Ieq Capital LLC Sells 65,613 Shares of Rocket Lab Corporation $RKLB

Ieq Capital LLC lowered its holdings in Rocket Lab Corporation (NASDAQ:RKLB) by 9.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 613,515 shares of the rocket manufacturer’s stock after selling 65,613 shares during the quarter. Ieq Capital LLC owned 0.11% of Rocket Lab worth $42,799,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in RKLB. Sara Bay Financial grew 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 worth $1,121,000 after buying an additional 117 shares during the last quarter. ORG Partners LLC grew its stake in Rocket Lab by 9.1% during the fourth quarter. ORG Partners LLC now owns 1,458 shares of the rocket manufacturer’s stock worth $102,000 after buying an additional 121 shares during the last quarter. Traynor Capital Management Inc. grew its stake 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 purchasing an additional 133 shares during the last quarter. Capital Advisors Wealth Management LLC grew its stake 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 purchasing an additional 136 shares during the last quarter. Finally, Quadcap Wealth Management LLC grew its stake 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 purchasing an additional 140 shares during the last quarter. Institutional investors own 71.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RKLB. BTIG Research reissued a “hold” rating on shares of Rocket Lab in a research note on Tuesday, May 12th. Roth Mkm lifted their target price on Rocket Lab from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, April 17th. Wells Fargo & Company began coverage on Rocket Lab in a research note on Wednesday, April 1st. They issued an “equal weight” rating and a $60.00 target price for the company. TD Cowen lifted their target price on Rocket Lab from $90.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Finally, Citigroup reissued an “outperform” rating on shares of Rocket Lab in a research note on Friday, May 8th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Rocket Lab presently has an average rating of “Moderate Buy” and a consensus price target of $99.24.

Rocket Lab Price Performance

Shares of RKLB stock opened at $102.39 on Friday. The firm’s 50 day moving average price is $101.62 and its two-hundred day moving average price is $81.03. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.02 and a current ratio of 4.47. The stock 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 earnings results on Thursday, May 7th. The rocket manufacturer reported ($0.07) earnings per share for the quarter, hitting the consensus estimate of ($0.07). The company had revenue of $200.35 million for the quarter, compared to analyst estimates of $189.65 million. Rocket Lab had a negative net margin of 26.87% and a negative return on equity of 11.72%. The business’s revenue for the quarter was up 63.4% compared to the same quarter last year. During the same period last year, the business posted ($0.12) earnings per share. As a group, analysts forecast that Rocket Lab Corporation will post -0.29 EPS for the current year.

More 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

Insider Buying and Selling at Rocket Lab

In related news, insider Frank Klein sold 36,860 shares of the firm’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $147.42, for a total transaction of $5,433,901.20. Following the sale, the insider directly owned 1,006,987 shares in the company, valued at $148,450,023.54. This trade represents a 3.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Alexander R. Slusky sold 40,000 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $123.60, for a total transaction of $4,944,000.00. Following the sale, the director owned 334,675 shares in the company, valued at approximately $41,365,830. The trade was a 10.68% 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 valued at $66,909,882 over the last quarter. 8.40% of the stock is currently owned by corporate insiders.

Rocket Lab 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.