126,624 Shares in Rocket Lab Corporation $RKLB Bought by Spear Advisors LLC

Spear Advisors LLC bought a new position in shares of Rocket Lab Corporation (NASDAQ:RKLB) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 126,624 shares of the rocket manufacturer’s stock, valued at approximately $8,833,000. Rocket Lab comprises approximately 6.2% of Spear Advisors LLC’s holdings, making the stock its 6th largest position.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Rocket Lab by 13.4% during the fourth 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 during the last quarter. Baillie Gifford & Co. increased its holdings in Rocket Lab by 47.2% during the fourth quarter. Baillie Gifford & Co. now owns 17,851,446 shares of the rocket manufacturer’s stock worth $1,245,317,000 after buying an additional 5,725,536 shares during the last quarter. Capital World Investors increased its holdings in Rocket Lab by 12.0% during the fourth quarter. Capital World Investors now owns 16,200,726 shares of the rocket manufacturer’s stock worth $1,130,172,000 after buying an additional 1,738,623 shares during the last quarter. State Street Corp increased its holdings in Rocket Lab by 1.0% during the fourth quarter. State Street Corp now owns 12,520,223 shares of the rocket manufacturer’s stock worth $873,411,000 after buying an additional 120,652 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Rocket Lab by 10.1% during the fourth quarter. Geode Capital Management LLC now owns 9,004,724 shares of the rocket manufacturer’s stock worth $626,605,000 after buying an additional 825,158 shares during the last quarter. 71.78% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Rocket Lab

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

• Positive Sentiment: Rocket Lab’s strong Q1 results and raised outlook are still driving buying interest, as the company beat revenue expectations and issued guidance that came in well above forecasts. Rocket Lab (RKLB) Stock Trades Up, Here Is Why
• Positive Sentiment: Needham’s higher price target and upbeat analyst commentary added to the momentum, signaling Wall Street sees more upside after the earnings beat. Why Is Rocket Lab Stock Surging On Wednesday?
• Positive Sentiment: Investors are also betting on Rocket Lab’s Neutron launch later this year, which could expand the company’s role in the medium-lift rocket market and broaden its revenue opportunity. Rocket Lab Stock Is Getting a Major Lift. Investors Are Betting on Its Neutron Launch Later This Year.
• Positive Sentiment: New business wins and strategic work with defense partner Anduril on hypersonics support the view that Rocket Lab’s technology is gaining broader commercial and defense traction. Anduril Hires Rocket Lab to Help It With Hypersonics
• Neutral Sentiment: Broader space-sector enthusiasm, including chatter around a potential SpaceX IPO and orbital data-center projects, has lifted the group and helped keep RKLB in focus. Space Stocks Jump As SpaceX, Google Explore Orbital Data Center Deal
• Negative Sentiment: After the sharp run-up, some articles are questioning valuation and whether investors should take profits, while noting execution risks around Neutron development and supply-chain constraints. Rocket Lab Stock Advances 74% in 3 Months: Time to Take Profits?

Insider Activity

In other Rocket Lab news, Director Merline Saintil sold 18,126 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $19,653,201.12. The trade was a 6.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Frank Klein sold 44,482 shares of the business’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $69.59, for a total value of $3,095,502.38. Following the transaction, the insider directly owned 1,125,005 shares of the company’s stock, valued at approximately $78,289,097.95. The trade was a 3.80% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 233,449 shares of company stock valued at $16,487,233. Corporate insiders own 8.40% of the company’s stock.

Analysts Set New Price Targets

RKLB has been the topic of a number of recent analyst reports. Cantor Fitzgerald restated an “overweight” rating and set a $85.00 target price on shares of Rocket Lab in a report on Friday, March 13th. Zacks Research downgraded shares of Rocket Lab from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 10th. Morgan Stanley upgraded shares of Rocket Lab from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $67.00 to $105.00 in a report on Friday, January 16th. Wells Fargo & Company started coverage on shares of Rocket Lab in a report on Wednesday, April 1st. They issued an “equal weight” rating and a $60.00 price objective on the stock. Finally, Craig Hallum upgraded shares of Rocket Lab from a “hold” rating to a “buy” rating and set a $98.00 price objective on the stock in a report on Friday, May 8th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.67.

Rocket Lab Trading Up 5.6%

Shares of Rocket Lab stock opened at $124.15 on Thursday. The firm has a 50-day moving average of $76.51 and a 200-day moving average of $69.96. The stock has a market cap of $70.69 billion, a PE ratio of -387.97 and a beta of 2.30. Rocket Lab Corporation has a 52-week low of $21.86 and a 52-week high of $127.24. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.02 and a current ratio of 4.47.

Rocket Lab (NASDAQ:RKLB) last posted its quarterly earnings data on Thursday, May 7th. The rocket manufacturer reported ($0.07) earnings per share for the quarter, hitting the consensus estimate of ($0.07). Rocket Lab had a negative net margin of 26.87% and a negative return on equity of 11.72%. The business had revenue of $200.35 million during the quarter, compared to analysts’ expectations of $189.65 million. During the same quarter in the prior year, the business posted ($0.12) earnings per share. Rocket Lab’s revenue was up 63.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Rocket Lab Corporation will post -0.22 EPS for the current 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.