Nikko Asset Management Americas Inc. Sells 994,467 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB)

Nikko Asset Management Americas Inc. cut its holdings in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 48.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,042,227 shares of the rocket manufacturer’s stock after selling 994,467 shares during the period. Nikko Asset Management Americas Inc. owned approximately 0.21% of Rocket Lab USA worth $26,525,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC boosted its holdings in Rocket Lab USA by 12.2% during the third quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock valued at $80,317,000 after acquiring an additional 898,223 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Rocket Lab USA by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,902,212 shares of the rocket manufacturer’s stock valued at $73,919,000 after acquiring an additional 23,855 shares during the period. Bank of New York Mellon Corp boosted its holdings in Rocket Lab USA by 2.6% during the fourth quarter. Bank of New York Mellon Corp now owns 1,121,024 shares of the rocket manufacturer’s stock valued at $28,552,000 after acquiring an additional 28,618 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Rocket Lab USA during the fourth quarter valued at about $21,896,000. Finally, Citigroup Inc. boosted its holdings in Rocket Lab USA by 46.8% during the third quarter. Citigroup Inc. now owns 691,387 shares of the rocket manufacturer’s stock valued at $6,727,000 after acquiring an additional 220,432 shares during the period. 71.78% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on RKLB shares. Wells Fargo & Company decreased their price target on shares of Rocket Lab USA from $22.00 to $21.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. The Goldman Sachs Group increased their target price 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 upgraded shares of Rocket Lab USA to a “strong-buy” rating in a research note on Monday, February 24th. Stifel Nicolaus increased 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 note on Wednesday, January 8th. Finally, KeyCorp reduced their target price on shares of Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.06.

Rocket Lab USA Stock Performance

NASDAQ:RKLB opened at $18.81 on Monday. Rocket Lab USA, Inc. has a 12-month low of $3.47 and a 12-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. The firm has a market capitalization of $8.53 billion, a PE ratio of -50.84 and a beta of 2.06. The firm has a 50-day moving average price of $25.10 and a 200 day moving average price of $18.84.

Rocket Lab USA (NASDAQ:RKLB) last posted 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). The business had revenue of $132.39 million during the quarter, compared to analyst estimates of $130.58 million. Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. Research analysts anticipate that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current fiscal year.

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.