TigerOak Management L.L.C. Makes New Investment in Rocket Lab Corporation (NASDAQ:RKLB)

TigerOak Management L.L.C. acquired a new stake in shares of Rocket Lab Corporation (NASDAQ:RKLB) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 10,719 shares of the rocket manufacturer’s stock, valued at approximately $192,000.

Several other institutional investors and hedge funds have also modified their holdings of RKLB. FMR LLC boosted its holdings in shares of Rocket Lab by 30,853.3% in the fourth quarter. FMR LLC now owns 3,696,136 shares of the rocket manufacturer’s stock valued at $94,141,000 after buying an additional 3,684,195 shares during the period. Two Sigma Advisers LP bought a new stake in Rocket Lab in the 4th quarter valued at $72,623,000. BNP Paribas Financial Markets acquired a new position in Rocket Lab in the 4th quarter worth $56,977,000. Two Sigma Investments LP bought a new position in Rocket Lab during the 4th quarter worth about $47,074,000. Finally, Renaissance Technologies LLC raised its stake in shares of Rocket Lab by 1,765.4% in the 4th quarter. Renaissance Technologies LLC now owns 1,818,800 shares of the rocket manufacturer’s stock valued at $46,325,000 after purchasing an additional 1,721,300 shares during the period. 71.78% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on RKLB. The Goldman Sachs Group upped their price objective on Rocket Lab from $14.35 to $16.00 and gave the stock a “neutral” rating in a research report on Monday, May 12th. Needham & Company LLC raised their price target on shares of Rocket Lab from $28.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, May 28th. Citigroup lowered their price objective on shares of Rocket Lab from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Roth Capital increased their target price on shares of Rocket Lab from $25.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, May 28th. Finally, Stifel Nicolaus lifted their price target on shares of Rocket Lab from $29.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, May 28th. Five 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 company. According to data from MarketBeat.com, Rocket Lab currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.10.

Rocket Lab Stock Down 3.3%

Shares of RKLB stock opened at $32.35 on Thursday. Rocket Lab Corporation has a 52-week low of $4.20 and a 52-week high of $34.50. The stock has a market cap of $14.67 billion, a price-to-earnings ratio of -80.88 and a beta of 2.08. The firm’s 50-day moving average is $25.13 and its 200-day moving average is $24.07. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.72 and a current ratio of 2.08.

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

Insider Buying and Selling at Rocket Lab

In other news, insider Arjun Kampani sold 5,277 shares of the firm’s stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $29.97, for a total transaction of $158,151.69. Following the completion of the sale, the insider now owns 569,606 shares in the company, valued at approximately $17,071,091.82. This trade represents a 0.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Frank Klein sold 2,569 shares of the company’s stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $29.97, for a total transaction of $76,992.93. Following the completion of the transaction, the insider now owns 1,415,075 shares in the company, valued at approximately $42,409,797.75. This trade represents a 0.18% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,130,995 shares of company stock valued at $29,686,039 in the last quarter. 13.70% of the stock is currently owned by insiders.

Rocket Lab 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.