Mizuho Markets Americas LLC Has $14.04 Million Stock Position in Rocket Lab Corporation (NASDAQ:RKLB)

Key Points

• Mizuho Markets Americas LLC increased its stake in Rocket Lab Corporation by 155.7% in Q1, owning approximately 785,471 shares valued at about $14 million.
• Insider trading revealed that insiders sold a total of 1,130,995 shares in the last 90 days, signifying a 0.97% decrease in one insider's position and a 1.49% decrease in another's.
• Rocket Lab's stock has seen a substantial rise, with a 1-year high of $53.44, and analysts have set new price targets, with some expecting a price increase up to $55.00.

Mizuho Markets Americas LLC grew its position in shares of Rocket Lab Corporation (NASDAQ:RKLB - Free Report) by 155.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 785,471 shares of the rocket manufacturer's stock after purchasing an additional 478,333 shares during the quarter. Mizuho Markets Americas LLC owned 0.17% of Rocket Lab worth $14,044,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of RKLB. Versant Capital Management Inc raised its position in shares of Rocket Lab by 118.1% during the first quarter. Versant Capital Management Inc now owns 1,588 shares of the rocket manufacturer's stock worth $28,000 after purchasing an additional 860 shares during the period. MassMutual Private Wealth & Trust FSB acquired a new stake in shares of Rocket Lab during the first quarter worth $29,000. Farther Finance Advisors LLC raised its position in shares of Rocket Lab by 181.1% during the first quarter. Farther Finance Advisors LLC now owns 1,903 shares of the rocket manufacturer's stock worth $35,000 after purchasing an additional 1,226 shares during the period. Spectrum Wealth Counsel LLC raised its position in shares of Rocket Lab by 100.0% during the first quarter. Spectrum Wealth Counsel LLC now owns 2,000 shares of the rocket manufacturer's stock worth $36,000 after purchasing an additional 1,000 shares during the period. Finally, Quarry LP acquired a new stake in shares of Rocket Lab during the fourth quarter worth $48,000. 71.78% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Frank Klein sold 44,885 shares of the business's stock in a transaction dated 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 owned 1,370,190 shares of the company's stock, valued at approximately $36,529,265.40. The trade was a 3.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Matthew Ocko sold 820,000 shares of the business's stock in a transaction dated 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 directly owned 1,083,053 shares of the company's stock, valued at $28,170,208.53. This represents a 43.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,130,995 shares of company stock worth $29,686,039 over the last quarter. 11.90% of the stock is currently owned by company insiders.

Rocket Lab Stock Performance

Rocket Lab stock traded up $0.48 during trading hours on Friday, reaching $44.69. 39,118,574 shares of the company were exchanged, compared to its average volume of 20,760,988. Rocket Lab Corporation has a 12 month low of $5.03 and a 12 month high of $53.44. The company has a current ratio of 2.08, a quick ratio of 1.72 and a debt-to-equity ratio of 0.97. The firm has a market cap of $20.62 billion, a price-to-earnings ratio of -99.31 and a beta of 2.17. The stock has a 50-day moving average of $37.55 and a 200 day moving average of $27.83.

Rocket Lab (NASDAQ:RKLB - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The rocket manufacturer reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.06). Rocket Lab had a negative return on equity of 56.25% and a negative net margin of 45.87%. The business had revenue of $144.50 million for the quarter, compared to analyst estimates of $135.42 million. During the same period in the prior year, the firm posted ($0.08) EPS. Rocket Lab's revenue for the quarter was up 35.9% on a year-over-year basis. As a group, research analysts anticipate that Rocket Lab Corporation will post -0.38 earnings per share for the current year.

Wall Street Analyst Weigh In

RKLB has been the topic of a number of recent analyst reports. Bank of America boosted their target price on Rocket Lab from $30.00 to $50.00 and gave the stock a "buy" rating in a research 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 price target on the stock. Needham & Company LLC boosted their target price on Rocket Lab from $45.00 to $55.00 and gave the company a "buy" rating in a research note on Friday. Stifel Nicolaus boosted their target price on Rocket Lab from $34.00 to $55.00 and gave the company a "buy" rating in a research note on Tuesday. Finally, KeyCorp boosted their price target on Rocket Lab from $40.00 to $50.00 and gave the stock an "overweight" rating in a research report on Friday. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $42.27.

Rocket Lab 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.