Rocket Lab Corporation $RKLB Shares Acquired by Nicholas Investment Partners LP

Nicholas Investment Partners LP raised its holdings in shares of Rocket Lab Corporation (NASDAQ:RKLB) by 5.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 184,761 shares of the rocket manufacturer’s stock after acquiring an additional 8,747 shares during the quarter. Rocket Lab makes up 0.9% of Nicholas Investment Partners LP’s investment portfolio, making the stock its 29th biggest holding. Nicholas Investment Partners LP’s holdings in Rocket Lab were worth $12,889,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Focus Partners Wealth boosted its position in shares of Rocket Lab by 0.8% during the 4th quarter. Focus Partners Wealth now owns 128,152 shares of the rocket manufacturer’s stock worth $8,906,000 after acquiring an additional 965 shares in the last quarter. Clear Street Group Inc. boosted its position in shares of Rocket Lab by 71.9% during the 4th quarter. Clear Street Group Inc. now owns 1,069,240 shares of the rocket manufacturer’s stock worth $74,590,000 after acquiring an additional 447,240 shares in the last quarter. Entropy Technologies LP boosted its position in shares of Rocket Lab by 18.5% during the 4th quarter. Entropy Technologies LP now owns 55,117 shares of the rocket manufacturer’s stock worth $3,845,000 after acquiring an additional 8,603 shares in the last quarter. Blue Jean Financial LLC acquired a new position in shares of Rocket Lab during the 4th quarter worth about $3,065,000. Finally, 1 North Wealth Services LLC acquired a new position in shares of Rocket Lab during the 4th quarter worth about $82,000. 71.78% of the stock is owned by institutional investors and hedge funds.

Rocket Lab Stock Down 10.8%

RKLB opened at $102.39 on Friday. The business has a 50 day moving average price of $101.62 and a two-hundred day moving average price of $81.03. The company has a quick ratio of 4.02, a current ratio of 4.47 and a debt-to-equity ratio of 0.02. The company has a market cap of $59.26 billion, a PE ratio of -319.97 and a beta of 2.49. Rocket Lab Corporation has a 52 week low of $25.24 and a 52 week high of $151.00.

Rocket Lab (NASDAQ:RKLB) last posted its quarterly earnings data on Thursday, May 7th. The rocket manufacturer reported ($0.07) EPS for the quarter, meeting the consensus estimate of ($0.07). Rocket Lab had a negative return on equity of 11.72% and a negative net margin of 26.87%.The firm had revenue of $200.35 million during the quarter, compared to the consensus estimate of $189.65 million. During the same period in the prior year, the business earned ($0.12) EPS. The firm’s revenue was up 63.4% compared to the same quarter last year. As a group, research analysts anticipate that Rocket Lab Corporation will post -0.29 EPS for the current year.

Insider Transactions at Rocket Lab

In related news, CFO Adam C. Spice sold 62,744 shares of Rocket Lab stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $142.57, for a total value of $8,945,412.08. Following the transaction, the chief financial officer directly owned 983,049 shares in the company, valued at $140,153,295.93. This trade represents a 6.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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, Director Alexander R. Slusky sold 100,000 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $118.08, for a total value of $11,808,000.00. Following the transaction, the director directly owned 434,675 shares of the company’s stock, valued at approximately $51,326,424. This trade represents a 18.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 485,515 shares of company stock worth $66,909,882 over the last quarter. 8.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Citizens Jmp upped their price objective on Rocket Lab from $85.00 to $95.00 and gave the stock a “market outperform” rating in a research report on Friday, May 8th. Stifel Nicolaus set a $132.00 target price on Rocket Lab in a report on Thursday, June 4th. Craig Hallum raised Rocket Lab from a “hold” rating to a “buy” rating and set a $98.00 target price for the company in a report on Friday, May 8th. Roth Mkm boosted their target price on Rocket Lab from $90.00 to $100.00 and gave the company a “buy” rating in a report on Friday, April 17th. Finally, KGI Securities began coverage on Rocket Lab in a report on Thursday. They issued a “neutral” rating and a $105.00 target price for the company. Three research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $99.24.

Key Rocket Lab News

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

• Positive Sentiment: Rocket Lab announced that it will join the Nasdaq-100 Index, effective June 22. That inclusion is a bullish technical and sentiment driver because it can increase visibility, attract index-tracking funds, and broaden institutional demand. Rocket Lab To Join The Nasdaq-100 Index
• Positive Sentiment: Several reports note that RKLB is benefiting from a “halo trade” in space stocks tied to SpaceX’s historic public debut, with traders rotating into space-related names as the industry gets more attention. Why Rocket Lab (RKLB) Stock Is Up Today
• Positive Sentiment: Rocket Lab’s recent business momentum also supports the stock, with Q1 revenue up 63.4% year over year to $200.35 million and results beating revenue estimates, reinforcing the growth story behind the company. Rocket Lab To Join The Nasdaq-100 Index
• Neutral Sentiment: Commentary from analysts and media has turned more upbeat on the stock, but much of the move appears to be driven by index inclusion and sector momentum rather than a new operating update. Space Stock Rocket Lab and 4 Others Are Joining the Nasdaq 100
• Negative Sentiment: Near-term volatility could stay elevated because the stock has also been caught in broader space-stock swings around SpaceX’s debut, and some traders are treating the group as a relative-value trade rather than a pure Rocket Lab fundamental story. Virgin Galactic Craters 24%, Rocket Lab Drops 8%, AST SpaceMobile Falls 10% as SpaceX Hype Triggers a Space-Stock Shakeout

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.