Rocket Lab Corporation $RKLB Stock Position Boosted by Apollon Wealth Management LLC

Apollon Wealth Management LLC raised its stake in shares of Rocket Lab Corporation (NASDAQ:RKLBFree Report) by 90.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,722 shares of the rocket manufacturer’s stock after buying an additional 5,090 shares during the period. Apollon Wealth Management LLC’s holdings in Rocket Lab were worth $689,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Aventura Private Wealth LLC bought a new position in shares of Rocket Lab in the fourth quarter valued at approximately $25,000. Mcguire Capital Advisors Inc. bought a new stake in Rocket Lab during the fourth quarter worth approximately $27,000. Zions Bancorporation National Association UT acquired a new stake in Rocket Lab in the fourth quarter worth approximately $28,000. EverSource Wealth Advisors LLC lifted its position in Rocket Lab by 109.5% in the second quarter. EverSource Wealth Advisors LLC now owns 796 shares of the rocket manufacturer’s stock worth $28,000 after purchasing an additional 416 shares during the period. Finally, Gordian Capital Singapore Pte Ltd bought a new position in Rocket Lab during the 4th quarter valued at $29,000. 71.78% of the stock is owned by institutional investors and hedge funds.

Rocket Lab Stock Performance

Rocket Lab stock opened at $100.46 on Friday. The firm’s 50 day simple moving average is $108.81 and its 200-day simple moving average is $86.34. The company has a market cap of $58.14 billion, a P/E ratio of -313.94 and a beta of 2.54. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.47 and a quick ratio of 4.02. Rocket Lab Corporation has a fifty-two week low of $35.25 and a fifty-two week high of $151.00.

Rocket Lab (NASDAQ:RKLBGet Free Report) last issued its quarterly earnings results on Thursday, May 7th. The rocket manufacturer reported ($0.07) EPS for the quarter, meeting the consensus estimate 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 during the quarter, compared to the consensus estimate of $189.65 million. During the same quarter in the prior year, the firm earned ($0.12) EPS. The firm’s quarterly revenue was up 63.4% on a year-over-year basis. As a group, equities research analysts predict that Rocket Lab Corporation will post -0.29 EPS for the current year.

Insider Activity at Rocket Lab

In other news, insider Marvin Bradford Clevenger sold 3,500 shares of the firm’s stock in a transaction 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 completion of the sale, the insider owned 473,975 shares of the company’s stock, valued at $69,517,913.25. This trade represents a 0.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Adam C. Spice sold 62,744 shares of Rocket Lab stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $142.57, for a total value of $8,945,412.08. Following the transaction, the chief financial officer owned 983,049 shares in the company, valued at $140,153,295.93. This represents a 6.00% decrease in their position. 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. Over the last 90 days, insiders sold 573,515 shares of company stock worth $76,412,122. Insiders own 8.40% of the company’s stock.

Rocket Lab News Summary

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. New Street Research initiated coverage on Rocket Lab in a research report on Wednesday, May 13th. They set a “buy” rating and a $150.00 price target on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $96.00 target price on shares of Rocket Lab in a research note on Tuesday, June 30th. Roth Mkm lifted their target price on Rocket Lab from $100.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, June 29th. Needham & Company LLC reiterated a “buy” rating and issued a $120.00 price target on shares of Rocket Lab in a research report on Tuesday, June 30th. Finally, Stifel Nicolaus set a $132.00 price target on shares of Rocket Lab in a report on Thursday, June 4th. Three investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $108.24.

Get Our Latest Stock Report on RKLB

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.

Further Reading

Want to see what other hedge funds are holding RKLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rocket Lab Corporation (NASDAQ:RKLBFree Report).

Institutional Ownership by Quarter for Rocket Lab (NASDAQ:RKLB)

Receive News & Ratings for Rocket Lab Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rocket Lab and related companies with MarketBeat.com's FREE daily email newsletter.