USS Investment Management Ltd bought a new stake in Rocket Lab Corporation (NASDAQ:RKLB – Free Report) in the first quarter, HoldingsChannel.com reports. The firm bought 431,074 shares of the rocket manufacturer’s stock, valued at approximately $27,666,000.
Several other institutional investors and hedge funds have also modified their holdings of the business. AQR Capital Management LLC increased its position 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 acquiring an additional 92,849 shares during the period. NewEdge Advisors LLC boosted its holdings in Rocket Lab by 1,812.1% in the 1st quarter. NewEdge Advisors LLC now owns 36,807 shares of the rocket manufacturer’s stock valued at $658,000 after purchasing an additional 34,882 shares during the period. Jones Financial Companies Lllp grew its position in shares of Rocket Lab by 53.8% during 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Rocket Lab by 13.3% during 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 in the last quarter. Finally, Focus Partners Wealth increased its holdings in shares of 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 period. 71.78% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
RKLB has been the subject of a number of analyst reports. Citizens Jmp lifted their price target on shares of Rocket Lab from $95.00 to $130.00 and gave the company a “market outperform” rating in a research report on Tuesday. Stifel Nicolaus set a $132.00 price objective on Rocket Lab in a research note on Thursday, June 4th. BTIG Research reaffirmed a “hold” rating on shares of Rocket Lab in a report on Tuesday, May 12th. TD Cowen upped their target price on Rocket Lab from $90.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Finally, Citigroup reiterated an “outperform” rating on shares of Rocket Lab in a research report on Tuesday. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Rocket Lab currently has an average rating of “Moderate Buy” and an average target price of $108.24.
Rocket Lab Stock Performance
Shares of Rocket Lab stock opened at $101.65 on Wednesday. The company has a current ratio of 4.47, a quick ratio of 4.02 and a debt-to-equity ratio of 0.02. The company has a market cap of $58.83 billion, a PE ratio of -317.66 and a beta of 2.49. The company has a 50 day moving average of $108.11 and a 200-day moving average of $85.71. Rocket Lab Corporation has a 1-year low of $33.73 and a 1-year high of $151.00.
Rocket Lab (NASDAQ:RKLB – Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The rocket manufacturer reported ($0.07) earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $189.65 million. During the same period last year, the firm posted ($0.12) earnings per share. The firm’s quarterly revenue was up 63.4% compared to the same quarter last year. As a group, equities research analysts forecast that Rocket Lab Corporation will post -0.29 earnings per share for the current fiscal year.
Insider Transactions at Rocket Lab
In related news, SVP Arjun Kampani sold 88,000 shares of the company’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $107.98, for a total transaction of $9,502,240.00. Following the completion of the sale, the senior vice president directly owned 264,705 shares in the company, valued at $28,582,845.90. This represents a 24.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Marvin Bradford Clevenger sold 3,500 shares of the firm’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $146.67, for a total value of $513,345.00. Following the completion of the sale, the insider directly owned 473,975 shares in the company, valued at $69,517,913.25. This trade represents a 0.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 573,515 shares of company stock worth $76,412,122. 8.40% of the stock is owned by insiders.
Key Rocket Lab News
Here are the key news stories impacting Rocket Lab this week:
- Positive Sentiment: Rocket Lab’s acquisition of Iridium is seen as a transformational move that adds recurring telecom revenue, satellite network assets, and spectrum rights. Rocket Lab Defies Gravity With $8B Buyout
- Positive Sentiment: Multiple analysts responded favorably to the deal, with price-target hikes and reiterated buy ratings suggesting the market may be revaluing RKLB as a broader space infrastructure play. Rocket Lab Stock (RKLB) Surges as Top BofA Analyst Cheers Iridium Deal
- Positive Sentiment: Investor coverage framed the acquisition as a step toward a “vertically integrated” space powerhouse, which has supported buying across the sector and helped lift RKLB sentiment. Rocket Lab Stock Jumps as Top Analyst Lifts Price Target, Sees a ‘Vertically Integrated Space Platform’
Rocket Lab 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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