Rocket Lab Corporation $RKLB Shares Acquired by Farther Finance Advisors LLC

Farther Finance Advisors LLC increased its holdings in shares of Rocket Lab Corporation (NASDAQ:RKLBFree Report) by 603.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,667 shares of the rocket manufacturer’s stock after acquiring an additional 12,581 shares during the period. Farther Finance Advisors LLC’s holdings in Rocket Lab were worth $703,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Sound Income Strategies LLC purchased a new stake in shares of Rocket Lab during the 3rd quarter worth $27,000. EverSource Wealth Advisors LLC lifted its stake in shares of Rocket Lab by 109.5% in the second quarter. EverSource Wealth Advisors LLC now owns 796 shares of the rocket manufacturer’s stock valued at $28,000 after purchasing an additional 416 shares during the period. Atlantic Union Bankshares Corp purchased a new stake in Rocket Lab during the second quarter worth about $36,000. Kilter Group LLC acquired a new position in Rocket Lab during the second quarter worth about $37,000. Finally, ORG Partners LLC grew its position in Rocket Lab by 491.9% during the second quarter. ORG Partners LLC now owns 1,095 shares of the rocket manufacturer’s stock worth $38,000 after buying an additional 910 shares during the period. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Rocket Lab Stock Up 0.5%

Shares of NASDAQ:RKLB opened at $70.45 on Wednesday. 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 has a market capitalization of $37.63 billion, a P/E ratio of -185.39 and a beta of 2.20. Rocket Lab Corporation has a 52-week low of $14.71 and a 52-week high of $79.83. The stock’s fifty day simple moving average is $55.51 and its 200-day simple moving average is $49.64.

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 the consensus estimate of ($0.05) by $0.02. Rocket Lab had a negative net margin of 35.64% and a negative return on equity of 27.26%. The firm had revenue of $155.08 million during the quarter, compared to the consensus estimate of $152.45 million. During the same quarter in the previous year, the company posted ($0.10) EPS. The firm’s revenue for the quarter was up 48.0% on a year-over-year basis. As a group, equities research analysts forecast that Rocket Lab Corporation will post -0.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on RKLB shares. Robert W. Baird started coverage on Rocket Lab in a research note on Wednesday, October 15th. They set an “outperform” rating and a $83.00 price target on the stock. Bank of America boosted their target price on Rocket Lab from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, November 19th. Morgan Stanley lowered their target price on Rocket Lab from $68.00 to $67.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 12th. Roth Capital reaffirmed a “buy” rating and set a $75.00 price target on shares of Rocket Lab in a research note on Tuesday, November 11th. Finally, Stifel Nicolaus increased their price objective on shares of Rocket Lab from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, December 22nd. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Rocket Lab presently has a consensus rating of “Moderate Buy” and an average target price of $61.25.

Read Our Latest Report on RKLB

Rocket Lab News Roundup

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

Insider Buying and Selling at Rocket Lab

In related news, CFO Adam C. Spice sold 46,994 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The shares were 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 in the company, valued at approximately $81,530,940.78. This trade represents a 2.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Arjun Kampani sold 28,615 shares of the business’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $40.65, for a total value of $1,163,199.75. Following the completion of the transaction, the senior vice president owned 461,014 shares of the company’s stock, valued at $18,740,219.10. This trade represents a 5.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 2,731,985 shares of company stock valued at $152,026,345. 11.90% of the stock is owned by corporate insiders.

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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