Roman Butler Fullerton & Co. Raises Stake in Rocket Lab Corporation (NASDAQ:RKLB)

Roman Butler Fullerton & Co. raised its position in shares of Rocket Lab Corporation (NASDAQ:RKLB) by 161.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,580 shares of the rocket manufacturer’s stock after purchasing an additional 12,080 shares during the quarter. Roman Butler Fullerton & Co.’s holdings in Rocket Lab were worth $350,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in RKLB. Empowered Funds LLC purchased a new position in Rocket Lab during the fourth quarter valued at approximately $288,000. Van ECK Associates Corp lifted its holdings in Rocket Lab by 26.9% during the fourth quarter. Van ECK Associates Corp now owns 166,369 shares of the rocket manufacturer’s stock valued at $4,237,000 after purchasing an additional 35,293 shares in the last quarter. Valeo Financial Advisors LLC purchased a new position in Rocket Lab during the fourth quarter valued at approximately $233,000. Rhumbline Advisers lifted its holdings in Rocket Lab by 2.2% during the fourth quarter. Rhumbline Advisers now owns 479,129 shares of the rocket manufacturer’s stock valued at $12,203,000 after purchasing an additional 10,219 shares in the last quarter. Finally, Principal Securities Inc. lifted its holdings in Rocket Lab by 137.3% during the fourth quarter. Principal Securities Inc. now owns 5,356 shares of the rocket manufacturer’s stock valued at $136,000 after purchasing an additional 3,099 shares in the last quarter. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Rocket Lab Price Performance

Rocket Lab stock opened at $27.85 on Thursday. The company has a market cap of $12.63 billion, a price-to-earnings ratio of -69.63 and a beta of 2.08. The firm’s fifty day moving average is $23.99 and its 200 day moving average is $23.81. The company has a quick ratio of 1.72, a current ratio of 2.08 and a debt-to-equity ratio of 0.97. Rocket Lab Corporation has a 52-week low of $4.20 and a 52-week high of $33.34.

Rocket Lab (NASDAQ:RKLB) last released its quarterly earnings results on Thursday, May 8th. The rocket manufacturer reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.02). The business had revenue of $122.57 million for the quarter, compared to analysts’ expectations of $120.74 million. Rocket Lab had a negative net margin of 44.32% and a negative return on equity of 48.92%. Rocket Lab’s revenue for the quarter was up 32.1% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.09) EPS. Sell-side analysts forecast that Rocket Lab Corporation will post -0.38 EPS for the current fiscal year.

Insider Buying and Selling at Rocket Lab

In other Rocket Lab news, insider Arjun Kampani sold 28,988 shares of the business’s stock in a transaction on Friday, May 30th. The shares were sold at an average price of $26.66, for a total transaction of $772,820.08. Following the transaction, the insider now owns 540,618 shares in the company, valued at $14,412,875.88. The trade was a 5.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Frank Klein sold 2,569 shares of the business’s stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $29.97, for a total transaction of $76,992.93. Following the transaction, the insider now owns 1,415,075 shares in the company, valued at $42,409,797.75. This trade represents a 0.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,118,289 shares of company stock worth $29,287,134 over the last quarter. Insiders own 13.70% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on RKLB. The Goldman Sachs Group boosted their target price on shares of Rocket Lab from $14.35 to $16.00 and gave the stock a “neutral” rating in a report on Monday, May 12th. TD Cowen raised shares of Rocket Lab to a “strong-buy” rating in a report on Monday, February 24th. Stifel Nicolaus boosted their target price on shares of Rocket Lab from $29.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, May 28th. Morgan Stanley boosted their target price on shares of Rocket Lab from $18.00 to $20.00 and gave the stock an “equal weight” rating in a report on Monday, March 10th. Finally, Wells Fargo & Company lowered their target price on shares of Rocket Lab from $21.00 to $18.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $28.10.

Rocket Lab Company Profile

Rocket Lab USA, Inc, a space company, provides launch services and space systems solutions for the space and defense industries. The company provides launch services, spacecraft design services, spacecraft components, spacecraft manufacturing, and other spacecraft and on-orbit management solutions; and constellation management services, as well as designs and manufactures small and medium-class rockets.