Capital Wealth Planning LLC Buys 53,778 Shares of Rocket Lab Corporation $RKLB

Capital Wealth Planning LLC lifted its stake in Rocket Lab Corporation (NASDAQ:RKLBFree Report) by 903.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 59,731 shares of the rocket manufacturer’s stock after purchasing an additional 53,778 shares during the quarter. Capital Wealth Planning LLC’s holdings in Rocket Lab were worth $4,167,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Zions Bancorporation National Association UT bought a new position in shares of Rocket Lab in the fourth quarter worth about $28,000. Janney Montgomery Scott LLC raised its stake in shares of Rocket Lab by 95.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 127,354 shares of the rocket manufacturer’s stock worth $8,884,000 after buying an additional 62,213 shares during the period. Deutsche Bank AG raised its stake in shares of Rocket Lab by 174.5% in the fourth quarter. Deutsche Bank AG now owns 2,336,845 shares of the rocket manufacturer’s stock worth $163,018,000 after buying an additional 1,485,621 shares during the period. Motley Fool Asset Management LLC raised its stake in shares of Rocket Lab by 541.3% in the fourth quarter. Motley Fool Asset Management LLC now owns 50,311 shares of the rocket manufacturer’s stock worth $3,510,000 after buying an additional 42,466 shares during the period. Finally, Gordian Capital Singapore Pte Ltd bought a new stake in Rocket Lab during the 4th quarter valued at approximately $29,000. Institutional investors own 71.78% of the company’s stock.

Rocket Lab Stock Down 2.9%

Shares of RKLB opened at $105.05 on Thursday. The business’s 50 day moving average is $99.88 and its 200 day moving average is $80.36. The company has a market capitalization of $60.80 billion, a PE ratio of -328.28 and a beta of 2.49. Rocket Lab Corporation has a 12-month low of $25.24 and a 12-month high of $151.00. The company has a current ratio of 4.47, a quick ratio of 4.02 and a debt-to-equity ratio of 0.02.

Rocket Lab (NASDAQ:RKLBGet Free Report) last released its quarterly earnings results on Thursday, May 7th. The rocket manufacturer reported ($0.07) earnings per share for the quarter, meeting the consensus estimate of ($0.07). Rocket Lab had a negative return on equity of 11.72% and a negative net margin of 26.87%.The business had revenue of $200.35 million during the quarter, compared to analysts’ expectations of $189.65 million. During the same quarter last year, the business posted ($0.12) EPS. The firm’s revenue for the quarter was up 63.4% compared to the same quarter last year. Research analysts expect that Rocket Lab Corporation will post -0.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Rocket Lab news, Director Alexander R. Slusky sold 40,000 shares of Rocket Lab stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $123.60, for a total value of $4,944,000.00. Following the sale, the director owned 334,675 shares of the company’s stock, valued at $41,365,830. The trade was a 10.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Arjun Kampani sold 23,804 shares of Rocket Lab stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $147.43, for a total value of $3,509,423.72. Following the completion of the sale, the senior vice president directly owned 352,705 shares in the company, valued at approximately $51,999,298.15. The trade was a 6.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 485,515 shares of company stock worth $66,909,882. Insiders own 8.40% of the company’s stock.

More Rocket Lab News

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

Wall Street Analysts Forecast Growth

RKLB has been the topic of several recent analyst reports. Needham & Company LLC lifted their target price on Rocket Lab from $95.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Citizens Jmp lifted their target price on Rocket Lab from $85.00 to $95.00 and gave the company a “market outperform” rating in a research note on Friday, May 8th. Stifel Nicolaus set a $132.00 target price on Rocket Lab in a research note on Thursday, June 4th. Citigroup reissued an “outperform” rating on shares of Rocket Lab in a research note on Friday, May 8th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Rocket Lab in a research note on Wednesday, May 27th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.88.

Read Our Latest Report on Rocket Lab

Rocket Lab Profile

(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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