Amova Asset Management Americas Inc. Cuts Stock Holdings in Rocket Lab Corporation $RKLB

Amova Asset Management Americas Inc. reduced its stake in Rocket Lab Corporation (NASDAQ:RKLB) by 4.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 493,908 shares of the rocket manufacturer’s stock after selling 23,652 shares during the period. Amova Asset Management Americas Inc. owned approximately 0.09% of Rocket Lab worth $31,694,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Swedbank AB boosted its position in shares of Rocket Lab by 8.2% in the 4th quarter. Swedbank AB now owns 509,250 shares of the rocket manufacturer’s stock worth $35,525,000 after purchasing an additional 38,770 shares in the last quarter. Vanguard Group Inc. lifted its position in Rocket Lab by 13.4% during the fourth quarter. Vanguard Group Inc. now owns 47,420,192 shares of the rocket manufacturer’s stock valued at $3,308,033,000 after purchasing an additional 5,610,469 shares during the period. Katamaran Capital LLP lifted its holdings in Rocket Lab by 86.2% in the first quarter. Katamaran Capital LLP now owns 19,808 shares of the rocket manufacturer’s stock valued at $1,272,000 after acquiring an additional 9,172 shares during the period. Westfield Capital Management Co. LP grew its position in Rocket Lab by 6.3% during the fourth quarter. Westfield Capital Management Co. LP now owns 2,592,443 shares of the rocket manufacturer’s stock valued at $180,849,000 after buying an additional 154,623 shares during the period. Finally, Baillie Gifford & Co. boosted its stake in shares of Rocket Lab by 47.2% during the 4th quarter. Baillie Gifford & Co. now owns 17,851,446 shares of the rocket manufacturer’s stock worth $1,245,317,000 after acquiring an additional 5,725,536 shares in the last quarter. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Analyst Ratings Changes

RKLB has been the subject of several recent analyst reports. Piper Sandler initiated coverage on shares of Rocket Lab in a report on Wednesday, July 15th. They issued a “neutral” rating and a $83.00 price target for the company. KGI Securities assumed coverage on Rocket Lab in a research report on Thursday, June 11th. They issued a “neutral” rating and a $105.00 target price on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $96.00 price target on shares of Rocket Lab in a research note on Tuesday, June 30th. TD Cowen boosted their price target on Rocket Lab from $90.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Finally, Citigroup reissued an “outperform” rating on shares of Rocket Lab in a research note on Tuesday, June 30th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $110.18.

Insider Activity at Rocket Lab

In other Rocket Lab news, CFO Adam C. Spice sold 62,744 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $142.57, for a total value of $8,945,412.08. Following the completion of the sale, the chief financial officer directly owned 983,049 shares in the company, valued at $140,153,295.93. This represents a 6.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Arjun Kampani sold 88,000 shares of Rocket Lab stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $107.98, for a total transaction of $9,502,240.00. Following the transaction, the senior vice president directly owned 264,705 shares in the company, valued at $28,582,845.90. This trade represents a 24.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,849,294 shares of company stock valued at $362,816,208 in the last three months. Company insiders own 8.40% of the company’s stock.

More Rocket Lab News

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

• Neutral Sentiment: Recent articles highlight that RKLB has been falling quickly, with traders and retail investors debating whether the stock is now oversold or still has further downside. Should You Buy Rocket Lab Stock Below $70?
• Neutral Sentiment: Despite the selloff, some retail investors remain bullish on Rocket Lab, arguing that a future catalyst could help the stock recover if execution improves. Reddit Still Believes in Rocket Lab Even as Shares Slide: Inside the Retail Sentiment
• Neutral Sentiment: One article noted Rocket Lab’s shares have declined more than the broader market in the latest session, underscoring the recent weak momentum in the name. Rocket Lab Corporation (RKLB) Declines More Than Market: Some Information for Investors
• Neutral Sentiment: Coverage also points to Rocket Lab’s growing competition with SpaceX, with investors watching whether RKLB can establish itself as a stronger direct rival in the space launch market. Rocket Lab’s Latest Deal Puts It on a Collision Course With SpaceX
• Negative Sentiment: Sentiment in one piece suggested that SpaceX-related market enthusiasm may be fading, which is spilling over into Rocket Lab and weighing on the stock. SpaceX’s IPO Shine Fades, Taking ASTS And RKLB With It — But There Are 2 Surprise Winners This Month

Rocket Lab Stock Down 2.8%

Shares of NASDAQ RKLB opened at $65.74 on Tuesday. The stock has a market cap of $38.05 billion, a PE ratio of -205.44 and a beta of 2.54. The company has a current ratio of 4.47, a quick ratio of 4.02 and a debt-to-equity ratio of 0.02. Rocket Lab Corporation has a 12-month low of $37.57 and a 12-month high of $151.00. The company has a 50-day moving average of $106.94 and a 200 day moving average of $87.24.

Rocket Lab (NASDAQ:RKLB) last released its earnings results on Thursday, May 7th. The rocket manufacturer reported ($0.07) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.07). Rocket Lab had a negative net margin of 26.87% and a negative return on equity of 11.72%. The business had revenue of $200.35 million for the quarter, compared to analyst estimates of $189.65 million. During the same period last year, the company posted ($0.12) EPS. The business’s revenue was up 63.4% on a year-over-year basis. As a group, sell-side analysts predict that Rocket Lab Corporation will post -0.26 EPS for the current fiscal year.

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.