K.J. Harrison & Partners Inc Makes New $3.17 Million Investment in Rocket Lab Corporation $RKLB

K.J. Harrison & Partners Inc bought a new position in Rocket Lab Corporation (NASDAQ:RKLB) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 31,150 shares of the rocket manufacturer’s stock, valued at approximately $3,166,000.

Several other hedge funds and other institutional investors have also modified their holdings of RKLB. Mcguire Capital Advisors Inc. bought a new position in shares of Rocket Lab during the fourth quarter valued at $27,000. Beacon Investment Advisory Services Inc. boosted its stake in shares of Rocket Lab by 364.0% in the 2nd quarter. Beacon Investment Advisory Services Inc. now owns 399 shares of the rocket manufacturer’s stock valued at $41,000 after purchasing an additional 313 shares in the last quarter. Zions Bancorporation National Association UT acquired a new stake in shares of Rocket Lab in the 4th quarter valued at $28,000. Gordian Capital Singapore Pte Ltd bought a new stake in shares of Rocket Lab in the 4th quarter worth about $29,000. Finally, Reflection Asset Management acquired a new stake in shares of Rocket Lab during the 4th quarter worth about $30,000. Institutional investors own 71.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on RKLB. Craig Hallum lifted their price target on shares of Rocket Lab from $98.00 to $120.00 and gave the company a “buy” rating in a report on Monday, June 29th. BTIG Research reaffirmed a “hold” rating on shares of Rocket Lab in a research note on Tuesday, May 12th. Roth Capital set a $110.00 price objective on shares of Rocket Lab in a report on Tuesday, August 11th. Piper Sandler started coverage on shares of Rocket Lab in a research note on Wednesday, July 15th. They issued a “neutral” rating and a $83.00 target price for the company. Finally, Stifel Nicolaus set a $132.00 target price on Rocket Lab in a report on Thursday, June 4th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $110.65.

Insider Buying and Selling at Rocket Lab

In other Rocket Lab news, CEO Peter Beck sold 990,960 shares of the company’s stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $82.86, for a total transaction of $82,110,945.60. Following the transaction, the chief executive officer owned 1,724,221 shares of the company’s stock, valued at approximately $142,868,952.06. This represents a 36.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Frank Klein sold 36,860 shares of the company’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $147.42, for a total value of $5,433,901.20. Following the transaction, the insider directly owned 1,006,987 shares in the company, valued at approximately $148,450,023.54. This represents a 3.53% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 3,749,294 shares of company stock valued at $351,008,208 over the last three months. Insiders own 8.40% of the company’s stock.

Rocket Lab Stock Performance

Rocket Lab stock opened at $82.08 on Tuesday. The stock has a 50-day simple moving average of $84.46 and a 200 day simple moving average of $85.49. The stock has a market capitalization of $49.11 billion, a price-to-earnings ratio of -303.99 and a beta of 2.60. The company has a quick ratio of 4.98, a current ratio of 5.48 and a debt-to-equity ratio of 0.01. Rocket Lab Corporation has a 12-month low of $37.57 and a 12-month high of $151.00.

Rocket Lab (NASDAQ:RKLB) last issued its quarterly earnings data on Monday, August 10th. The rocket manufacturer reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02). The company had revenue of $234.07 million for the quarter, compared to the consensus estimate of $231.62 million. Rocket Lab had a negative return on equity of 6.48% and a negative net margin of 21.51%. On average, research analysts anticipate that Rocket Lab Corporation will post -0.25 earnings per share for the current fiscal year.

Key Rocket Lab News

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

• Positive Sentiment: Viasat satellite-bus contract: Viasat selected Rocket Lab to build the satellite bus for a maneuverable, anti-jam spacecraft supporting the U.S. Space Force’s Protected Tactical SATCOM-Global program. The win strengthens Rocket Lab’s position in national-security satellite infrastructure and was described by Stifel as another successful contract award. Viasat Selects Rocket Lab to Build GEO Satellite for U.S. Space Force’s Protected Tactical SATCOM-Global Program
• Positive Sentiment: Access to $981 million Space Force program: Rocket Lab was onboarded to the NITE-STAR IDIQ contract, allowing it to compete for task orders involving space-based systems, ground infrastructure, digital training environments and mission operations. The contract expands its government pipeline, although the $981 million figure is a ceiling rather than guaranteed revenue. Rocket Lab Onboarded to U.S. Space Force’s NITE-STAR Program
• Positive Sentiment: Successful Globalstar deployment: Rocket Lab launched and established contact with eight satellite platforms built for MDA Space under a $143 million, 17-satellite contract supporting Globalstar’s direct-to-device and IoT network. The mission demonstrates Rocket Lab’s ability to manufacture, launch and operate satellites as an integrated provider. Rocket Lab Satellite Platforms Successfully Reach Orbit
• Neutral Sentiment: Analyst optimism: Coverage points to more than 35% potential upside, with a median analyst price target of $120. However, these projections are estimates and do not remove execution, valuation or launch risks. 2 ETFs to Capture Rocket Lab Stock’s Upside Potential
• Negative Sentiment: Insider selling remains a risk: Reported insider activity showed 106 open-market sales and no purchases during the past six months, including substantial selling by CEO Peter Beck and other executives. This may weigh on sentiment, particularly after RKLB’s strong advance.

Rocket Lab Company 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.