Wealthfront Advisers LLC grew its position in Rocket Lab Corporation (NASDAQ:RKLB – Free Report) by 62.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 191,529 shares of the rocket manufacturer’s stock after purchasing an additional 73,867 shares during the period. Wealthfront Advisers LLC’s holdings in Rocket Lab were worth $12,300,000 as of its most recent filing with the SEC.
Other large investors have also made changes to their positions in the company. Swedbank AB raised its stake in shares of Rocket Lab by 8.2% in the fourth quarter. Swedbank AB now owns 509,250 shares of the rocket manufacturer’s stock valued at $35,525,000 after acquiring an additional 38,770 shares during the last quarter. Vanguard Group Inc. grew its position in Rocket Lab by 13.4% during the 4th quarter. Vanguard Group Inc. now owns 47,420,192 shares of the rocket manufacturer’s stock worth $3,308,033,000 after acquiring an additional 5,610,469 shares during the last quarter. Katamaran Capital LLP increased its holdings in Rocket Lab by 86.2% during the 1st quarter. Katamaran Capital LLP now owns 19,808 shares of the rocket manufacturer’s stock valued at $1,272,000 after purchasing an additional 9,172 shares in the last quarter. Westfield Capital Management Co. LP increased its holdings in Rocket Lab by 6.3% during the 4th quarter. Westfield Capital Management Co. LP now owns 2,592,443 shares of the rocket manufacturer’s stock valued at $180,849,000 after purchasing an additional 154,623 shares in the last quarter. Finally, Baillie Gifford & Co. raised its position in Rocket Lab by 47.2% in the 4th quarter. Baillie Gifford & Co. now owns 17,851,446 shares of the rocket manufacturer’s stock valued at $1,245,317,000 after purchasing an additional 5,725,536 shares during the last quarter. Institutional investors own 71.78% of the company’s stock.
More Rocket Lab News
Here are the key news stories impacting Rocket Lab this week:
- Positive Sentiment: Rocket Lab continues to report strong business momentum, including rapid revenue growth, a large backlog, and progress toward becoming an end-to-end space company. The company is also building out launch infrastructure and expanding its defense-related opportunity set, including potential upside from the Space Force’s NSSL launch program if Neutron succeeds. Article Title
- Positive Sentiment: Analysts have pointed to Rocket Lab’s recent acquisitions and growing position in the space industry as reasons for long-term optimism, with some still maintaining bullish views despite the selloff. Article Title
- Neutral Sentiment: Several articles are comparing Rocket Lab with peers like AST SpaceMobile and SpaceX, reinforcing that RKLB remains a high-profile name in a speculative sector, but not providing a major new company-specific catalyst. Article Title
- Negative Sentiment: Piper Sandler initiated coverage with a Neutral rating and an $83 price target, which disappointed some investors and added to pressure on the shares. Article Title
- Negative Sentiment: Investors are also reacting to concerns about dilution, a recent CEO share sale, and the stock’s stretched valuation after a huge run earlier in the year. Several commentaries now argue that space stocks, including Rocket Lab, may be too speculative at current levels. Article Title
Insiders Place Their Bets
Analyst Upgrades and Downgrades
A number of equities analysts have commented on the company. Citizens Jmp boosted their price objective on Rocket Lab from $95.00 to $130.00 and gave the stock a “market outperform” rating in a research note on Tuesday, June 30th. Craig Hallum raised their target price on Rocket Lab from $98.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, June 29th. Morgan Stanley reaffirmed an “overweight” rating on shares of Rocket Lab in a report on Wednesday, July 8th. New Street Research started coverage on shares of Rocket Lab in a research report on Wednesday, May 13th. They set a “buy” rating and a $150.00 price target on the stock. Finally, Roth Capital upped their price target on shares of Rocket Lab from $100.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. Three investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $110.18.
Get Our Latest Analysis on Rocket Lab
Rocket Lab Stock Down 11.6%
NASDAQ:RKLB opened at $67.35 on Friday. The stock’s fifty day moving average price is $108.73 and its two-hundred day moving average price is $87.29. Rocket Lab Corporation has a 52-week low of $37.57 and a 52-week high of $151.00. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.02 and a current ratio of 4.47. The company has a market cap of $38.98 billion, a price-to-earnings ratio of -210.47 and a beta of 2.54.
Rocket Lab (NASDAQ:RKLB – Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The rocket manufacturer reported ($0.07) EPS for the quarter, meeting analysts’ consensus estimates of ($0.07). The firm had revenue of $200.35 million for the quarter, compared to analyst estimates of $189.65 million. Rocket Lab had a negative return on equity of 11.72% and a negative net margin of 26.87%.The business’s quarterly revenue was up 63.4% compared to the same quarter last year. During the same period last year, the company earned ($0.12) EPS. On average, analysts anticipate that Rocket Lab Corporation will post -0.26 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.
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