Rocket Lab Corporation $RKLB Position Trimmed by Firsthand Capital Management Inc.

Firsthand Capital Management Inc. lessened its stake in shares of Rocket Lab Corporation (NASDAQ:RKLB) by 14.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 60,000 shares of the rocket manufacturer’s stock after selling 10,000 shares during the period. Rocket Lab makes up about 7.8% of Firsthand Capital Management Inc.’s portfolio, making the stock its 4th biggest position. Firsthand Capital Management Inc.’s holdings in Rocket Lab were worth $4,186,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of RKLB. Aventura Private Wealth LLC acquired a new position in shares of Rocket Lab in the 4th quarter valued at $25,000. Zions Bancorporation National Association UT acquired a new position in Rocket Lab during the fourth quarter worth $28,000. Gordian Capital Singapore Pte Ltd acquired a new position in Rocket Lab during the fourth quarter worth $29,000. Ankerstar Wealth LLC acquired a new stake in shares of Rocket Lab in the fourth quarter valued at about $31,000. Finally, V Square Quantitative Management LLC acquired a new stake in shares of Rocket Lab in the fourth quarter valued at about $32,000. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Insider Transactions at Rocket Lab

In other Rocket Lab news, insider Frank Klein sold 44,390 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $142.57, for a total value of $6,328,682.30. Following the transaction, the insider directly owned 1,043,847 shares of the company’s stock, valued at $148,821,266.79. This represents a 4.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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, insider Marvin Bradford Clevenger sold 15,549 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $142.57, for a total value of $2,216,820.93. Following the sale, the insider directly owned 477,475 shares in the company, valued at approximately $68,073,610.75. This represents a 3.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 485,515 shares of company stock worth $66,909,882 over the last 90 days. 8.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on RKLB shares. Citizens Jmp upped their price objective on shares of Rocket Lab from $85.00 to $95.00 and gave the company a “market outperform” rating in a report on Friday, May 8th. Clear Str raised shares of Rocket Lab to a “strong-buy” rating in a research note on Wednesday, March 18th. New Street Research started coverage on shares of Rocket Lab in a research note on Wednesday, May 13th. They issued a “buy” rating and a $150.00 price objective for the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Rocket Lab in a research note on Wednesday, May 27th. Finally, KGI Securities assumed coverage on shares of Rocket Lab in a report on Thursday. They issued a “neutral” rating and a $105.00 target price on the stock. Three research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have assigned a Hold rating and one has given 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 target price of $99.24.

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 Trading Down 10.8%

NASDAQ:RKLB opened at $102.39 on Friday. The company has a market capitalization of $59.26 billion, a PE ratio of -319.97 and a beta of 2.49. The company has a quick ratio of 4.02, a current ratio of 4.47 and a debt-to-equity ratio of 0.02. Rocket Lab Corporation has a 52-week low of $25.24 and a 52-week high of $151.00. The stock has a fifty day simple moving average of $101.62 and a 200-day simple moving average of $81.03.

Rocket Lab (NASDAQ:RKLB) last announced its earnings results on Thursday, May 7th. The rocket manufacturer reported ($0.07) earnings per share for the quarter, meeting the consensus estimate of ($0.07). The firm 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 firm’s revenue for the quarter was up 63.4% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.12) EPS. On average, equities research analysts expect that Rocket Lab Corporation will post -0.29 earnings per share for the current fiscal year.

Rocket Lab Company 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.