Nomura Holdings Inc. Takes Position in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Nomura Holdings Inc. acquired a new stake in Rocket Lab USA, Inc. (NASDAQ:RKLB) in the fourth quarter, Holdings Channel.com reports. The firm acquired 52,578 shares of the rocket manufacturer’s stock, valued at approximately $1,339,000.

Other large investors have also recently made changes to their positions in the company. Spectrum Wealth Counsel LLC purchased a new stake in shares of Rocket Lab USA during the fourth quarter worth approximately $25,000. Sandy Spring Bank purchased a new stake in shares of Rocket Lab USA during the fourth quarter worth approximately $26,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Rocket Lab USA during the fourth quarter worth approximately $40,000. Quarry LP purchased a new stake in shares of Rocket Lab USA during the fourth quarter worth approximately $48,000. Finally, NewEdge Advisors LLC increased its position in shares of Rocket Lab USA by 1,000.0% during the fourth quarter. NewEdge Advisors LLC now owns 1,925 shares of the rocket manufacturer’s stock worth $49,000 after purchasing an additional 1,750 shares in the last quarter. 71.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Frank Klein sold 44,553 shares of the company’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $18.18, for a total value of $809,973.54. Following the transaction, the insider now owns 1,419,479 shares of the company’s stock, valued at $25,806,128.22. This represents a 3.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 13.70% of the company’s stock.

Wall Street Analyst Weigh In

RKLB has been the subject of several research reports. TD Cowen upgraded Rocket Lab USA to a “strong-buy” rating in a research report on Monday, February 24th. Morgan Stanley boosted their price target 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. Needham & Company LLC reissued a “buy” rating and set a $28.00 price objective on shares of Rocket Lab USA in a research note on Tuesday, May 13th. Wells Fargo & Company lowered their price objective on Rocket Lab USA from $21.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 8th. Finally, The Goldman Sachs Group boosted their price objective on Rocket Lab USA from $14.35 to $16.00 and gave the stock a “neutral” rating in a research note on Monday, May 12th. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Rocket Lab USA presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.50.

Rocket Lab USA Stock Performance

Shares of Rocket Lab USA stock opened at $25.57 on Friday. Rocket Lab USA, Inc. has a 52 week low of $4.15 and a 52 week high of $33.34. The business’s fifty day simple moving average is $20.19 and its 200-day simple moving average is $22.48. The firm has a market cap of $11.60 billion, a PE ratio of -69.11 and a beta of 2.04. 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 announced its quarterly earnings results on Thursday, May 8th. The rocket manufacturer reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.02). Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. The business had revenue of $122.57 million during the quarter, compared to analyst estimates of $120.74 million. During the same period last year, the company earned ($0.09) EPS. The business’s revenue for the quarter was up 32.1% on a year-over-year basis. Equities analysts forecast that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current 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.