Nomura Asset Management Co. Ltd. Buys 41,551 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB)

Nomura Asset Management Co. Ltd. raised its stake in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 22.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 227,438 shares of the rocket manufacturer’s stock after acquiring an additional 41,551 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Rocket Lab USA were worth $2,213,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Citigroup Inc. increased its position in Rocket Lab USA by 46.8% in the 3rd quarter. Citigroup Inc. now owns 691,387 shares of the rocket manufacturer’s stock valued at $6,727,000 after buying an additional 220,432 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Rocket Lab USA by 22.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer’s stock valued at $28,006,000 after acquiring an additional 532,207 shares during the period. FORA Capital LLC bought a new stake in shares of Rocket Lab USA during the third quarter valued at approximately $449,000. Mizuho Markets Americas LLC acquired a new position in shares of Rocket Lab USA during the third quarter worth approximately $8,930,000. Finally, International Assets Investment Management LLC lifted its holdings in shares of Rocket Lab USA by 934.5% in the 3rd quarter. International Assets Investment Management LLC now owns 98,176 shares of the rocket manufacturer’s stock worth $10,090,000 after purchasing an additional 88,686 shares in the last quarter. Institutional investors and hedge funds own 71.78% of the company’s stock.

Rocket Lab USA Price Performance

Shares of NASDAQ RKLB opened at $24.42 on Friday. The company has a market capitalization of $12.21 billion, a PE ratio of -66.00 and a beta of 1.96. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. The stock’s 50 day moving average price is $16.57 and its 200-day moving average price is $9.55. Rocket Lab USA, Inc. has a twelve month low of $3.47 and a twelve month high of $28.10.

Insider Buying and Selling

In other news, Director Alexander R. Slusky sold 50,000 shares of Rocket Lab USA stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $23.00, for a total transaction of $1,150,000.00. Following the sale, the director now directly owns 534,675 shares in the company, valued at $12,297,525. The trade was a 8.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Frank Klein sold 35,968 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $24.15, for a total transaction of $868,627.20. Following the completion of the transaction, the insider now directly owns 1,464,032 shares in the company, valued at $35,356,372.80. This trade represents a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,114,530 shares of company stock worth $38,168,400. 13.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on RKLB shares. Citigroup boosted their price target on shares of Rocket Lab USA from $13.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Wells Fargo & Company upped their target price on shares of Rocket Lab USA from $13.50 to $22.00 and gave the stock an “equal weight” rating in a report on Wednesday. KeyCorp lifted their price target on Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. The Goldman Sachs Group increased their price objective on Rocket Lab USA from $5.00 to $12.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Finally, JMP Securities assumed coverage on Rocket Lab USA in a research report on Thursday, September 12th. They set a “market perform” rating on the stock. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $17.44.

Rocket Lab USA 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.