California Public Employees Retirement System Grows Stake in Rocket Lab Corporation $RKLB

California Public Employees Retirement System boosted its stake in shares of Rocket Lab Corporation (NASDAQ:RKLB) by 8.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 796,181 shares of the rocket manufacturer’s stock after acquiring an additional 63,323 shares during the quarter. California Public Employees Retirement System’s holdings in Rocket Lab were worth $51,131,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in RKLB. Aventura Private Wealth LLC bought a new stake in shares of Rocket Lab in the 4th quarter valued at approximately $25,000. Mcguire Capital Advisors Inc. purchased a new position in shares of Rocket Lab in the 4th quarter worth approximately $27,000. Zions Bancorporation National Association UT bought a new position in shares of Rocket Lab during the 4th quarter valued at approximately $28,000. EverSource Wealth Advisors LLC increased 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 valued at $28,000 after purchasing an additional 416 shares during the last quarter. Finally, Gordian Capital Singapore Pte Ltd purchased a new stake in Rocket Lab during the 4th quarter valued at $29,000. 71.78% of the stock is currently owned by hedge funds and other institutional investors.

Rocket Lab News Summary

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

• Neutral Sentiment: Recent articles highlight that RKLB has been falling quickly, with traders and retail investors debating whether the stock is now oversold or still has further downside. Should You Buy Rocket Lab Stock Below $70?
• Neutral Sentiment: Despite the selloff, some retail investors remain bullish on Rocket Lab, arguing that a future catalyst could help the stock recover if execution improves. Reddit Still Believes in Rocket Lab Even as Shares Slide: Inside the Retail Sentiment
• Neutral Sentiment: One article noted Rocket Lab’s shares have declined more than the broader market in the latest session, underscoring the recent weak momentum in the name. Rocket Lab Corporation (RKLB) Declines More Than Market: Some Information for Investors
• Neutral Sentiment: Coverage also points to Rocket Lab’s growing competition with SpaceX, with investors watching whether RKLB can establish itself as a stronger direct rival in the space launch market. Rocket Lab’s Latest Deal Puts It on a Collision Course With SpaceX
• Negative Sentiment: Sentiment in one piece suggested that SpaceX-related market enthusiasm may be fading, which is spilling over into Rocket Lab and weighing on the stock. SpaceX’s IPO Shine Fades, Taking ASTS And RKLB With It — But There Are 2 Surprise Winners This Month

Rocket Lab Price Performance

Shares of RKLB stock opened at $65.74 on Tuesday. Rocket Lab Corporation has a 52-week low of $37.57 and a 52-week high of $151.00. 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 firm has a market capitalization of $38.05 billion, a P/E ratio of -205.44 and a beta of 2.54. The stock has a 50 day moving average price of $106.94 and a 200 day moving average price of $87.24.

Rocket Lab (NASDAQ:RKLB) last posted its quarterly earnings data 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 company had revenue of $200.35 million during the quarter, compared to analysts’ expectations 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 revenue was up 63.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.12) EPS. As a group, sell-side analysts predict that Rocket Lab Corporation will post -0.26 earnings per share for the current year.

Insider Activity

In other news, insider Marvin Bradford Clevenger sold 3,500 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $146.67, for a total value of $513,345.00. Following the transaction, the insider directly owned 473,975 shares in the company, valued at approximately $69,517,913.25. This represents a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Peter Beck sold 990,960 shares of the company’s stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $82.86, for a total transaction of $82,110,945.60. Following the completion of the transaction, the chief executive officer owned 1,724,221 shares in the company, valued at approximately $142,868,952.06. The trade was a 36.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 3,849,294 shares of company stock valued at $362,816,208. Insiders own 8.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on RKLB shares. KGI Securities began coverage on Rocket Lab in a research report on Thursday, June 11th. They issued a “neutral” rating and a $105.00 price target for the company. TD Cowen boosted their price objective on shares of Rocket Lab from $90.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Bank of America increased their target price on shares of Rocket Lab from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, June 30th. Citizens Jmp raised their target price on shares of Rocket Lab from $95.00 to $130.00 and gave the stock a “market outperform” rating in a report on Tuesday, June 30th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Rocket Lab in a research note on Wednesday, July 8th. Three research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $110.18.

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.