Nykredit A S Makes New $32.60 Million Investment in Rocket Lab Corporation $RKLB

Key Points

• Nykredit A/S acquired 320,673 Rocket Lab shares worth approximately $32.6 million, while institutional investors collectively held 71.78% of the company’s stock.
• Analyst sentiment was generally positive: Rocket Lab received a consensus “Moderate Buy” rating with an average price target of $107.32, despite one sell rating.
• Rocket Lab shares opened at $64.57, down 4.8%, after the company reported a quarterly EPS loss of $0.08 versus the expected $0.06 loss; revenue of $234.07 million slightly exceeded estimates.

Nykredit A S bought a new stake in Rocket Lab Corporation (NASDAQ:RKLB - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 320,673 shares of the rocket manufacturer's stock, valued at approximately $32,596,000. Nykredit A S owned about 0.05% of Rocket Lab as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RKLB. Parkside Financial Bank & Trust raised its stake in shares of Rocket Lab by 669.1% in the second quarter. Parkside Financial Bank & Trust now owns 6,022 shares of the rocket manufacturer's stock valued at $612,000 after acquiring an additional 5,239 shares in the last quarter. Anchor Capital Advisors LLC purchased a new stake in shares of Rocket Lab during the second quarter worth approximately $1,421,000. Corient Private Wealth LP raised its holdings in Rocket Lab by 795.2% in the second quarter. Corient Private Wealth LP now owns 476,241 shares of the rocket manufacturer's stock valued at $48,410,000 after acquiring an additional 423,039 shares in the last quarter. Amundi lifted its stake in Rocket Lab by 22.2% in the second quarter. Amundi now owns 2,180,748 shares of the rocket manufacturer's stock worth $221,673,000 after acquiring an additional 396,639 shares during the last quarter. Finally, HighTower Advisors LLC lifted its stake in Rocket Lab by 4.2% in the second quarter. HighTower Advisors LLC now owns 109,226 shares of the rocket manufacturer's stock worth $11,103,000 after acquiring an additional 4,407 shares during the last quarter. Hedge funds and other institutional investors own 71.78% of the company's stock.

Insider Activity

In other news, SVP Arjun Kampani sold 7,754 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $69.63, for a total value of $539,911.02. Following the completion of the transaction, the senior vice president owned 256,951 shares in the company, valued at $17,891,498.13. This trade represents a 2.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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. Also, insider Frank Klein sold 45,692 shares of the firm's stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $69.63, for a total transaction of $3,181,533.96. Following the completion of the sale, the insider owned 961,295 shares of the company's stock, valued at $66,934,970.85. This trade represents a 4.54% 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 have sold a total of 3,536,371 shares of company stock valued at $303,442,641 over the last three months. 8.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

RKLB has been the topic of a number of analyst reports. KGI Securities upgraded shares of Rocket Lab from a "neutral" rating to an "outperform" rating and set a $107.00 price objective on the stock in a report on Monday, July 27th. Raymond James Financial began coverage on shares of Rocket Lab in a research note on Friday, September 11th. They set an "outperform" rating and a $80.00 target price for the company. Berenberg Bank began coverage on Rocket Lab in a report on Wednesday, September 2nd. They issued a "buy" rating and a $83.00 target price on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Rocket Lab in a research note on Friday, July 17th. Finally, Craig Hallum lifted their price target on Rocket Lab from $98.00 to $120.00 and gave the stock a "buy" rating in a report on Monday, June 29th. Four research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $107.32.

Rocket Lab News Summary

Here are the key news stories impacting Rocket Lab this week:

• Positive Sentiment: Rocket Lab completed a roughly $1.94 billion equity offering to help finance its proposed acquisition of Iridium Communications, providing capital for the company’s expansion into satellite communications and defense. Rocket Lab Completes $1.94 Billion Equity Offering
• Positive Sentiment: The Iridium transaction cleared an initial FCC regulatory hurdle, while Iridium shareholders are scheduled to vote on the approximately $8.1 billion deal on September 24. Regulatory progress supports Rocket Lab’s strategy to build a broader space and communications business. Rocket Lab Jumps as FCC Clears First Hurdle on Iridium Deal
• Positive Sentiment: Rocket Lab is continuing hardware testing for its Neutron rocket. Reports that SpaceX may limit new Falcon 9 commercial bookings beyond 2028 could create an opportunity for Neutron if Rocket Lab achieves a successful debut and reliable launch cadence. Rocket Lab Tests Neutron Hardware

Rocket Lab Trading Down 4.8%

Shares of RKLB stock opened at $64.57 on Friday. The company has a market capitalization of $38.64 billion, a P/E ratio of -239.14 and a beta of 2.60. The company has a current ratio of 5.48, a quick ratio of 4.98 and a debt-to-equity ratio of 0.01. The business's 50 day moving average is $69.56 and its two-hundred day moving average is $84.25. Rocket Lab Corporation has a twelve month low of $37.57 and a twelve month high of $151.00.

Rocket Lab (NASDAQ:RKLB - Get Free Report) last issued its quarterly earnings results on Monday, August 10th. The rocket manufacturer reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.02). The company had revenue of $234.07 million for the quarter, compared to analyst estimates of $231.62 million. Rocket Lab had a negative return on equity of 6.48% and a negative net margin of 21.51%. Equities analysts forecast that Rocket Lab Corporation will post -0.2 EPS for the current year.

Rocket Lab Profile

Rocket Lab USA, Inc is a space company that provides launch services and space systems for commercial, civil and national security customers. The company develops and operates launch vehicles, spacecraft and satellite components, with activities spanning the design, manufacture and operation of space hardware.

Rocket Lab's Electron rocket is a small-lift orbital launch vehicle designed to deploy small satellites. The company also develops HASTE, a suborbital test vehicle based on Electron technology, and is developing Neutron, a larger reusable launch vehicle intended to support a broader range of missions.

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