Annis Gardner Whiting Capital Advisors LLC Makes New Investment in Rocket Lab Corporation $RKLB

Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Rocket Lab Corporation (NASDAQ:RKLB) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 9,320 shares of the rocket manufacturer’s stock, valued at approximately $447,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in RKLB. Wilmington Savings Fund Society FSB bought a new position in Rocket Lab in the 3rd quarter valued at about $25,000. Hara Capital LLC purchased a new stake in shares of Rocket Lab in the third quarter worth approximately $25,000. Sound Income Strategies LLC purchased a new stake in shares of Rocket Lab in the third quarter worth approximately $27,000. EverSource Wealth Advisors LLC lifted its holdings 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 in the last quarter. Finally, Financial Consulate Inc. purchased a new position in shares of Rocket Lab during the third quarter valued at approximately $35,000. 71.78% of the stock is owned by institutional investors.

Insider Activity at Rocket Lab

In other Rocket Lab news, CFO Adam C. Spice sold 1,365,665 shares of the company’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $75.50, for a total transaction of $103,107,707.50. Following the sale, the chief financial officer directly owned 1,359,568 shares of the company’s stock, valued at $102,647,384. This represents a 50.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Arjun Kampani sold 28,615 shares of the stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $40.65, for a total transaction of $1,163,199.75. Following the transaction, the senior vice president owned 461,014 shares of the company’s stock, valued at $18,740,219.10. This represents a 5.84% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 4,306,150 shares of company stock worth $271,865,732 in the last three months. Corporate insiders own 11.90% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on RKLB. Morgan Stanley raised Rocket Lab from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $67.00 to $105.00 in a research report on Friday, January 16th. Stifel Nicolaus increased their target price on shares of Rocket Lab from $75.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 22nd. Cantor Fitzgerald restated an “overweight” rating on shares of Rocket Lab in a report on Wednesday, December 3rd. Needham & Company LLC increased their price objective on shares of Rocket Lab from $63.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, December 23rd. Finally, Citigroup reissued a “market perform” rating on shares of Rocket Lab in a research report on Wednesday, November 12th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Rocket Lab presently has an average rating of “Moderate Buy” and an average price target of $72.92.

Rocket Lab Stock Down 3.3%

Rocket Lab stock opened at $85.68 on Friday. The firm has a 50 day moving average price of $69.11 and a 200-day moving average price of $57.26. The company has a quick ratio of 2.83, a current ratio of 3.18 and a debt-to-equity ratio of 0.32. Rocket Lab Corporation has a twelve month low of $14.71 and a twelve month high of $99.58. The company has a market capitalization of $45.77 billion, a P/E ratio of -225.47 and a beta of 2.16.

Rocket Lab (NASDAQ:RKLB) last posted its quarterly earnings data on Monday, November 10th. The rocket manufacturer reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.02. Rocket Lab had a negative return on equity of 27.26% and a negative net margin of 35.64%.The business had revenue of $155.08 million for the quarter, compared to the consensus estimate of $152.45 million. During the same quarter in the prior year, the business earned ($0.10) earnings per share. Rocket Lab’s revenue for the quarter was up 48.0% on a year-over-year basis. As a group, equities analysts predict that Rocket Lab Corporation will post -0.38 EPS for the current year.

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.