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

Key Points

• Bank of New York Mellon slightly increased its Rocket Lab stake in the fourth quarter, ending with 1.56 million shares worth about $109.2 million.
• Rocket Lab reported quarterly revenue of $200.35 million, up 63.4% year over year, while EPS came in at -$0.07, matching analyst expectations.
• Wall Street sentiment remains constructive, with several bullish ratings and a consensus Moderate Buy view, though insiders have recently been selling shares and some analysts warn the stock’s rally may be stretched.

Bank of New York Mellon Corp lifted its stake in shares of Rocket Lab Corporation (NASDAQ:RKLB - Free Report) by 0.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,564,863 shares of the rocket manufacturer's stock after acquiring an additional 6,126 shares during the quarter. Bank of New York Mellon Corp owned about 0.29% of Rocket Lab worth $109,165,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Rocket Lab by 13.4% in the fourth quarter. Vanguard Group Inc. now owns 47,420,192 shares of the rocket manufacturer's stock worth $3,308,033,000 after buying an additional 5,610,469 shares during the last quarter. Baillie Gifford & Co. boosted its holdings in Rocket Lab by 47.2% during the fourth quarter. Baillie Gifford & Co. now owns 17,851,446 shares of the rocket manufacturer's stock valued at $1,245,317,000 after acquiring an additional 5,725,536 shares during the period. Capital World Investors grew its position in shares of Rocket Lab by 9.4% in the third quarter. Capital World Investors now owns 14,462,103 shares of the rocket manufacturer's stock valued at $692,879,000 after purchasing an additional 1,242,547 shares during the last quarter. State Street Corp grew its position in shares of Rocket Lab by 13.6% in the third quarter. State Street Corp now owns 12,399,571 shares of the rocket manufacturer's stock valued at $594,063,000 after purchasing an additional 1,487,237 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Rocket Lab by 10.1% in the fourth quarter. Geode Capital Management LLC now owns 9,004,724 shares of the rocket manufacturer's stock worth $626,605,000 after purchasing an additional 825,158 shares during the period. 71.78% of the stock is owned by institutional investors.

Rocket Lab Price Performance

Shares of RKLB stock opened at $110.08 on Monday. The stock has a 50 day moving average of $97.02 and a two-hundred day moving average of $78.94. The company has a current ratio of 4.47, a quick ratio of 4.02 and a debt-to-equity ratio of 0.02. Rocket Lab Corporation has a 12 month low of $25.24 and a 12 month high of $151.00. The company has a market capitalization of $63.71 billion, a P/E ratio of -344.00 and a beta of 2.48.

Rocket Lab (NASDAQ:RKLB - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The rocket manufacturer reported ($0.07) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.07). Rocket Lab had a negative return on equity of 11.72% and a negative net margin of 26.87%.The business had revenue of $200.35 million for the quarter, compared to analysts' expectations of $189.65 million. During the same period in the previous year, the business posted ($0.12) earnings per share. Rocket Lab's quarterly revenue was up 63.4% on a year-over-year basis. As a group, equities analysts expect that Rocket Lab Corporation will post -0.29 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RKLB. Stifel Nicolaus set a $132.00 price objective on Rocket Lab in a research report on Thursday. New Street Research initiated coverage on Rocket Lab in a research report on Wednesday, May 13th. They issued a "buy" rating and a $150.00 price target on the stock. Clear Str upgraded Rocket Lab to a "strong-buy" rating in a report on Wednesday, March 18th. Wells Fargo & Company started coverage on Rocket Lab in a research report on Wednesday, April 1st. They issued an "equal weight" rating and a $60.00 price objective for the company. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of Rocket Lab in a research note on Wednesday, May 27th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Rocket Lab has an average rating of "Moderate Buy" and a consensus price target of $98.88.

Insider Activity at Rocket Lab

In related news, Director Alexander R. Slusky sold 100,000 shares of the stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $118.08, for a total value of $11,808,000.00. Following the completion of the transaction, the director owned 434,675 shares of the company's stock, valued at $51,326,424. This represents a 18.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Adam C. Spice sold 62,744 shares of the firm's stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $142.57, for a total transaction of $8,945,412.08. Following the transaction, the chief financial officer owned 983,049 shares of the company's stock, valued at approximately $140,153,295.93. This represents a 6.00% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 485,515 shares of company stock worth $66,909,882 in the last ninety days. Company insiders own 8.40% of the company's stock.

Key Headlines Impacting 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

Rocket Lab 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.

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