Public Employees Retirement System of Ohio purchased a new stake in shares of Rocket Lab Corporation (NASDAQ:RKLB – Free Report) during the second quarter, Holdings Channel reports. The fund purchased 623,084 shares of the rocket manufacturer’s stock, valued at approximately $9,814,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. AQR Capital Management LLC increased its stake in shares of Rocket Lab by 114.0% in the first quarter. AQR Capital Management LLC now owns 174,308 shares of the rocket manufacturer’s stock valued at $3,117,000 after buying an additional 92,849 shares during the period. NewEdge Advisors LLC boosted its position in Rocket Lab by 1,812.1% during the 1st quarter. NewEdge Advisors LLC now owns 36,807 shares of the rocket manufacturer’s stock worth $658,000 after buying an additional 34,882 shares during the period. Jones Financial Companies Lllp grew its holdings in 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 acquiring an additional 5,507 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in 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 acquiring an additional 90,758 shares during the last quarter. Finally, Focus Partners Wealth increased its position in Rocket Lab by 1.0% in the 1st quarter. Focus Partners Wealth now owns 67,584 shares of the rocket manufacturer’s stock valued at $1,206,000 after acquiring an additional 681 shares during the period. 71.78% of the stock is currently owned by institutional investors.
Insider Activity
In other news, insider Marvin Bradford Clevenger sold 15,051 shares of the business’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $69.63, for a total value of $1,048,001.13. Following the transaction, the insider directly owned 458,924 shares of the company’s stock, valued at $31,954,878.12. The trade was a 3.18% decrease in their position. The sale 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Frank Klein sold 35,558 shares of the company’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $66.61, for a total value of $2,368,518.38. Following the sale, the insider owned 925,737 shares in the company, valued at approximately $61,663,341.57. The trade was a 3.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 3,484,214 shares of company stock worth $304,166,848. 8.40% of the stock is owned by insiders.
Rocket Lab Stock Down 0.7%
Rocket Lab (NASDAQ:RKLB – Get Free Report) last posted its quarterly earnings data on Monday, August 10th. The rocket manufacturer reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.02). Rocket Lab had a negative return on equity of 6.48% and a negative net margin of 21.51%.The firm had revenue of $234.07 million for the quarter, compared to analyst estimates of $231.62 million. Equities analysts predict that Rocket Lab Corporation will post -0.2 EPS for the current year.
Rocket Lab News Roundup
Here are the key news stories impacting Rocket Lab this week:
- Positive Sentiment: Bank of America lowered its price target modestly to $110 from $115 but maintained a Buy rating, indicating the analyst still sees substantial long-term upside. Rocket Lab Stock Outlook
- Positive Sentiment: Rocket Lab is expanding its role as a vertically integrated space-services provider. Recent developments include a Viasat satellite-bus award, participation in the U.S. Space Force’s NITE-STAR program—which has a contract ceiling of $981 million—and a full-flight Neutron launch contract with Kepler Communications. These awards support the company’s defense and satellite-systems growth prospects. Rocket Lab Defense Role
- Neutral Sentiment: Broader investor interest in space stocks remains elevated after Elon Musk backed a presidential plan to develop America’s next generation of space leaders. The initiative could benefit the sector over time, but its immediate financial impact on RKLB is uncertain. Space Leaders Initiative
- Negative Sentiment: Strong winds delayed Rocket Lab’s Synspective “Owl Around The World” Electron mission, pushing the launch to no earlier than September 1. Launch delays can pressure near-term revenue expectations and investor sentiment. Electron Launch Delay
- Negative Sentiment: Rocket Lab’s stock has flashed a technical “death cross,” reflecting deterioration in momentum after its earlier rally. The reversal has heightened concerns that further selling could occur, even as some high-profile investors continue to view the company’s space exposure favorably. Rocket Lab Death Cross
- Negative Sentiment: Executives disclosed sizable share sales: President Steve Ward sold approximately $1.0 million of stock, while COO Frank Klein sold about $2.4 million. Although the sales represent only a portion of their holdings, insider selling can reinforce concerns about valuation and near-term performance. Rocket Lab President Share Sale Rocket Lab COO Share Sale
Wall Street Analyst Weigh In
Several research firms have recently issued reports on RKLB. New Street Research assumed coverage on shares of Rocket Lab in a research note on Wednesday, May 13th. They set a “buy” rating and a $150.00 price target for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Rocket Lab in a report on Friday, July 17th. Needham & Company LLC reaffirmed a “buy” rating on shares of Rocket Lab in a research report on Tuesday, August 11th. Deutsche Bank Aktiengesellschaft lifted their target price on Rocket Lab from $73.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Finally, KGI Securities upgraded Rocket Lab from a “neutral” rating to an “outperform” rating and set a $107.00 price target on the stock in a research report on Monday, July 27th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $110.35.
Get Our Latest Stock Analysis on Rocket Lab
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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