Jones Financial Companies Lllp Increases Stock Holdings in Rocket Lab Corporation $RKLB

Jones Financial Companies Lllp boosted its holdings in Rocket Lab Corporation (NASDAQ:RKLBFree Report) by 122.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,690 shares of the rocket manufacturer’s stock after purchasing an additional 26,225 shares during the quarter. Jones Financial Companies Lllp’s holdings in Rocket Lab were worth $2,206,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new stake in Rocket Lab in the 3rd quarter valued at about $25,000. Hara Capital LLC acquired a new stake in shares of Rocket Lab in the third quarter worth approximately $25,000. UMB Bank n.a. boosted its position in shares of Rocket Lab by 352.5% in the third quarter. UMB Bank n.a. now owns 543 shares of the rocket manufacturer’s stock worth $26,000 after acquiring an additional 423 shares during the last quarter. Sound Income Strategies LLC purchased a new stake in Rocket Lab in the third quarter valued at approximately $27,000. Finally, Financial Consulate Inc. acquired a new position in Rocket Lab during the third quarter worth approximately $35,000. 71.78% of the stock is owned by institutional investors and hedge funds.

More Rocket Lab News

Here are the key news stories impacting Rocket Lab this week:

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Rocket Lab in a research note on Wednesday, December 3rd. KeyCorp lowered Rocket Lab from an “overweight” rating to a “sector weight” rating in a research report on Thursday, January 15th. Wall Street Zen upgraded Rocket Lab from a “sell” rating to a “hold” rating in a report on Sunday. Needham & Company LLC raised their price objective on Rocket Lab from $63.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, December 23rd. Finally, The Goldman Sachs Group boosted their target price on Rocket Lab from $47.00 to $69.00 and gave the stock a “neutral” rating in a report on Tuesday, January 20th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $72.92.

Read Our Latest Report on RKLB

Rocket Lab Stock Up 9.0%

Shares of NASDAQ:RKLB opened at $72.32 on Monday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.83 and a current ratio of 3.18. Rocket Lab Corporation has a 1-year low of $14.71 and a 1-year high of $99.58. The company’s fifty day moving average is $73.03 and its two-hundred day moving average is $58.53. The stock has a market capitalization of $38.63 billion, a price-to-earnings ratio of -190.32 and a beta of 2.16.

Rocket Lab (NASDAQ:RKLBGet Free Report) last issued its earnings results on Monday, November 10th. The rocket manufacturer reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. The firm had revenue of $155.08 million for the quarter, compared to analysts’ expectations of $152.45 million. Rocket Lab had a negative net margin of 35.64% and a negative return on equity of 27.26%. Rocket Lab’s revenue was up 48.0% on a year-over-year basis. During the same quarter last year, the company posted ($0.10) earnings per share. Equities analysts anticipate that Rocket Lab Corporation will post -0.38 EPS for the current year.

Insider Buying and Selling at Rocket Lab

In related news, CFO Adam C. Spice sold 1,365,665 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $75.50, for a total value of $103,107,707.50. Following the sale, the chief financial officer owned 1,359,568 shares of the company’s stock, valued at approximately $102,647,384. This trade represents a 50.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Frank Klein sold 100,000 shares of the company’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $72.95, for a total value of $7,295,000.00. Following the transaction, the insider owned 1,169,487 shares of the company’s stock, valued at approximately $85,314,076.65. The trade was a 7.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 4,306,150 shares of company stock worth $271,865,732. Corporate insiders own 11.90% of the company’s stock.

Rocket Lab Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Rocket Lab (NASDAQ:RKLB)

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