Commerce Bank purchased a new stake in Rocket Lab Corporation (NASDAQ:RKLB – Free Report) in the 2nd quarter, HoldingsChannel reports. The fund purchased 20,711 shares of the rocket manufacturer’s stock, valued at approximately $2,105,000.
Several other institutional investors have also recently made changes to their positions in RKLB. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Rocket Lab during the second quarter valued at about $8,462,000. Varma Mutual Pension Insurance Co acquired a new stake in shares of Rocket Lab in the 2nd quarter valued at about $9,484,000. Westpac Banking Corp acquired a new stake in shares of Rocket Lab in the 2nd quarter valued at about $117,000. Sumitomo Life Insurance Co. bought a new stake in Rocket Lab in the 2nd quarter valued at about $522,000. Finally, Korea Investment CORP bought a new stake in Rocket Lab in the 2nd quarter valued at about $70,976,000. Institutional investors and hedge funds own 71.78% of the company’s stock.
Rocket Lab Trading Down 5.9%
NASDAQ:RKLB opened at $68.28 on Tuesday. 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 Corporation has a one year low of $37.57 and a one year high of $151.00. The company has a market cap of $40.86 billion, a PE ratio of -252.88 and a beta of 2.60. The firm has a 50-day moving average of $81.04 and a 200-day moving average of $85.20.
Analyst Upgrades and Downgrades
Several research analysts have issued reports on the company. Stifel Nicolaus set a $132.00 price target on Rocket Lab in a report on Thursday, June 4th. KeyCorp reissued an “overweight” rating on shares of Rocket Lab in a research note on Tuesday, August 11th. Bank of America boosted their price objective on Rocket Lab from $105.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, June 30th. Morgan Stanley reaffirmed an “overweight” rating on shares of Rocket Lab in a research report on Wednesday, July 8th. Finally, BTIG Research reiterated a “hold” rating on shares of Rocket Lab in a report on Tuesday, May 12th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.65.
View Our Latest Research Report on RKLB
Key Rocket Lab News
Here are the key news stories impacting Rocket Lab this week:
- Positive Sentiment: Rocket Lab delivered record second-quarter revenue of approximately $234 million and reported a $2.36 billion backlog, providing visibility across its launch and Space Systems businesses. Space Systems is increasingly broadening the company’s growth engine beyond rocket launches. Why I’m Buying Rocket Lab Over SpaceX
- Positive Sentiment: Rocket Lab joined the $981 million NITE-STAR program, potentially expanding its role in space testing, training and mission infrastructure and creating additional government-related opportunities. Can NITE-STAR Expand Rocket Lab’s Space Infrastructure Opportunity?
- Positive Sentiment: Management said a successful Neutron test launch could put Rocket Lab on track for positive adjusted EBITDA as soon as the following quarter. Neutron launches are reportedly commanding more than $50 million before the first flight, suggesting strong customer interest and potentially scarce early capacity. Rocket Lab Stock: One Neutron Launch Could Change Its Entire Financial Picture
- Positive Sentiment: The “Hungry Hippo” test article reportedly withstood forces above projected flight levels and has begun flight-like testing ahead of Neutron’s anticipated fourth-quarter debut, supporting investor optimism about development progress. RKLB Stock Rockets Toward Best Month Since May
- Neutral Sentiment: Analysts and market commentators describe the recent sell-off as potentially fading, but investors remain focused on Neutron’s fourth-quarter debut before assigning the company a higher valuation. Rocket Lab’s Sell-Off Is Fading—Is It Finally Safe to Buy?
- Negative Sentiment: Rocket Lab remains unprofitable, and its latest quarterly EPS missed expectations. Pre-building multiple Neutron vehicles could accelerate commercialization but risks significant stranded capital if the rocket’s design changes or development is delayed. Rocket Lab: The Hidden Risks No One Talks About
Insider Transactions at Rocket Lab
In related news, CEO Peter Beck sold 990,960 shares of Rocket Lab stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $82.86, for a total transaction of $82,110,945.60. Following the transaction, the chief executive officer owned 1,724,221 shares of the company’s stock, valued at $142,868,952.06. The trade was a 36.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Marvin Bradford Clevenger sold 3,500 shares of the company’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $146.67, for a total value of $513,345.00. Following the sale, the insider owned 473,975 shares of the company’s stock, valued at $69,517,913.25. This trade represents a 0.73% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 3,597,943 shares of company stock valued at $329,430,096. Corporate insiders own 8.40% of the company’s stock.
About Rocket Lab
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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