Rocket Lab Corporation $RKLB Stake Lifted by Caitong International Asset Management Co. Ltd

Caitong International Asset Management Co. Ltd lifted its holdings in shares of Rocket Lab Corporation (NASDAQ:RKLB) by 19,447.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 307,873 shares of the rocket manufacturer’s stock after acquiring an additional 306,298 shares during the period. Rocket Lab accounts for approximately 5.2% of Caitong International Asset Management Co. Ltd’s investment portfolio, making the stock its 4th biggest holding. Caitong International Asset Management Co. Ltd’s holdings in Rocket Lab were worth $21,477,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in RKLB. Aventura Private Wealth LLC acquired a new position in Rocket Lab in the fourth quarter valued at approximately $25,000. Mcguire Capital Advisors Inc. acquired a new stake in Rocket Lab during the fourth quarter worth approximately $27,000. Zions Bancorporation National Association UT purchased a new stake in shares of Rocket Lab during the 4th quarter worth approximately $28,000. EverSource Wealth Advisors LLC lifted its position in shares of Rocket Lab by 109.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 796 shares of the rocket manufacturer’s stock worth $28,000 after buying an additional 416 shares during the last quarter. Finally, Gordian Capital Singapore Pte Ltd acquired a new position in shares of Rocket Lab in the 4th quarter valued at $29,000. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Rocket Lab Price Performance

Shares of NASDAQ RKLB opened at $107.24 on Friday. Rocket Lab Corporation has a 1-year low of $27.84 and a 1-year high of $151.00. The company has a market cap of $62.07 billion, a PE ratio of -335.12 and a beta of 2.49. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.47 and a quick ratio of 4.02. The stock has a fifty day moving average price of $105.58 and a 200 day moving average price of $83.31.

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

Analyst Ratings Changes

A number of research analysts recently commented on the stock. New Street Research began coverage on shares of Rocket Lab in a research report on Wednesday, May 13th. They issued a “buy” rating and a $150.00 target price on the stock. Citigroup reissued an “outperform” rating on shares of Rocket Lab in a research report on Friday, May 8th. KGI Securities began coverage on shares of Rocket Lab in a research note on Thursday, June 11th. They issued a “neutral” rating and a $105.00 price objective for the company. Needham & Company LLC raised their price objective on Rocket Lab from $95.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Finally, Craig Hallum raised Rocket Lab from a “hold” rating to a “buy” rating and set a $98.00 target price for the company in a research report on Friday, May 8th. Three investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Rocket Lab currently has a consensus rating of “Moderate Buy” and an average price target of $102.76.

Rocket Lab News Summary

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

• Positive Sentiment: Rocket Lab is being added to the Nasdaq-100, a move that could bring steady institutional buying from passive funds and ETFs tracking the index. Why Rocket Lab’s Nasdaq-100 Moment Could Change the Story
• Positive Sentiment: The company passed a key SDA review, supporting the credibility of its space systems and defense business expansion. Rocket Lab (RKLB) Passes Key SDA Review As Nasdaq 100 Inclusion Reshapes Its Story
• Positive Sentiment: Recent commentary continues to highlight Rocket Lab’s strong fundamentals, including record quarterly revenue and a large backlog, which support the long-term growth narrative. Rocket Lab (RKLB) Stock Falls 30% Despite Record Q1 Results and Nasdaq-100 Entry
• Neutral Sentiment: Analyst and media commentary continues to frame RKLB as a high-growth space stock with meaningful upside, but also a relatively rich valuation after a sharp run. Price Prediction: Rocket Lab Will Hit $150 on This Date
• Negative Sentiment: SVP Arjun Kampani sold 88,000 shares worth about $9.5 million, and the insider sale has added to profit-taking concerns. Rocket Lab (NASDAQ:RKLB) SVP Sells 88,000 Shares

Insider Activity at Rocket Lab

In related news, insider Marvin Bradford Clevenger sold 3,500 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $146.67, for a total value of $513,345.00. Following the sale, the insider owned 473,975 shares in the company, valued at $69,517,913.25. This represents a 0.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Arjun Kampani sold 88,000 shares of the company’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $107.98, for a total value of $9,502,240.00. Following the completion of the sale, the senior vice president directly owned 264,705 shares in the company, valued at $28,582,845.90. This trade represents a 24.95% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 573,515 shares of company stock worth $76,412,122. 8.40% of the stock is currently owned by insiders.

Rocket Lab 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.