Rocket Lab Corporation $RKLB Stake Raised by Wealthfront Advisers LLC

Wealthfront Advisers LLC grew its holdings in shares of Rocket Lab Corporation (NASDAQ:RKLB) by 16.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 117,662 shares of the rocket manufacturer’s stock after buying an additional 16,985 shares during the period. Wealthfront Advisers LLC’s holdings in Rocket Lab were worth $8,208,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB bought a new stake in shares of Rocket Lab during the third quarter valued at approximately $25,000. Hara Capital LLC bought a new stake in shares of Rocket Lab during the third quarter valued at approximately $25,000. Aventura Private Wealth LLC bought a new stake in shares of Rocket Lab during the fourth quarter valued at approximately $25,000. UMB Bank n.a. raised its holdings in shares of Rocket Lab by 352.5% during the third quarter. UMB Bank n.a. now owns 543 shares of the rocket manufacturer’s stock valued at $26,000 after buying an additional 423 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Rocket Lab by 109.5% during the second quarter. EverSource Wealth Advisors LLC now owns 796 shares of the rocket manufacturer’s stock valued at $28,000 after buying an additional 416 shares during the last quarter. Institutional investors own 71.78% of the company’s stock.

Rocket Lab Trading Down 2.0%

Rocket Lab stock opened at $77.02 on Thursday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.61 and a current ratio of 4.08. The firm has a market cap of $43.86 billion, a price-to-earnings ratio of -208.16 and a beta of 2.20. Rocket Lab Corporation has a 1 year low of $20.23 and a 1 year high of $99.58. The firm’s 50 day moving average price is $72.14 and its two-hundred day moving average price is $68.10.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on RKLB shares. Wall Street Zen raised Rocket Lab from a “sell” rating to a “hold” rating in a report on Sunday, February 8th. Roth Mkm lifted their price target on Rocket Lab from $90.00 to $100.00 and gave the company a “buy” rating in a report on Friday, April 17th. Stifel Nicolaus reaffirmed a “buy” rating and set a $105.00 price target (up from $90.00) on shares of Rocket Lab in a report on Monday, April 20th. Needham & Company LLC cut their price target on Rocket Lab from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Finally, Citizens Jmp raised Rocket Lab from a “market perform” rating to an “outperform” rating and set a $85.00 price target on the stock in a report on Tuesday, April 7th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $83.31.

Insider Transactions at Rocket Lab

In other Rocket Lab news, insider Frank Klein sold 44,482 shares of Rocket Lab stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $69.59, for a total value of $3,095,502.38. Following the transaction, the insider owned 1,125,005 shares in the company, valued at approximately $78,289,097.95. The trade was a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Merline Saintil sold 18,126 shares of Rocket Lab stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $75.04, for a total transaction of $1,360,175.04. Following the completion of the transaction, the director owned 261,903 shares in the company, valued at approximately $19,653,201.12. This trade represents a 6.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 233,449 shares of company stock valued at $16,487,233 in the last 90 days. 8.40% of the stock is owned by corporate 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.