HighTower Advisors LLC Sells 5,010 Shares of Rocket Lab Corporation $RKLB

HighTower Advisors LLC decreased its stake in shares of Rocket Lab Corporation (NASDAQ:RKLBFree Report) by 4.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 100,885 shares of the rocket manufacturer’s stock after selling 5,010 shares during the period. HighTower Advisors LLC’s holdings in Rocket Lab were worth $7,038,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Aventura Private Wealth LLC bought a new stake in Rocket Lab in the 4th quarter valued at about $25,000. UMB Bank n.a. boosted its holdings in Rocket Lab by 352.5% in the 3rd quarter. UMB Bank n.a. now owns 543 shares of the rocket manufacturer’s stock valued at $26,000 after purchasing an additional 423 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Rocket Lab by 109.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 796 shares of the rocket manufacturer’s stock valued at $28,000 after purchasing an additional 416 shares during the period. V Square Quantitative Management LLC bought a new stake in Rocket Lab in the 4th quarter valued at about $32,000. Finally, DecisionPoint Financial LLC boosted its holdings in Rocket Lab by 91.1% in the 4th quarter. DecisionPoint Financial LLC now owns 472 shares of the rocket manufacturer’s stock valued at $33,000 after purchasing an additional 225 shares during the period. Institutional investors own 71.78% of the company’s stock.

Key Rocket Lab News

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

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Needham & Company LLC boosted their price objective on shares of Rocket Lab from $95.00 to $120.00 and gave the company a “buy” rating in a report on Monday, May 11th. Stifel Nicolaus reissued a “buy” rating and issued a $105.00 price objective (up from $90.00) on shares of Rocket Lab in a report on Monday, April 20th. Wall Street Zen raised shares of Rocket Lab from a “sell” rating to a “hold” rating in a report on Sunday, February 8th. Citigroup reissued an “outperform” rating on shares of Rocket Lab in a report on Friday, May 8th. Finally, BTIG Research reissued a “hold” rating on shares of Rocket Lab in a report on Tuesday, May 12th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $97.19.

Check Out Our Latest Research Report on RKLB

Insider Buying and Selling

In other news, insider Frank Klein sold 44,482 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $69.59, for a total value of $3,095,502.38. Following the completion of the transaction, the insider directly owned 1,125,005 shares in the company, valued at approximately $78,289,097.95. The trade was a 3.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Arjun Kampani sold 28,761 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $69.59, for a total transaction of $2,001,477.99. Following the completion of the transaction, the senior vice president owned 421,699 shares of the company’s stock, valued at $29,346,033.41. The trade was a 6.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 333,449 shares of company stock worth $28,295,233. 8.40% of the stock is owned by company insiders.

Rocket Lab Price Performance

Shares of NASDAQ:RKLB opened at $143.20 on Wednesday. The firm has a 50 day moving average of $87.69 and a 200-day moving average of $74.41. The stock has a market capitalization of $82.88 billion, a PE ratio of -447.50 and a beta of 2.30. The company has a current ratio of 4.47, a quick ratio of 4.02 and a debt-to-equity ratio of 0.02. Rocket Lab Corporation has a 12 month low of $25.24 and a 12 month high of $146.00.

Rocket Lab (NASDAQ:RKLBGet Free Report) last issued its earnings results on Thursday, May 7th. The rocket manufacturer reported ($0.07) EPS for the quarter, meeting the consensus estimate of ($0.07). The company had revenue of $200.35 million during the quarter, compared to analysts’ expectations of $189.65 million. Rocket Lab had a negative net margin of 26.87% and a negative return on equity of 11.72%. The business’s revenue for the quarter was up 63.4% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.12) EPS. On average, equities research analysts predict that Rocket Lab Corporation will post -0.29 EPS for the current fiscal year.

About Rocket Lab

(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.

See Also

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

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