5,670 Shares in Rocket Lab Corporation $RKLB Acquired by Hunter Associates Investment Management LLC

Hunter Associates Investment Management LLC purchased a new position in shares of Rocket Lab Corporation (NASDAQ:RKLBFree Report) during the first quarter, HoldingsChannel.com reports. The fund purchased 5,670 shares of the rocket manufacturer’s stock, valued at approximately $361,000.

A number of other hedge funds also recently made changes to their positions in RKLB. AQR Capital Management LLC raised its position in shares of Rocket Lab by 114.0% in the 1st quarter. AQR Capital Management LLC now owns 174,308 shares of the rocket manufacturer’s stock worth $3,117,000 after buying an additional 92,849 shares during the period. NewEdge Advisors LLC increased its stake in Rocket Lab by 1,812.1% during the first quarter. NewEdge Advisors LLC now owns 36,807 shares of the rocket manufacturer’s stock worth $658,000 after acquiring an additional 34,882 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in shares of Rocket Lab by 53.8% in the 1st quarter. Jones Financial Companies Lllp now owns 15,745 shares of the rocket manufacturer’s stock worth $282,000 after purchasing an additional 5,507 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Rocket Lab by 13.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 773,548 shares of the rocket manufacturer’s stock worth $13,831,000 after purchasing an additional 90,758 shares during the period. Finally, Focus Partners Wealth grew its holdings in shares of Rocket Lab by 1.0% during the 1st quarter. Focus Partners Wealth now owns 67,584 shares of the rocket manufacturer’s stock worth $1,206,000 after purchasing an additional 681 shares during the period. Institutional investors and hedge funds own 71.78% of the company’s stock.

Key Rocket Lab News

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

Wall Street Analyst Weigh In

RKLB has been the subject of a number of research analyst reports. Citizens Jmp increased their target price on shares of Rocket Lab from $95.00 to $130.00 and gave the stock a “market outperform” rating in a research report on Tuesday, June 30th. BTIG Research reiterated a “hold” rating on shares of Rocket Lab in a research note on Tuesday, May 12th. Bank of America raised their target price on shares of Rocket Lab from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, June 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rocket Lab in a research report on Tuesday, April 21st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $96.00 price target on shares of Rocket Lab in a report on Tuesday, June 30th. Three investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Rocket Lab presently has an average rating of “Moderate Buy” and a consensus target price of $108.24.

Get Our Latest Stock Report on RKLB

Insider Buying and Selling at Rocket Lab

In other Rocket Lab news, Director Alexander R. Slusky sold 40,000 shares of Rocket Lab stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $123.60, for a total transaction of $4,944,000.00. Following the sale, the director directly owned 334,675 shares in the company, valued at $41,365,830. The trade was a 10.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Arjun Kampani sold 88,000 shares of the stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $107.98, for a total value of $9,502,240.00. Following the transaction, the senior vice president owned 264,705 shares of the company’s stock, valued at approximately $28,582,845.90. This trade represents a 24.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 573,515 shares of company stock valued at $76,412,122. Company insiders own 8.40% of the company’s stock.

Rocket Lab Stock Performance

NASDAQ RKLB opened at $100.46 on Monday. The stock has a market cap of $58.14 billion, a P/E ratio of -313.94 and a beta of 2.54. The company’s fifty day simple moving average is $108.81 and its 200-day simple moving average is $86.56. 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 52 week low of $35.25 and a 52 week high of $151.00.

Rocket Lab (NASDAQ:RKLBGet Free Report) last released its quarterly earnings results on Thursday, May 7th. The rocket manufacturer reported ($0.07) earnings per share for the quarter, meeting analysts’ consensus estimates 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 analyst estimates of $189.65 million. During the same period last year, the business earned ($0.12) EPS. The business’s revenue was up 63.4% on a year-over-year basis. Equities research analysts predict that Rocket Lab Corporation will post -0.29 EPS for the current fiscal year.

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

Want to see what other hedge funds are holding RKLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rocket Lab Corporation (NASDAQ:RKLBFree Report).

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

Receive News & Ratings for Rocket Lab Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rocket Lab and related companies with MarketBeat.com's FREE daily email newsletter.