180 Wealth Advisors LLC Buys Shares of 34,758 Rocket Lab Corporation $RKLB

180 Wealth Advisors LLC bought a new position in Rocket Lab Corporation (NASDAQ:RKLBFree Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 34,758 shares of the rocket manufacturer’s stock, valued at approximately $1,665,000.

A number of other large investors also recently modified their holdings of the company. Sound Income Strategies LLC bought a new position in Rocket Lab in the third quarter worth about $27,000. EverSource Wealth Advisors LLC raised its position in shares of Rocket Lab by 109.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 796 shares of the rocket manufacturer’s stock worth $28,000 after acquiring an additional 416 shares in the last quarter. Atlantic Union Bankshares Corp purchased a new position in shares of Rocket Lab in the 2nd quarter valued at approximately $36,000. Kilter Group LLC purchased a new stake in Rocket Lab in the second quarter worth $37,000. Finally, ORG Partners LLC raised its holdings in Rocket Lab by 491.9% in the second quarter. ORG Partners LLC now owns 1,095 shares of the rocket manufacturer’s stock worth $38,000 after purchasing an additional 910 shares in the last quarter. 71.78% of the stock is owned by hedge funds and other institutional investors.

Rocket Lab News Summary

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

Rocket Lab Stock Down 8.5%

Shares of Rocket Lab stock opened at $70.65 on Friday. Rocket Lab Corporation has a twelve month low of $14.71 and a twelve month high of $79.83. The company has a quick ratio of 2.83, a current ratio of 3.18 and a debt-to-equity ratio of 0.32. The company’s 50 day moving average is $55.35 and its 200 day moving average is $48.86. The company has a market cap of $37.74 billion, a price-to-earnings ratio of -185.92 and a beta of 2.20.

Rocket Lab (NASDAQ:RKLBGet Free Report) last announced its earnings results on Monday, November 10th. The rocket manufacturer reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. The business had revenue of $155.08 million during the quarter, compared to analyst estimates of $152.45 million. Rocket Lab had a negative net margin of 35.64% and a negative return on equity of 27.26%. The company’s quarterly revenue was up 48.0% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.10) EPS. Research analysts anticipate that Rocket Lab Corporation will post -0.38 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on RKLB shares. Citigroup reaffirmed a “market perform” rating on shares of Rocket Lab in a research report on Wednesday, November 12th. Bank of America lifted their target price on shares of Rocket Lab from $50.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, November 19th. KeyCorp upped their price target on Rocket Lab from $50.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday, October 17th. Cantor Fitzgerald reissued an “overweight” rating on shares of Rocket Lab in a report on Wednesday, December 3rd. Finally, Stifel Nicolaus raised their price target on Rocket Lab from $75.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $61.25.

Get Our Latest Research Report on Rocket Lab

Insider Activity at Rocket Lab

In related news, CFO Adam C. Spice sold 46,994 shares of Rocket Lab stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $40.86, for a total transaction of $1,920,174.84. Following the sale, the chief financial officer owned 1,995,373 shares of the company’s stock, valued at approximately $81,530,940.78. This trade represents a 2.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Nina Armagno sold 27,314 shares of the business’s stock in a transaction on Friday, December 19th. The stock was sold at an average price of $68.21, for a total transaction of $1,863,087.94. Following the completion of the transaction, the director directly owned 108,940 shares in the company, valued at $7,430,797.40. This trade represents a 20.05% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 2,729,485 shares of company stock worth $151,832,870 in the last 90 days. Company insiders own 11.90% of the company’s stock.

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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