Nomura Asset Management Co. Ltd. Has $3.57 Million Stock Holdings in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Nomura Asset Management Co. Ltd. decreased its position in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 38.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 140,267 shares of the rocket manufacturer’s stock after selling 87,171 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Rocket Lab USA were worth $3,573,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Spectrum Wealth Counsel LLC acquired a new position in Rocket Lab USA in the fourth quarter valued at about $25,000. Sandy Spring Bank bought a new position in shares of Rocket Lab USA during the 4th quarter valued at about $26,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Rocket Lab USA in the 4th quarter valued at approximately $40,000. Smartleaf Asset Management LLC increased its stake in Rocket Lab USA by 1,565.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,015 shares of the rocket manufacturer’s stock worth $53,000 after purchasing an additional 1,894 shares in the last quarter. Finally, AlphaQuest LLC acquired a new stake in Rocket Lab USA during the 4th quarter worth approximately $52,000. Institutional investors own 71.78% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on RKLB. Stifel Nicolaus increased their price objective on shares of Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Wells Fargo & Company lowered their target price on 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. Citigroup dropped their price target on 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. Morgan Stanley upped their price objective on Rocket Lab USA from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Monday, March 10th. Finally, The Goldman Sachs Group lifted their target price on Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a research report on Thursday, January 16th. 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $23.06.

Rocket Lab USA Trading Up 1.5 %

Shares of Rocket Lab USA stock opened at $18.15 on Wednesday. The stock has a market cap of $8.23 billion, a P/E ratio of -49.05 and a beta of 2.06. Rocket Lab USA, Inc. has a 12-month low of $3.47 and a 12-month high of $33.34. The business’s 50 day moving average is $23.33 and its 200-day moving average is $19.89. 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 released its quarterly earnings data on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.01). Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. The firm had revenue of $132.39 million for the quarter, compared to analyst estimates of $130.58 million. Equities research analysts predict that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current fiscal year.

Insider Buying and Selling at Rocket Lab USA

In other news, insider Frank Klein sold 44,553 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $18.18, for a total value of $809,973.54. Following the transaction, the insider now directly owns 1,419,479 shares of the company’s stock, valued at $25,806,128.22. This represents a 3.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 13.70% of the company’s stock.

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.