Bank of New York Mellon Corp Sells 30,512 Shares of Rocket Lab Corporation $RKLB

Bank of New York Mellon Corp decreased its position in shares of Rocket Lab Corporation (NASDAQ:RKLB) by 3.0% during the second quarter, Holdings Channel reports. The institutional investor owned 987,836 shares of the rocket manufacturer’s stock after selling 30,512 shares during the period. Bank of New York Mellon Corp’s holdings in Rocket Lab were worth $35,335,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Principal Financial Group Inc. raised its holdings in Rocket Lab by 475.7% during the first quarter. Principal Financial Group Inc. now owns 171,337 shares of the rocket manufacturer’s stock valued at $3,064,000 after acquiring an additional 141,577 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of Rocket Lab by 8.0% in the first quarter. Envestnet Asset Management Inc. now owns 23,496 shares of the rocket manufacturer’s stock worth $420,000 after acquiring an additional 1,749 shares during the period. Nisa Investment Advisors LLC raised its stake in Rocket Lab by 180.3% during the 1st quarter. Nisa Investment Advisors LLC now owns 26,040 shares of the rocket manufacturer’s stock valued at $466,000 after purchasing an additional 16,750 shares during the period. Xponance Inc. raised its stake in Rocket Lab by 7.5% during the 1st quarter. Xponance Inc. now owns 27,119 shares of the rocket manufacturer’s stock valued at $485,000 after purchasing an additional 1,890 shares during the period. Finally, Arizona State Retirement System lifted its holdings in Rocket Lab by 3.0% in the 1st quarter. Arizona State Retirement System now owns 96,561 shares of the rocket manufacturer’s stock worth $1,727,000 after purchasing an additional 2,837 shares in the last quarter. Institutional investors own 71.78% of the company’s stock.

Analyst Upgrades and Downgrades

RKLB has been the topic of several research analyst reports. Stifel Nicolaus reissued a “buy” rating and issued a $75.00 target price (up previously from $65.00) on shares of Rocket Lab in a report on Tuesday. Citigroup reiterated a “market perform” rating on shares of Rocket Lab in a report on Wednesday. Robert W. Baird assumed coverage on Rocket Lab in a research report on Wednesday, October 15th. They set an “outperform” rating and a $83.00 price objective for the company. Baird R W upgraded Rocket Lab to a “strong-buy” rating in a research report on Thursday, October 16th. Finally, Roth Capital reissued a “buy” rating and set a $75.00 price target on shares of Rocket Lab in a research note on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have issued a Hold rating and one has assigned 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 $57.33.

Insider Activity at Rocket Lab

In other news, Director Matthew Ocko sold 1,873,097 shares of the stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $48.20, for a total value of $90,283,275.40. Following the sale, the director directly owned 541,526 shares in the company, valued at approximately $26,101,553.20. This represents a 77.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Arjun Kampani sold 31,185 shares of the business’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $48.97, for a total value of $1,527,129.45. Following the transaction, the senior vice president owned 499,045 shares of the company’s stock, valued at approximately $24,438,233.65. The trade was a 5.88% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 5,406,361 shares of company stock worth $267,483,973 in the last three months. 11.90% of the stock is owned by insiders.

Rocket Lab Trading Down 9.4%

Shares of NASDAQ RKLB opened at $45.25 on Friday. Rocket Lab Corporation has a 1-year low of $14.71 and a 1-year high of $73.97. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.18 and a quick ratio of 2.33. The business’s 50 day moving average is $55.91 and its two-hundred day moving average is $42.59. The stock has a market capitalization of $21.90 billion, a P/E ratio of -119.08 and a beta of 2.16.

Rocket Lab (NASDAQ:RKLB) last announced its earnings results on Monday, November 10th. The rocket manufacturer reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. The firm had revenue of $155.08 million during the quarter, compared to analysts’ expectations of $152.45 million. Rocket Lab had a negative return on equity of 27.26% and a negative net margin of 35.64%.The company’s quarterly revenue was up 48.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.10) EPS. Rocket Lab has set its Q4 2025 guidance at EPS. As a group, research analysts expect that Rocket Lab Corporation will post -0.38 EPS for the current year.

About Rocket Lab

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.