Entropy Technologies LP Has $3.85 Million Stock Position in Rocket Lab Corporation $RKLB

Entropy Technologies LP boosted its stake in Rocket Lab Corporation (NASDAQ:RKLB) by 18.5% during the 4th quarter, HoldingsChannel reports. The fund owned 55,117 shares of the rocket manufacturer’s stock after acquiring an additional 8,603 shares during the quarter. Entropy Technologies LP’s holdings in Rocket Lab were worth $3,845,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in RKLB. Aventura Private Wealth LLC bought a new stake in Rocket Lab in the 4th quarter valued at $25,000. Zions Bancorporation National Association UT bought a new stake in Rocket Lab in the 4th quarter valued at $28,000. EverSource Wealth Advisors LLC lifted its position in Rocket Lab by 109.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 796 shares of the rocket manufacturer’s stock valued at $28,000 after acquiring an additional 416 shares in the last quarter. Gordian Capital Singapore Pte Ltd bought a new stake in Rocket Lab in the 4th quarter valued at $29,000. Finally, Ankerstar Wealth LLC bought a new stake in Rocket Lab in the 4th quarter valued at $31,000. 71.78% of the stock is owned by institutional investors.

Rocket Lab Price Performance

NASDAQ:RKLB opened at $102.39 on Monday. 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’s 50-day simple moving average is $101.62 and its 200 day simple moving average is $81.30. The company has a market cap of $59.26 billion, a P/E ratio of -319.97 and a beta of 2.48. Rocket Lab Corporation has a 52-week low of $25.24 and a 52-week high of $151.00.

Rocket Lab (NASDAQ:RKLB) last released its earnings results on Thursday, May 7th. The rocket manufacturer reported ($0.07) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.07). The business had revenue of $200.35 million for the quarter, compared to the consensus estimate of $189.65 million. Rocket Lab had a negative return on equity of 11.72% and a negative net margin of 26.87%.Rocket Lab’s quarterly revenue was up 63.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.12) earnings per share. As a group, sell-side analysts forecast that Rocket Lab Corporation will post -0.29 EPS for the current fiscal year.

Key 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

Analyst Upgrades and Downgrades

RKLB has been the topic of several research reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Rocket Lab in a research report on Wednesday, May 27th. Wells Fargo & Company initiated coverage on shares of Rocket Lab in a research report on Wednesday, April 1st. They issued an “equal weight” rating and a $60.00 price objective on the stock. Stifel Nicolaus set a $132.00 price objective on shares of Rocket Lab in a research report on Thursday, June 4th. BTIG Research reaffirmed a “hold” rating on shares of Rocket Lab in a research report on Tuesday, May 12th. Finally, KGI Securities initiated coverage on shares of Rocket Lab in a research report on Thursday. They issued a “neutral” rating and a $105.00 price objective on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $102.76.

Insider Buying and Selling

In other news, SVP Arjun Kampani sold 23,804 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $147.43, for a total value of $3,509,423.72. Following the sale, the senior vice president directly owned 352,705 shares of the company’s stock, valued at approximately $51,999,298.15. This represents a 6.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Adam C. Spice sold 62,744 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $142.57, for a total transaction of $8,945,412.08. Following the completion of the sale, the chief financial officer directly owned 983,049 shares in the company, valued at approximately $140,153,295.93. The trade was a 6.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 485,515 shares of company stock worth $66,909,882 in the last 90 days. 8.40% of the stock is owned by corporate insiders.

About Rocket Lab

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.