Nomura Asset Management Co. Ltd. Has $2.21 Million Stock Holdings in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Nomura Asset Management Co. Ltd. lifted its stake in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 22.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 227,438 shares of the rocket manufacturer’s stock after purchasing an additional 41,551 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Rocket Lab USA were worth $2,213,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC bought a new stake in Rocket Lab USA during the second quarter worth about $46,000. Amalgamated Bank lifted its holdings in shares of Rocket Lab USA by 26.7% during the 2nd quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock worth $58,000 after acquiring an additional 2,538 shares during the period. CIBC Asset Management Inc acquired a new stake in shares of Rocket Lab USA during the 2nd quarter worth approximately $67,000. Sanctuary Advisors LLC bought a new position in Rocket Lab USA in the second quarter valued at approximately $76,000. Finally, National Bank of Canada FI raised its position in Rocket Lab USA by 97.8% during the second quarter. National Bank of Canada FI now owns 20,230 shares of the rocket manufacturer’s stock valued at $92,000 after purchasing an additional 10,000 shares in the last quarter. Institutional investors own 71.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Stifel Nicolaus raised their target price on Rocket Lab USA from $15.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Citigroup boosted their target price on Rocket Lab USA from $13.00 to $22.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. JMP Securities assumed coverage on shares of Rocket Lab USA in a research note on Thursday, September 12th. They issued a “market perform” rating on the stock. KeyCorp upped their price objective on shares of Rocket Lab USA from $11.00 to $12.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Finally, Wells Fargo & Company raised their target price on shares of Rocket Lab USA from $13.50 to $22.00 and gave the company an “equal weight” rating in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.44.

Rocket Lab USA Stock Performance

NASDAQ RKLB opened at $24.42 on Friday. The company has a market capitalization of $12.21 billion, a price-to-earnings ratio of -66.00 and a beta of 1.96. 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, Inc. has a twelve month low of $3.47 and a twelve month high of $28.10. The stock has a fifty day simple moving average of $16.57 and a 200 day simple moving average of $9.55.

Insider Activity

In other Rocket Lab USA news, General Counsel Arjun Kampani sold 28,562 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $24.15, for a total transaction of $689,772.30. Following the completion of the sale, the general counsel now directly owns 608,996 shares in the company, valued at approximately $14,707,253.40. This trade represents a 4.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Alexander R. Slusky sold 50,000 shares of Rocket Lab USA stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $23.00, for a total value of $1,150,000.00. Following the completion of the transaction, the director now directly owns 534,675 shares of the company’s stock, valued at approximately $12,297,525. This trade represents a 8.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,114,530 shares of company stock valued at $38,168,400. Company insiders own 13.70% of the company’s stock.

Rocket Lab USA Company 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.