Clear Street Group Inc. Buys 447,240 Shares of Rocket Lab Corporation $RKLB

Clear Street Group Inc. grew its position in shares of Rocket Lab Corporation (NASDAQ:RKLBFree Report) by 71.9% in the fourth quarter, HoldingsChannel reports. The firm owned 1,069,240 shares of the rocket manufacturer’s stock after buying an additional 447,240 shares during the quarter. Rocket Lab accounts for approximately 0.3% of Clear Street Group Inc.’s investment portfolio, making the stock its 23rd largest holding. Clear Street Group Inc.’s holdings in Rocket Lab were worth $74,590,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Baillie Gifford & Co. lifted its position in shares of Rocket Lab by 47.2% in the fourth quarter. Baillie Gifford & Co. now owns 17,851,446 shares of the rocket manufacturer’s stock worth $1,245,317,000 after buying an additional 5,725,536 shares in the last quarter. Vanguard Group Inc. grew its holdings 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 valued at $3,308,033,000 after buying an additional 5,610,469 shares in the last quarter. Norges Bank bought a new stake in Rocket Lab in the 4th quarter worth approximately $341,036,000. Alliancebernstein L.P. increased its stake in Rocket Lab by 818.8% in the 3rd quarter. Alliancebernstein L.P. now owns 2,190,132 shares of the rocket manufacturer’s stock worth $104,929,000 after acquiring an additional 1,951,755 shares during the last quarter. Finally, Capital World Investors raised its holdings in shares of Rocket Lab by 12.0% during the 4th quarter. Capital World Investors now owns 16,200,726 shares of the rocket manufacturer’s stock worth $1,130,172,000 after acquiring an additional 1,738,623 shares in the last quarter. 71.78% of the stock is owned by institutional investors.

Key Rocket Lab News

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

  • Positive Sentiment: Rocket Lab announced that it will join the Nasdaq-100 Index, effective June 22. That inclusion is a bullish technical and sentiment driver because it can increase visibility, attract index-tracking funds, and broaden institutional demand. Rocket Lab To Join The Nasdaq-100 Index
  • Positive Sentiment: Several reports note that RKLB is benefiting from a “halo trade” in space stocks tied to SpaceX’s historic public debut, with traders rotating into space-related names as the industry gets more attention. Why Rocket Lab (RKLB) Stock Is Up Today
  • Positive Sentiment: Rocket Lab’s recent business momentum also supports the stock, with Q1 revenue up 63.4% year over year to $200.35 million and results beating revenue estimates, reinforcing the growth story behind the company. Rocket Lab To Join The Nasdaq-100 Index
  • Neutral Sentiment: Commentary from analysts and media has turned more upbeat on the stock, but much of the move appears to be driven by index inclusion and sector momentum rather than a new operating update. Space Stock Rocket Lab and 4 Others Are Joining the Nasdaq 100
  • Negative Sentiment: Near-term volatility could stay elevated because the stock has also been caught in broader space-stock swings around SpaceX’s debut, and some traders are treating the group as a relative-value trade rather than a pure Rocket Lab fundamental story. Virgin Galactic Craters 24%, Rocket Lab Drops 8%, AST SpaceMobile Falls 10% as SpaceX Hype Triggers a Space-Stock Shakeout

Rocket Lab Stock Performance

NASDAQ RKLB opened at $102.39 on Friday. The business’s 50 day moving average price is $101.62 and its 200-day moving average price is $81.03. Rocket Lab Corporation has a fifty-two week low of $25.24 and a fifty-two week high of $151.00. The company has a market cap of $59.26 billion, a P/E ratio of -319.97 and a beta of 2.49. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.02 and a current ratio of 4.47.

Rocket Lab (NASDAQ:RKLBGet Free Report) last issued its quarterly earnings results on Thursday, May 7th. The rocket manufacturer reported ($0.07) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.07). The company had revenue of $200.35 million during the quarter, compared to the consensus estimate of $189.65 million. Rocket Lab had a negative return on equity of 11.72% and a negative net margin of 26.87%.Rocket Lab’s revenue was up 63.4% on a year-over-year basis. During the same period last year, the company earned ($0.12) earnings per share. Sell-side analysts predict that Rocket Lab Corporation will post -0.29 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft increased their target price on Rocket Lab from $73.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Rocket Lab in a research note on Wednesday, May 27th. Citigroup reiterated an “outperform” rating on shares of Rocket Lab in a research report on Friday, May 8th. Clear Str upgraded shares of Rocket Lab to a “strong-buy” rating in a report on Wednesday, March 18th. Finally, KGI Securities started coverage on shares of Rocket Lab in a research report on Thursday. They set a “neutral” rating and a $105.00 target price on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $99.24.

Check Out Our Latest Analysis on RKLB

Insider Transactions at Rocket Lab

In other Rocket Lab news, SVP Arjun Kampani sold 23,804 shares of the firm’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $147.43, for a total value of $3,509,423.72. Following the completion of the sale, the senior vice president owned 352,705 shares of the company’s stock, valued at $51,999,298.15. This trade represents a 6.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Marvin Bradford Clevenger sold 3,500 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $146.67, for a total value of $513,345.00. Following the transaction, the insider owned 473,975 shares of the company’s stock, valued at approximately $69,517,913.25. The trade was a 0.73% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 485,515 shares of company stock worth $66,909,882. 8.40% of the stock is currently owned by insiders.

Rocket Lab Company 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

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

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