Nomura Asset Management Co. Ltd. Has $2.21 Million Position in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Nomura Asset Management Co. Ltd. lifted its stake in Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) by 22.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 227,438 shares of the rocket manufacturer's stock after purchasing an additional 41,551 shares during the period. Nomura Asset Management Co. Ltd.'s holdings in Rocket Lab USA were worth $2,213,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC bought a new stake in shares of Rocket Lab USA during the 2nd quarter valued at $46,000. Amalgamated Bank lifted its stake in Rocket Lab USA by 26.7% in the second quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer's stock valued at $58,000 after buying an additional 2,538 shares during the period. CIBC Asset Management Inc bought a new position in Rocket Lab USA during the second quarter worth about $67,000. Sanctuary Advisors LLC bought a new position in Rocket Lab USA during the second quarter worth about $76,000. Finally, National Bank of Canada FI grew its position in shares of Rocket Lab USA by 97.8% during the 2nd quarter. National Bank of Canada FI now owns 20,230 shares of the rocket manufacturer's stock worth $92,000 after buying an additional 10,000 shares during the period. Institutional investors and hedge funds own 71.78% of the company's stock.

Rocket Lab USA Stock Up 8.1 %

NASDAQ RKLB traded up $1.84 during trading hours on Friday, hitting $24.42. 18,758,537 shares of the company traded hands, compared to its average volume of 25,292,344. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58. The business's 50-day moving average is $16.57 and its 200-day moving average is $9.59. The stock has a market capitalization of $12.21 billion, a price-to-earnings ratio of -66.00 and a beta of 1.96. Rocket Lab USA, Inc. has a twelve month low of $3.47 and a twelve month high of $28.10.

Analyst Ratings Changes

RKLB has been the topic of several recent analyst reports. Wells Fargo & Company lifted their price objective on shares of Rocket Lab USA from $13.50 to $22.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Citigroup boosted their price objective on Rocket Lab USA from $13.00 to $22.00 and gave the company a "buy" rating in a research report on Monday, November 18th. JMP Securities initiated coverage on shares of Rocket Lab USA in a research note on Thursday, September 12th. They issued a "market perform" rating on the stock. KeyCorp increased their price objective on shares of Rocket Lab USA from $11.00 to $12.00 and gave the stock an "overweight" rating in a research report on Thursday, October 24th. Finally, Stifel Nicolaus boosted their price objective on shares of Rocket Lab USA from $15.00 to $22.00 and gave the company a "buy" rating in a research report on Wednesday, November 13th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $17.44.

Insider Activity

In other Rocket Lab USA news, Director Matthew Ocko sold 2,000,000 shares of the company's stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $17.73, for a total value of $35,460,000.00. Following the sale, the director now owns 2,351,135 shares in the company, valued at $41,685,623.55. This represents a 45.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Frank Klein sold 35,968 shares of Rocket Lab USA stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $24.15, for a total value of $868,627.20. Following the transaction, the insider now owns 1,464,032 shares of the company's stock, valued at $35,356,372.80. This represents a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,114,530 shares of company stock valued at $38,168,400. 13.70% of the stock is owned by insiders.

About Rocket Lab USA

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.