Rocket Lab Corporation $RKLB Shares Sold by Nan Fung Group Holdings Ltd

Nan Fung Group Holdings Ltd cut its holdings in Rocket Lab Corporation (NASDAQ:RKLB) by 87.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 3,824 shares of the rocket manufacturer’s stock after selling 25,716 shares during the period. Rocket Lab accounts for about 0.2% of Nan Fung Group Holdings Ltd’s holdings, making the stock its 26th biggest position. Nan Fung Group Holdings Ltd’s holdings in Rocket Lab were worth $267,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Aventura Private Wealth LLC acquired a new stake in shares of Rocket Lab during the 4th quarter worth $25,000. Zions Bancorporation National Association UT acquired a new stake in shares of Rocket Lab during the 4th quarter worth $28,000. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Rocket Lab during the 4th quarter worth $29,000. Ankerstar Wealth LLC acquired a new stake in shares of Rocket Lab during the 4th quarter worth $31,000. Finally, V Square Quantitative Management LLC acquired a new stake in shares of Rocket Lab during the 4th quarter worth $32,000. 71.78% of the stock is currently owned by institutional investors and hedge funds.

Key Rocket Lab News

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

• Positive Sentiment: Rocket Lab announced that it will join the Nasdaq-100 Index, effective June 22. That inclusion is a bullish technical and sentiment driver because it can increase visibility, attract index-tracking funds, and broaden institutional demand. Rocket Lab To Join The Nasdaq-100 Index
• Positive Sentiment: Several reports note that RKLB is benefiting from a “halo trade” in space stocks tied to SpaceX’s historic public debut, with traders rotating into space-related names as the industry gets more attention. Why Rocket Lab (RKLB) Stock Is Up Today
• Positive Sentiment: Rocket Lab’s recent business momentum also supports the stock, with Q1 revenue up 63.4% year over year to $200.35 million and results beating revenue estimates, reinforcing the growth story behind the company. Rocket Lab To Join The Nasdaq-100 Index
• Neutral Sentiment: Commentary from analysts and media has turned more upbeat on the stock, but much of the move appears to be driven by index inclusion and sector momentum rather than a new operating update. Space Stock Rocket Lab and 4 Others Are Joining the Nasdaq 100
• Negative Sentiment: Near-term volatility could stay elevated because the stock has also been caught in broader space-stock swings around SpaceX’s debut, and some traders are treating the group as a relative-value trade rather than a pure Rocket Lab fundamental story. Virgin Galactic Craters 24%, Rocket Lab Drops 8%, AST SpaceMobile Falls 10% as SpaceX Hype Triggers a Space-Stock Shakeout

Rocket Lab Stock Down 10.8%

Shares of NASDAQ RKLB opened at $102.39 on Friday. Rocket Lab Corporation has a 12-month low of $25.24 and a 12-month high of $151.00. The company has a market cap of $59.26 billion, a P/E ratio of -319.97 and a beta of 2.49. The company has a current ratio of 4.47, a quick ratio of 4.02 and a debt-to-equity ratio of 0.02. The stock has a fifty day moving average price of $101.62 and a 200 day moving average price of $81.03.

Rocket Lab (NASDAQ:RKLB) last announced its quarterly earnings results on Thursday, May 7th. The rocket manufacturer reported ($0.07) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.07). Rocket Lab had a negative return on equity of 11.72% and a negative net margin of 26.87%.The firm had revenue of $200.35 million during the quarter, compared to the consensus estimate of $189.65 million. During the same period in the prior year, the firm earned ($0.12) EPS. The firm’s quarterly revenue was up 63.4% compared to the same quarter last year. Research analysts anticipate that Rocket Lab Corporation will post -0.29 EPS for the current fiscal year.

Analyst Ratings Changes

RKLB has been the subject of a number of research analyst reports. Clear Str upgraded Rocket Lab to a “strong-buy” rating in a report on Wednesday, March 18th. Stifel Nicolaus set a $132.00 price objective on Rocket Lab in a report on Thursday, June 4th. Citigroup restated an “outperform” rating on shares of Rocket Lab in a report on Friday, May 8th. Cantor Fitzgerald restated an “overweight” rating on shares of Rocket Lab in a report on Wednesday, May 27th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Rocket Lab from $73.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $99.24.

Insider Transactions at Rocket Lab

In related news, Director Alexander R. Slusky sold 40,000 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $123.60, for a total value of $4,944,000.00. Following the completion of the sale, the director directly owned 334,675 shares in the company, valued at approximately $41,365,830. This represents a 10.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Arjun Kampani sold 23,804 shares of the stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $147.43, for a total value of $3,509,423.72. Following the completion of the sale, the senior vice president owned 352,705 shares of the company’s stock, valued at approximately $51,999,298.15. This represents a 6.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 485,515 shares of company stock worth $66,909,882 in the last quarter. 8.40% of the stock is owned by corporate insiders.

Rocket Lab Profile

Rocket Lab is an aerospace company that provides launch services, spacecraft, and space systems for commercial and government customers. The company’s primary launch vehicle is Electron, a small-lift orbital rocket designed to deploy small satellites and rideshare payloads to low Earth orbit. Rocket Lab also develops and manufactures the Rutherford engine, noted for its electric-pump-fed design and additive-manufactured components, which powers Electron and supports the company’s propulsion capabilities.