Rocket Lab Corporation $RKLB Position Increased by Motley Fool Asset Management LLC

Motley Fool Asset Management LLC raised its holdings in shares of Rocket Lab Corporation (NASDAQ:RKLBFree Report) by 541.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,311 shares of the rocket manufacturer’s stock after purchasing an additional 42,466 shares during the period. Motley Fool Asset Management LLC’s holdings in Rocket Lab were worth $3,510,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Sara Bay Financial increased its stake in Rocket Lab by 0.7% during the fourth quarter. Sara Bay Financial now owns 15,905 shares of the rocket manufacturer’s stock valued at $1,121,000 after purchasing an additional 117 shares during the last quarter. ORG Partners LLC boosted its holdings in shares of Rocket Lab by 9.1% during the fourth quarter. ORG Partners LLC now owns 1,458 shares of the rocket manufacturer’s stock valued at $102,000 after acquiring an additional 121 shares during the period. Traynor Capital Management Inc. boosted its holdings in shares of Rocket Lab by 1.9% during the fourth quarter. Traynor Capital Management Inc. now owns 7,191 shares of the rocket manufacturer’s stock valued at $502,000 after acquiring an additional 133 shares during the period. Capital Advisors Wealth Management LLC boosted its holdings in shares of Rocket Lab by 1.0% during the fourth quarter. Capital Advisors Wealth Management LLC now owns 13,466 shares of the rocket manufacturer’s stock valued at $939,000 after acquiring an additional 136 shares during the period. Finally, Quadcap Wealth Management LLC boosted its holdings in shares of Rocket Lab by 2.3% during the fourth quarter. Quadcap Wealth Management LLC now owns 6,246 shares of the rocket manufacturer’s stock valued at $436,000 after acquiring an additional 140 shares during the period. Institutional investors own 71.78% of the company’s stock.

Rocket Lab Stock Performance

RKLB stock opened at $105.05 on Thursday. The company has a market capitalization of $60.80 billion, a P/E ratio of -328.28 and a beta of 2.49. The company has a 50-day simple moving average of $99.88 and a 200 day simple moving average of $80.36. Rocket Lab Corporation has a fifty-two week low of $25.24 and a fifty-two week high of $151.00. The company has a quick ratio of 4.02, a current ratio of 4.47 and a debt-to-equity ratio of 0.02.

Rocket Lab (NASDAQ:RKLBGet Free Report) last posted its quarterly earnings data on Thursday, May 7th. The rocket manufacturer reported ($0.07) earnings per share for the quarter, hitting the consensus estimate of ($0.07). The business had revenue of $200.35 million during the quarter, compared to the consensus estimate of $189.65 million. Rocket Lab had a negative net margin of 26.87% and a negative return on equity of 11.72%. The company’s quarterly revenue was up 63.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.12) earnings per share. Sell-side analysts predict that Rocket Lab Corporation will post -0.29 earnings per share for the current fiscal year.

More Rocket Lab News

Here are the key news stories impacting Rocket Lab this week:

Insiders Place Their Bets

In related news, Director Alexander R. Slusky sold 40,000 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $123.60, for a total value of $4,944,000.00. Following the completion of the sale, the director owned 334,675 shares of the company’s stock, valued at $41,365,830. This represents a 10.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Marvin Bradford Clevenger sold 3,500 shares of the company’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $146.67, for a total transaction of $513,345.00. Following the completion of the sale, the insider directly owned 473,975 shares of the company’s stock, valued at $69,517,913.25. The trade was a 0.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 485,515 shares of company stock valued at $66,909,882. Corporate insiders own 8.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on RKLB shares. Citizens Jmp boosted their price target on shares of Rocket Lab from $85.00 to $95.00 and gave the company a “market outperform” rating in a report on Friday, May 8th. Cantor Fitzgerald reissued an “overweight” rating on shares of Rocket Lab in a report on Wednesday, May 27th. Stifel Nicolaus set a $132.00 price target on shares of Rocket Lab in a report on Thursday, June 4th. TD Cowen boosted their price target on shares of Rocket Lab from $90.00 to $120.00 and gave the company a “buy” rating in a report on Friday, May 8th. Finally, New Street Research started coverage on shares of Rocket Lab in a report on Wednesday, May 13th. They set a “buy” rating and a $150.00 price target for the company. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $98.88.

View Our Latest Stock Report on Rocket Lab

About Rocket Lab

(Free Report)

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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Institutional Ownership by Quarter for Rocket Lab (NASDAQ:RKLB)

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