of $63.71 billion, a price-to-earnings ratio of -344.00 and a beta of 2.48. Rocket Lab Corporation has a 12-month low of $25.24 and a 12-month high of $151.00.

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

Insider Buying and Selling at Rocket Lab

In related news, SVP Arjun Kampani sold 23,804 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $147.43, for a total value of $3,509,423.72. Following the transaction, the senior vice president directly owned 352,705 shares in the company, valued at $51,999,298.15. This represents a 6.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Frank Klein sold 36,860 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $147.42, for a total transaction of $5,433,901.20. Following the completion of the transaction, the insider directly owned 1,006,987 shares in the company, valued at approximately $148,450,023.54. The trade was a 3.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 485,515 shares of company stock valued at $66,909,882 over the last 90 days. Company insiders own 8.40% of the company’s stock.

Rocket Lab Company 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.