Nan Fung Group Holdings Ltd Reduces Holdings in Rocket Lab Corporation $RKLB

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

Several other hedge funds also recently made changes to their positions in RKLB. Baillie Gifford & Co. grew its holdings in shares of Rocket Lab by 47.2% during the fourth quarter. Baillie Gifford & Co. now owns 17,851,446 shares of the rocket manufacturer’s stock worth $1,245,317,000 after purchasing an additional 5,725,536 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Rocket Lab by 13.4% during the fourth quarter. Vanguard Group Inc. now owns 47,420,192 shares of the rocket manufacturer’s stock worth $3,308,033,000 after purchasing an additional 5,610,469 shares during the last quarter. Norges Bank purchased a new position in shares of Rocket Lab during the fourth quarter worth about $341,036,000. Alliancebernstein L.P. grew its holdings in shares of Rocket Lab by 818.8% during the third quarter. Alliancebernstein L.P. now owns 2,190,132 shares of the rocket manufacturer’s stock worth $104,929,000 after purchasing an additional 1,951,755 shares during the last quarter. Finally, Capital World Investors grew its holdings in shares of Rocket Lab by 12.0% during the fourth quarter. Capital World Investors now owns 16,200,726 shares of the rocket manufacturer’s stock worth $1,130,172,000 after purchasing an additional 1,738,623 shares during the last quarter. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Trending Headlines about Rocket Lab

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 Performance

Shares of NASDAQ RKLB opened at $102.39 on Friday. The company has a market cap of $59.26 billion, a PE ratio of -319.97 and a beta of 2.49. Rocket Lab Corporation has a 12 month low of $25.24 and a 12 month high of $151.00. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.47 and a quick ratio of 4.02. The company has a 50-day simple moving average of $101.62 and a 200-day simple moving average of $81.03.

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

Analysts Set New Price Targets

Several brokerages have issued reports on RKLB. Craig Hallum raised Rocket Lab from a “hold” rating to a “buy” rating and set a $98.00 price objective on the stock in a report on Friday, May 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rocket Lab in a report on Tuesday, April 21st. TD Cowen raised their price target on Rocket Lab from $90.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Needham & Company LLC raised their price target on Rocket Lab from $95.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Rocket Lab from $73.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $99.24.

Insider Buying and Selling

In other Rocket Lab news, SVP Arjun Kampani sold 70,000 shares of the business’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $145.13, for a total value of $10,159,100.00. Following the completion of the transaction, the senior vice president directly owned 376,509 shares in the company, valued at approximately $54,642,751.17. The trade was a 15.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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, CFO Adam C. Spice sold 62,744 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $142.57, for a total value of $8,945,412.08. Following the completion of the transaction, the chief financial officer owned 983,049 shares of the company’s stock, valued at $140,153,295.93. This trade represents a 6.00% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 485,515 shares of company stock worth $66,909,882 in the last three months. 8.40% of the stock is currently owned by insiders.

About Rocket Lab

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.