Capital Impact Advisors LLC grew its position in Rocket Lab Corporation (NASDAQ:RKLB – Free Report) by 47.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 452,728 shares of the rocket manufacturer’s stock after acquiring an additional 145,741 shares during the period. Rocket Lab makes up 2.5% of Capital Impact Advisors LLC’s portfolio, making the stock its 23rd biggest holding. Capital Impact Advisors LLC’s holdings in Rocket Lab were worth $31,582,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Aventura Private Wealth LLC acquired a new stake in shares of Rocket Lab in the fourth quarter valued at $25,000. Zions Bancorporation National Association UT acquired a new stake in shares of Rocket Lab in the fourth quarter valued at $28,000. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Rocket Lab in the fourth quarter valued at $29,000. Ankerstar Wealth LLC acquired a new stake in shares of Rocket Lab in the fourth quarter valued at $31,000. Finally, V Square Quantitative Management LLC acquired a new stake in shares of Rocket Lab in the fourth quarter valued at $32,000. 71.78% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on RKLB. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rocket Lab in a research note on Tuesday, April 21st. Stifel Nicolaus set a $132.00 target price on Rocket Lab in a research note on Thursday, June 4th. New Street Research started coverage on Rocket Lab in a research note on Wednesday, May 13th. They set a “buy” rating and a $150.00 target price for the company. BTIG Research reissued a “hold” rating on shares of Rocket Lab in a research note on Tuesday, May 12th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Rocket Lab from $73.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Three research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $102.76.
Rocket Lab Trading Up 3.2%
RKLB opened at $107.98 on Thursday. Rocket Lab Corporation has a 12 month low of $26.23 and a 12 month high of $151.00. The stock has a market capitalization of $62.49 billion, a price-to-earnings ratio of -337.44 and a beta of 2.49. 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 business has a fifty day moving average price of $104.00 and a 200 day moving average price of $82.68.
Rocket Lab (NASDAQ:RKLB – Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The rocket manufacturer reported ($0.07) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.07). The company had revenue of $200.35 million during the quarter, compared to the consensus estimate of $189.65 million. Rocket Lab had a negative return on equity of 11.72% and a negative net margin of 26.87%.Rocket Lab’s revenue for the quarter was up 63.4% on a year-over-year basis. During the same period in the previous year, the business earned ($0.12) EPS. Sell-side analysts expect that Rocket Lab Corporation will post -0.29 earnings per share for the current fiscal year.
More Rocket Lab News
Here are the key news stories impacting Rocket Lab this week:
- Positive Sentiment: Rocket Lab will join the Nasdaq-100 on June 22, a milestone that should increase institutional demand and index-related buying. Rocket Lab (RKLB) to Join Nasdaq-100 Index on June 22
- Positive Sentiment: Wall Street sentiment has improved, with analyst upgrades and higher price targets adding momentum ahead of the index inclusion. Why Rocket Lab (RKLB) Stock Is Up Today
- Positive Sentiment: Several recent articles argue Rocket Lab remains one of the stronger public space stocks, citing backlog growth, defense demand, and vertical integration as long-term positives for the business. Planet Labs vs. Rocket Lab: Which Space Stock Has an Edge?
- Neutral Sentiment: Some commentary suggests the stock is still expensive after a big run and may be vulnerable to valuation-based pullbacks if momentum slows. Jim Cramer on Rocket Lab: “While the Stock’s Cheaper Than SpaceX, It’s Still Pretty Darn Expensive”
- Negative Sentiment: Short-term traders have also noted that Rocket Lab has cooled from recent highs, with some pieces framing the move as a reversal after a strong rally. RKLB stock suffers a brutal reversal as a bullish pattern begins to take shape
Insider Activity at Rocket Lab
In other Rocket Lab news, insider Marvin Bradford Clevenger sold 3,500 shares of Rocket Lab stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $146.67, for a total transaction of $513,345.00. Following the completion of the sale, the insider directly owned 473,975 shares of the company’s stock, valued at $69,517,913.25. The trade was a 0.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Arjun Kampani sold 23,804 shares of Rocket Lab stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $147.43, for a total value of $3,509,423.72. Following the sale, the senior vice president directly owned 352,705 shares of the company’s stock, valued at $51,999,298.15. This trade represents a 6.32% 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. Insiders sold 485,515 shares of company stock worth $66,909,882 over the last three months. Company insiders own 8.40% of the company’s stock.
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.
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