Rocket Lab Corporation (NASDAQ:RKLB – Get Free Report) traded up 6.7% during mid-day trading on Monday . The stock traded as high as $110.78 and last traded at $109.25. 28,690,598 shares were traded during trading, an increase of 18% from the average session volume of 24,339,313 shares. The stock had previously closed at $102.39.
Key Rocket Lab News
Here are the key news stories impacting Rocket Lab this week:
- Positive Sentiment: KeyBanc upgraded Rocket Lab to Overweight from Sector Weight/Hold, saying the recent selloff in space stocks was overdone and that RKLB is a strong way to play commercial space growth. Why Is Rocket Lab Stock Trading Higher On Monday?
- Positive Sentiment: Analyst Michael Leshock highlighted strong NASA-driven demand and improving launch momentum, which supports higher revenue expectations and strengthens the bull case for the next 12 months. This Analyst Just Upgraded Rocket Lab Stock. Here’s Why.
- Positive Sentiment: Investors are rotating back into space names after last week’s post-IPO shakeout in SpaceX, and several reports say the sector’s pullback was “unwarranted,” lifting sentiment across RKLB and peers. These 2 space stocks were upgraded at KeyBanc today
- Neutral Sentiment: Separate coverage noted Rocket Lab is preparing for a busy launch cadence and that analysts remain broadly constructive, but these items are more supportive context than immediate new catalysts. RKLB Stock Jumps Overnight: Rocket Lab Lines Up Record Launch Blitz After Nasdaq-100 Entry
Analyst Upgrades and Downgrades
Several analysts have recently commented on RKLB shares. Deutsche Bank Aktiengesellschaft increased their price objective on Rocket Lab from $73.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Needham & Company LLC increased their price objective on Rocket Lab from $95.00 to $120.00 and gave the company a “buy” rating in a report on Monday, May 11th. TD Cowen increased their price objective on Rocket Lab from $90.00 to $120.00 and gave the company a “buy” rating in a report on Friday, May 8th. KeyCorp upgraded Rocket Lab from a “sector weight” rating to an “overweight” rating and set a $135.00 price objective for the company in a report on Monday. Finally, Citizens Jmp increased their price objective on Rocket Lab from $85.00 to $95.00 and gave the company a “market outperform” rating in a report on Friday, May 8th. Three analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.76.
Rocket Lab Stock Performance
The firm has a fifty day moving average price of $101.62 and a 200 day moving average price of $81.30. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.02 and a current ratio of 4.47. The stock has a market cap of $63.23 billion, a PE ratio of -341.41 and a beta of 2.49.
Rocket Lab (NASDAQ:RKLB – Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The rocket manufacturer reported ($0.07) 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 analyst estimates of $189.65 million. During the same quarter in the prior year, the business posted ($0.12) EPS. The business’s revenue for the quarter was up 63.4% compared to the same quarter last year. Research analysts forecast that Rocket Lab Corporation will post -0.29 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, SVP Arjun Kampani sold 70,000 shares of the firm’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 owned 376,509 shares in the company, valued at $54,642,751.17. This trade represents a 15.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at 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, insider Frank Klein sold 44,390 shares of the firm’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 $6,328,682.30. Following the completion of the transaction, the insider owned 1,043,847 shares of the company’s stock, valued at $148,821,266.79. This trade represents a 4.08% decrease in their position. 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 have sold a total of 485,515 shares of company stock worth $66,909,882 over the last three months. Corporate insiders own 8.40% of the company’s stock.
Hedge Funds Weigh In On Rocket Lab
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RKLB. Swedbank AB increased its stake in Rocket Lab by 8.2% during the 4th quarter. Swedbank AB now owns 509,250 shares of the rocket manufacturer’s stock worth $35,525,000 after buying an additional 38,770 shares in the last quarter. Firsthand Capital Management Inc. increased its stake in Rocket Lab by 40.0% during the 3rd quarter. Firsthand Capital Management Inc. now owns 70,000 shares of the rocket manufacturer’s stock worth $3,354,000 after buying an additional 20,000 shares in the last quarter. Swiss National Bank increased its stake in Rocket Lab by 67.7% during the 3rd quarter. Swiss National Bank now owns 1,243,630 shares of the rocket manufacturer’s stock worth $59,582,000 after buying an additional 501,830 shares in the last quarter. Vanguard Group Inc. increased its stake in Rocket Lab by 13.4% during the 4th quarter. Vanguard Group Inc. now owns 47,420,192 shares of the rocket manufacturer’s stock worth $3,308,033,000 after buying an additional 5,610,469 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D increased its stake in Rocket Lab by 14.4% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 153,106 shares of the rocket manufacturer’s stock worth $7,335,000 after buying an additional 19,304 shares in the last quarter. Hedge funds and other institutional investors own 71.78% of the company’s stock.
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.
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