BI Asset Management Fondsmaeglerselskab A S Has $10.72 Million Position in Rocket Lab Corporation $RKLB

Key Points

• BI Asset Management Fondsmaeglerselskab A S trimmed its Rocket Lab stake by 9.4% in the fourth quarter, selling 15,879 shares and ending with 153,676 shares valued at about $10.72 million.
• Rocket Lab reported Q1 revenue of $200.35 million, up 63.4% year over year, and EPS of -$0.07, matching analyst expectations. The company also remains unprofitable, with a negative net margin and negative return on equity.
• Analyst sentiment is mixed but generally positive: several firms raised price targets, and the stock has a Moderate Buy consensus rating with an average target price of $98.88. Meanwhile, insiders sold shares recently, including large sales by Arjun Kampani and Frank Klein.

BI Asset Management Fondsmaeglerselskab A S lowered its stake in shares of Rocket Lab Corporation (NASDAQ:RKLB - Free Report) by 9.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 153,676 shares of the rocket manufacturer's stock after selling 15,879 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Rocket Lab were worth $10,720,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in RKLB. Baillie Gifford & Co. grew its position 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 worth $1,245,317,000 after buying an additional 5,725,536 shares in the last quarter. Vanguard Group Inc. grew its position in Rocket Lab by 13.4% during 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 in the last quarter. Norges Bank acquired a new stake in Rocket Lab during the fourth quarter worth approximately $341,036,000. Alliancebernstein L.P. grew its position in Rocket Lab by 818.8% during the third quarter. Alliancebernstein L.P. now owns 2,190,132 shares of the rocket manufacturer's stock worth $104,929,000 after buying an additional 1,951,755 shares in the last quarter. Finally, Amundi grew its position in Rocket Lab by 308.4% during the third quarter. Amundi now owns 2,301,568 shares of the rocket manufacturer's stock worth $110,268,000 after buying an additional 1,738,038 shares in the last quarter. Institutional investors and hedge funds own 71.78% of the company's stock.

Rocket Lab Trading Down 8.2%

Shares of RKLB stock opened at $110.08 on Friday. The stock's fifty day moving average price is $97.02 and its two-hundred day moving average price is $78.69. The company has a market cap of $63.71 billion, a PE ratio of -344.00 and a beta of 2.49. Rocket Lab Corporation has a fifty-two week low of $25.24 and a fifty-two week high of $151.00. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.02 and a current ratio of 4.47.

Rocket Lab (NASDAQ:RKLB - Get Free Report) last issued its earnings results on Thursday, May 7th. The rocket manufacturer reported ($0.07) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.07). The firm had revenue of $200.35 million for the quarter, compared to the consensus estimate of $189.65 million. Rocket Lab had a negative return on equity of 11.72% and a negative net margin of 26.87%.The company's revenue was up 63.4% compared to the same quarter last year. During the same quarter last year, the business posted ($0.12) EPS. Equities analysts predict that Rocket Lab Corporation will post -0.29 EPS for the current fiscal year.

Insider Activity at Rocket Lab

In related news, SVP Arjun Kampani sold 23,804 shares of the firm's stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $147.43, for a total transaction of $3,509,423.72. Following the sale, the senior vice president owned 352,705 shares of the company's stock, valued at $51,999,298.15. This trade represents a 6.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Frank Klein sold 36,860 shares of the firm's stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $147.42, for a total value of $5,433,901.20. Following the sale, the insider directly owned 1,006,987 shares in the company, valued at approximately $148,450,023.54. This trade represents a 3.53% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 485,515 shares of company stock worth $66,909,882 over the last 90 days. 8.40% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

RKLB has been the topic of a number of analyst reports. Citizens Jmp increased their price target on Rocket Lab from $85.00 to $95.00 and gave the stock a "market outperform" rating in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft increased their price target on Rocket Lab from $73.00 to $120.00 and gave the stock a "buy" rating in a research report on Tuesday, May 12th. Roth Mkm increased their price target on Rocket Lab from $90.00 to $100.00 and gave the stock a "buy" rating in a research report on Friday, April 17th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Rocket Lab in a report on Tuesday, April 21st. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Rocket Lab in a report on Wednesday, May 27th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Rocket Lab currently has a consensus rating of "Moderate Buy" and an average target price of $98.88.

Rocket Lab News Summary

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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