Hunter Associates Investment Management LLC Makes New Investment in Rocket Lab Corporation $RKLB

Hunter Associates Investment Management LLC bought a new stake in Rocket Lab Corporation (NASDAQ:RKLBFree Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,670 shares of the rocket manufacturer’s stock, valued at approximately $361,000.

A number of other hedge funds have also made changes to their positions in the company. Sara Bay Financial boosted its position in shares of Rocket Lab by 0.7% in the 4th quarter. Sara Bay Financial now owns 15,905 shares of the rocket manufacturer’s stock worth $1,121,000 after buying an additional 117 shares in the last quarter. ORG Partners LLC increased its holdings in Rocket Lab by 9.1% during the 4th quarter. ORG Partners LLC now owns 1,458 shares of the rocket manufacturer’s stock valued at $102,000 after acquiring an additional 121 shares in the last quarter. Sovereign Financial Group Inc. raised its position in Rocket Lab by 3.9% during the first quarter. Sovereign Financial Group Inc. now owns 3,320 shares of the rocket manufacturer’s stock worth $213,000 after acquiring an additional 125 shares during the last quarter. Traynor Capital Management Inc. raised its position in Rocket Lab by 1.9% during the fourth quarter. Traynor Capital Management Inc. now owns 7,191 shares of the rocket manufacturer’s stock worth $502,000 after acquiring an additional 133 shares during the last quarter. Finally, Capital Advisors Wealth Management LLC lifted its holdings in shares of Rocket Lab by 1.0% in the fourth quarter. Capital Advisors Wealth Management LLC now owns 13,466 shares of the rocket manufacturer’s stock valued at $939,000 after purchasing an additional 136 shares in the last quarter. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Insiders Place Their Bets

In other Rocket Lab news, Director Alexander R. Slusky sold 100,000 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $118.08, for a total transaction of $11,808,000.00. Following the transaction, the director owned 434,675 shares of the company’s stock, valued at $51,326,424. This represents a 18.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through 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 completion of the sale, the chief financial officer directly owned 983,049 shares of the company’s stock, valued at approximately $140,153,295.93. This represents a 6.00% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. In the last quarter, insiders sold 573,515 shares of company stock worth $76,412,122. 8.40% of the stock is owned by company insiders.

More Rocket Lab News

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

Rocket Lab Stock Performance

Shares of NASDAQ RKLB opened at $100.46 on Monday. The company has a 50-day simple moving average of $108.81 and a 200-day simple moving average of $86.56. 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 company has a market cap of $58.14 billion, a PE ratio of -313.94 and a beta of 2.54. Rocket Lab Corporation has a 12 month low of $35.25 and a 12 month high of $151.00.

Rocket Lab (NASDAQ:RKLBGet Free Report) last announced its quarterly earnings data on Thursday, May 7th. The rocket manufacturer reported ($0.07) earnings per share (EPS) for the quarter, meeting the consensus estimate 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 net margin of 26.87% and a negative return on equity of 11.72%. The company’s quarterly revenue was up 63.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.12) earnings per share. On average, equities analysts anticipate that Rocket Lab Corporation will post -0.29 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently commented on RKLB. Citizens Jmp increased their price target on shares of Rocket Lab from $95.00 to $130.00 and gave the company a “market outperform” rating in a research report on Tuesday, June 30th. Needham & Company LLC restated a “buy” rating and set a $120.00 price objective on shares of Rocket Lab in a research report on Tuesday, June 30th. KGI Securities assumed coverage on Rocket Lab in a research note on Thursday, June 11th. They issued a “neutral” rating and a $105.00 target price on the stock. Bank of America increased their target price on Rocket Lab from $105.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, June 30th. Finally, Clear Str raised Rocket Lab to a “strong-buy” rating in a report on Wednesday, March 18th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Rocket Lab currently has a consensus rating of “Moderate Buy” and a consensus price target of $108.24.

View Our Latest Research Report on RKLB

Rocket Lab Company 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.

Further Reading

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

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