BI Asset Management Fondsmaeglerselskab A S Cuts Stake in Rocket Lab Corporation $RKLB

BI Asset Management Fondsmaeglerselskab A S reduced its stake in shares of Rocket Lab Corporation (NASDAQ:RKLB - Free Report) by 90.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,218 shares of the rocket manufacturer's stock after selling 84,573 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Rocket Lab were worth $165,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of RKLB. Vanguard Group Inc. boosted its position in shares of Rocket Lab by 10.6% during the 1st quarter. Vanguard Group Inc. now owns 40,029,546 shares of the rocket manufacturer's stock valued at $715,728,000 after acquiring an additional 3,833,969 shares during the last quarter. Two Sigma Advisers LP bought a new stake in shares of Rocket Lab during the fourth quarter worth $72,623,000. BNP Paribas Financial Markets bought a new stake in shares of Rocket Lab during the fourth quarter worth $56,977,000. Two Sigma Investments LP purchased a new position in shares of Rocket Lab during the fourth quarter valued at $47,074,000. Finally, Driehaus Capital Management LLC purchased a new position in shares of Rocket Lab during the fourth quarter valued at $35,987,000. 71.78% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Frank Klein sold 44,885 shares of the stock in a transaction on Friday, May 30th. The stock was sold at an average price of $26.66, for a total transaction of $1,196,634.10. Following the completion of the transaction, the insider directly owned 1,370,190 shares in the company, valued at approximately $36,529,265.40. This represents a 3.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Matthew Ocko sold 820,000 shares of the stock in a transaction on Friday, June 13th. The stock was sold at an average price of $26.01, for a total value of $21,328,200.00. Following the transaction, the director owned 1,083,053 shares of the company's stock, valued at approximately $28,170,208.53. This represents a 43.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,130,995 shares of company stock valued at $29,686,039. 11.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on RKLB shares. Craig Hallum started coverage on Rocket Lab in a research note on Monday, July 28th. They issued a "hold" rating and a $51.00 target price on the stock. Citigroup reissued a "buy" rating and issued a $50.00 price target (up previously from $33.00) on shares of Rocket Lab in a report on Monday, July 14th. Bank of America lifted their target price on Rocket Lab from $30.00 to $50.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. The Goldman Sachs Group initiated coverage on Rocket Lab in a report on Monday, June 30th. They set a "neutral" rating and a $27.00 target price for the company. Finally, Cantor Fitzgerald boosted their price target on Rocket Lab from $35.00 to $54.00 and gave the company an "overweight" rating in a report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Rocket Lab currently has a consensus rating of "Moderate Buy" and an average target price of $42.27.

Rocket Lab Stock Up 6.9%

Shares of NASDAQ:RKLB opened at $44.38 on Monday. The company has a quick ratio of 2.33, a current ratio of 2.67 and a debt-to-equity ratio of 0.60. The business has a fifty day moving average of $40.74 and a two-hundred day moving average of $28.81. The stock has a market cap of $21.27 billion, a P/E ratio of -98.62 and a beta of 2.17. Rocket Lab Corporation has a 52-week low of $5.74 and a 52-week high of $53.44.

Rocket Lab (NASDAQ:RKLB - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The rocket manufacturer reported ($0.13) earnings per share for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.06). The business had revenue of $144.50 million for the quarter, compared to analysts' expectations of $135.42 million. Rocket Lab had a negative return on equity of 48.14% and a negative net margin of 45.87%.The business's revenue for the quarter was up 35.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.08) earnings per share. Rocket Lab has set its Q3 2025 guidance at EPS. On average, research analysts expect that Rocket Lab Corporation will post -0.38 earnings per share for the current year.

Rocket Lab 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.

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