Palogic Value Management L.P. purchased a new position in Rocket Lab Corporation (NASDAQ:RKLB – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 15,501 shares of the rocket manufacturer’s stock, valued at approximately $1,575,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Highland Investment Advisors LLC bought a new position in Rocket Lab in the second quarter worth approximately $30,000. Meeder Asset Management Inc. bought a new stake in Rocket Lab during the 2nd quarter valued at $30,000. NBH Bank bought a new stake in Rocket Lab during the 2nd quarter valued at $30,000. Mcguire Capital Advisors Inc. purchased a new position in shares of Rocket Lab in the 4th quarter valued at $27,000. Finally, Keating Financial Advisory Services Inc. purchased a new position in shares of Rocket Lab in the 2nd quarter valued at $39,000. 71.78% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on RKLB shares. Piper Sandler started coverage on Rocket Lab in a research note on Wednesday, July 15th. They set a “neutral” rating and a $83.00 price objective for the company. New Street Research began coverage on Rocket Lab in a research note on Wednesday, May 13th. They issued a “buy” rating and a $150.00 target price on the stock. Berenberg Bank began coverage on shares of Rocket Lab in a report on Wednesday, September 2nd. They issued a “buy” rating and a $83.00 price target on the stock. Bank of America cut their price objective on shares of Rocket Lab from $115.00 to $110.00 and set a “buy” rating on the stock in a research report on Monday, August 31st. Finally, Cantor Fitzgerald boosted their price objective on shares of Rocket Lab from $96.00 to $122.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 11th. Four analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $108.83.
Rocket Lab Trading Down 4.3%
Shares of NASDAQ:RKLB opened at $63.07 on Thursday. The business’s 50-day moving average is $73.10 and its 200 day moving average is $84.67. Rocket Lab Corporation has a 1 year low of $37.57 and a 1 year high of $151.00. The firm has a market capitalization of $37.74 billion, a P/E ratio of -233.58 and a beta of 2.60. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.48 and a quick ratio of 4.98.
Rocket Lab (NASDAQ:RKLB – Get Free Report) last released its quarterly earnings results on Monday, August 10th. The rocket manufacturer reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02). The business had revenue of $234.07 million during the quarter, compared to analysts’ expectations of $231.62 million. Rocket Lab had a negative net margin of 21.51% and a negative return on equity of 6.48%. On average, research analysts predict that Rocket Lab Corporation will post -0.2 earnings per share for the current fiscal year.
Insider Transactions at Rocket Lab
In related news, CFO Adam Spice sold 140,157 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $62.63, for a total value of $8,778,032.91. Following the completion of the transaction, the chief financial officer directly owned 1,155,967 shares of the company’s stock, valued at $72,398,213.21. This trade represents a 10.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Frank Klein sold 45,692 shares of Rocket Lab stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $69.63, for a total transaction of $3,181,533.96. Following the completion of the sale, the insider owned 961,295 shares of the company’s stock, valued at $66,934,970.85. This trade represents a 4.54% 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 sold a total of 3,624,371 shares of company stock worth $312,944,881 over the last ninety days. 8.40% of the stock is currently owned by insiders.
Key Rocket Lab News
Here are the key news stories impacting Rocket Lab this week:
- Positive Sentiment: Rocket Lab introduced its IMM Apex solar cell, which delivers 31.5% beginning-of-life efficiency, reduces cell weight by 40% and eliminates the need for germanium, a supply-constrained material. The product is designed as a drop-in replacement for existing solar cells, potentially supporting adoption and improving Rocket Lab’s space-systems revenue opportunity. Rocket Lab Introduces High-Efficiency Solar Cell
- Positive Sentiment: ARK Invest’s ARKX purchased 2,341 RKLB shares, worth approximately $154,000, adding a modest institutional endorsement to the solar-cell catalyst. ARK Invest Adds to Rocket Lab Stake
- Neutral Sentiment: Rocket Lab continues to benefit from strong revenue growth and approximately $2.4 billion in cash, giving it funding to develop Neutron. However, investors still lack a firm first-launch date, leaving the stock dependent on future execution. Rocket Lab Stock Climbs Yet Neutron Launch Date Remains Out of Reach
- Negative Sentiment: Neutron’s next expected milestone is delivery to the launch pad rather than an actual launch. The continued schedule uncertainty is weighing on investors who view the medium-lift rocket as central to Rocket Lab’s long-term growth story. Rocket Lab’s Next Neutron Milestone
- Negative Sentiment: Rocket Lab remains down significantly since its latest earnings report after missing the quarterly EPS estimate, despite beating revenue expectations. Analysts and investors are also cautious about the stock’s high valuation and ongoing losses. A broader space-sector selloff, partly triggered by a large SpaceX insider-share unlock, is adding pressure. Rocket Lab Down Since Earnings Report
About Rocket Lab
Rocket Lab USA, Inc is a space company that provides launch services and space systems for commercial, civil and national security customers. The company develops and operates launch vehicles, spacecraft and satellite components, with activities spanning the design, manufacture and operation of space hardware.
Rocket Lab’s Electron rocket is a small-lift orbital launch vehicle designed to deploy small satellites. The company also develops HASTE, a suborbital test vehicle based on Electron technology, and is developing Neutron, a larger reusable launch vehicle intended to support a broader range of missions.
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