Nicholas Investment Partners LP lifted its stake in shares of Rocket Lab Corporation (NASDAQ:RKLB – Free Report) by 5.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 184,761 shares of the rocket manufacturer’s stock after purchasing an additional 8,747 shares during the period. Rocket Lab accounts for about 0.9% of Nicholas Investment Partners LP’s portfolio, making the stock its 29th largest position. Nicholas Investment Partners LP’s holdings in Rocket Lab were worth $12,889,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. AQR Capital Management LLC raised its holdings in Rocket Lab by 114.0% during the first quarter. AQR Capital Management LLC now owns 174,308 shares of the rocket manufacturer’s stock worth $3,117,000 after purchasing an additional 92,849 shares during the last quarter. NewEdge Advisors LLC raised its holdings 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 purchasing an additional 34,882 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in Rocket Lab by 53.8% during the first 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 last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Rocket Lab by 13.3% during the first 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 last quarter. Finally, Focus Partners Wealth raised its holdings in Rocket Lab by 1.0% during the first 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 last quarter. 71.78% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Rocket Lab
In other news, insider Frank Klein sold 36,860 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $147.42, for a total transaction of $5,433,901.20. Following the sale, the insider owned 1,006,987 shares in the company, valued at $148,450,023.54. This trade represents a 3.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Alexander R. Slusky sold 40,000 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $123.60, for a total value of $4,944,000.00. Following the sale, the director owned 334,675 shares in the company, valued at $41,365,830. This trade represents a 10.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 485,515 shares of company stock valued at $66,909,882. 8.40% of the stock is currently owned by insiders.
Key Headlines Impacting Rocket Lab
- 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
Rocket Lab stock opened at $102.39 on Friday. 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 stock has a fifty day moving average of $101.62 and a two-hundred day moving average of $81.03. The company has a market capitalization of $59.26 billion, a price-to-earnings ratio of -319.97 and a beta of 2.49. Rocket Lab Corporation has a fifty-two week low of $25.24 and a fifty-two week high of $151.00.
Rocket Lab (NASDAQ:RKLB – Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The rocket manufacturer reported ($0.07) earnings per share for the quarter, hitting the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the business posted ($0.12) earnings per share. On average, analysts anticipate that Rocket Lab Corporation will post -0.29 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on the company. New Street Research assumed coverage on Rocket Lab in a report on Wednesday, May 13th. They set a “buy” rating and a $150.00 price objective for the company. Roth Mkm lifted their price objective on Rocket Lab from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, April 17th. Clear Str raised Rocket Lab to a “strong-buy” rating in a report on Wednesday, March 18th. Deutsche Bank Aktiengesellschaft lifted their price objective on Rocket Lab from $73.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Finally, TD Cowen lifted their price objective on Rocket Lab from $90.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $99.24.
Check Out Our Latest Stock Analysis on Rocket Lab
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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