Rocket Lab Corporation $RKLB Shares Sold by Cadent Capital Advisors LLC

Cadent Capital Advisors LLC trimmed its position in Rocket Lab Corporation (NASDAQ:RKLB) by 88.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,265 shares of the rocket manufacturer’s stock after selling 24,268 shares during the period. Cadent Capital Advisors LLC’s holdings in Rocket Lab were worth $228,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Reflection Asset Management acquired a new stake in Rocket Lab in the 4th quarter valued at approximately $30,000. Meeder Asset Management Inc. purchased a new stake in shares of Rocket Lab during the second quarter worth approximately $30,000. Highland Investment Advisors LLC purchased a new stake in shares of Rocket Lab during the 2nd quarter worth $30,000. NBH Bank acquired a new position in shares of Rocket Lab during the 2nd quarter worth about $30,000. Finally, Cherry Tree Wealth Management LLC acquired a new stake in Rocket Lab during the second quarter worth approximately $32,000. 71.78% of the stock is currently owned by hedge funds and other institutional investors.

Rocket Lab News Roundup

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

• Positive Sentiment: Barclays initiated coverage with an “overweight” rating and an $85 price target, implying meaningful upside from recent levels. The firm views aerospace and defense as being in the early stages of a broader industrial transformation. Rocket Lab Stock Eyes Rebound After Bullish Coverage
• Positive Sentiment: Neutron remains the primary long-term catalyst. Investor commentary suggests SpaceX’s growing satellite deployment needs could leave room for another reliable medium-lift provider if Rocket Lab delivers its Neutron rocket successfully. NASA is also considering Neutron alongside Falcon 9 for potential recurring launches supporting its planned lunar infrastructure program, although no award has been announced. Rocket Lab Gets a Fresh Opening in NASA’s Moon Push
• Positive Sentiment: The Iridium transaction could substantially expand Rocket Lab’s earnings base. The deal is reportedly fully funded without drawing on a $3.6 billion bridge loan and could add roughly $500 million in annual EBITDA before Neutron contributes. Rocket Lab: Iridium Could Explode EBITDA
• Neutral Sentiment: Rocket Lab is more than 50% below its 52-week high, prompting some analysts to argue that the stock could potentially double. However, that outlook depends heavily on successful Neutron development and execution. Wall Street Pro Predicts Rocket Lab Could Double
• Negative Sentiment: Investors remain concerned about dilution and profitability. The Iridium deal may involve up to 72 million new shares, while Rocket Lab has recently missed earnings expectations and remains unprofitable.
• Negative Sentiment: Competition and sentiment are unfavorable. Jim Cramer recently favored SpaceX over Rocket Lab, and a broader selloff in space stocks has pressured RKLB. The company also faces substantial execution risk because Neutron has not yet flown. Jim Cramer Draws a Line Between Rocket Lab and SpaceX

Insider Activity

In other Rocket Lab news, insider Frank Klein sold 35,558 shares of the company’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $66.61, for a total transaction of $2,368,518.38. Following the completion of the sale, the insider directly owned 925,737 shares in the company, valued at $61,663,341.57. This represents a 3.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Marvin Clevenger sold 15,051 shares of Rocket Lab stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $69.63, for a total value of $1,048,001.13. Following the completion of the transaction, the insider directly owned 458,924 shares in the company, valued at $31,954,878.12. This represents a 3.18% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 400,749 shares of company stock valued at $26,964,474 in the last 90 days. 8.40% of the stock is owned by corporate insiders.

Rocket Lab Trading Down 1.4%

Rocket Lab stock traded down $0.96 during trading on Friday, reaching $67.44. The company had a trading volume of 7,861,348 shares, compared to its average volume of 22,999,959. Rocket Lab Corporation has a 12-month low of $37.57 and a 12-month high of $151.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.98 and a current ratio of 5.48. The stock’s 50 day moving average price is $70.45 and its two-hundred day moving average price is $84.44. The firm has a market capitalization of $40.35 billion, a price-to-earnings ratio of -249.68 and a beta of 2.93.

Rocket Lab (NASDAQ:RKLB) last announced its quarterly earnings results on Monday, August 10th. The rocket manufacturer reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02). The company had revenue of $234.07 million during the quarter, compared to analyst estimates of $231.62 million. Rocket Lab had a negative net margin of 21.51% and a negative return on equity of 6.48%. As a group, equities analysts expect that Rocket Lab Corporation will post -0.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Rocket Lab in a research report on Friday, July 17th. Morgan Stanley reiterated an “overweight” rating on shares of Rocket Lab in a research report on Wednesday, July 8th. Craig Hallum raised their price target on shares of Rocket Lab from $98.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday, June 29th. KeyCorp reissued an “overweight” rating on shares of Rocket Lab in a research report on Tuesday, August 11th. Finally, Roth Capital set a $110.00 target price on shares of Rocket Lab in a research report on Tuesday, August 11th. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $104.71.

Rocket Lab Company Profile

Rocket Lab USA, Inc is a space and launch company that provides launch services, spacecraft, satellite components and other space systems for commercial, civil and national-security customers. The company designs and manufactures many of its products in-house, supporting missions from initial spacecraft development through launch and on-orbit operations.

Rocket Lab’s primary launch vehicle is Electron, a small-lift rocket designed to place satellites into low Earth orbit. The company also operates the HASTE suborbital test platform for hypersonic and other advanced aerospace technologies and is developing Neutron, a larger reusable rocket intended to serve commercial and government missions.