10,000 Shares in Rocket Lab Corporation $RKLB Purchased by Y.D. More Investments Ltd

Key Points

• Y.D. More Investments Ltd opened a new position in Rocket Lab, buying 10,000 shares worth about $642,000 in the first quarter.
• Institutional ownership in RKLB remains high, with hedge funds and other institutions holding 71.78% of the stock. Several large investors, including Vanguard and Baillie Gifford, also increased their stakes.
• Analysts remain generally bullish on Rocket Lab, with a consensus rating of “Moderate Buy” and an average price target of $111.88, even as the shares recently fell 5.3%.

Y.D. More Investments Ltd acquired a new position in Rocket Lab Corporation (NASDAQ:RKLB - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 10,000 shares of the rocket manufacturer's stock, valued at approximately $642,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RKLB. Swedbank AB grew its stake in shares of Rocket Lab by 8.2% during the 4th quarter. Swedbank AB now owns 509,250 shares of the rocket manufacturer's stock worth $35,525,000 after acquiring an additional 38,770 shares during the period. Firsthand Capital Management Inc. increased its holdings in Rocket Lab by 40.0% in the 3rd quarter. Firsthand Capital Management Inc. now owns 70,000 shares of the rocket manufacturer's stock worth $3,354,000 after acquiring an additional 20,000 shares during the last quarter. Vanguard Group Inc. raised its stake in Rocket Lab by 13.4% in the 4th quarter. Vanguard Group Inc. now owns 47,420,192 shares of the rocket manufacturer's stock valued at $3,308,033,000 after acquiring an additional 5,610,469 shares during the period. Westfield Capital Management Co. LP raised its stake in Rocket Lab by 6.3% in the 4th quarter. Westfield Capital Management Co. LP now owns 2,592,443 shares of the rocket manufacturer's stock valued at $180,849,000 after acquiring an additional 154,623 shares during the period. Finally, Baillie Gifford & Co. lifted its holdings in Rocket Lab by 47.2% during the fourth quarter. Baillie Gifford & Co. now owns 17,851,446 shares of the rocket manufacturer's stock valued at $1,245,317,000 after purchasing an additional 5,725,536 shares during the last quarter. 71.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on RKLB shares. Clear Str upgraded shares of Rocket Lab to a "strong-buy" rating in a research report on Wednesday, March 18th. Citizens Jmp boosted 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. Citigroup restated an "outperform" rating on shares of Rocket Lab in a research note on Tuesday, June 30th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Rocket Lab from $73.00 to $120.00 and gave the stock a "buy" rating in a report on Tuesday, May 12th. Finally, KeyCorp upgraded shares of Rocket Lab from a "sector weight" rating to an "overweight" rating and set a $135.00 price objective for the company in a research note on Monday, June 15th. Three research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Rocket Lab currently has a consensus rating of "Moderate Buy" and an average price target of $111.88.

Rocket Lab Stock Down 5.3%

Shares of NASDAQ RKLB opened at $76.73 on Tuesday. The company has a quick ratio of 4.02, a current ratio of 4.47 and a debt-to-equity ratio of 0.02. The company has a market cap of $44.41 billion, a P/E ratio of -239.78 and a beta of 2.54. Rocket Lab Corporation has a 52 week low of $37.57 and a 52 week high of $151.00. The business has a 50-day simple moving average of $109.12 and a two-hundred day simple moving average of $87.30.

Rocket Lab (NASDAQ:RKLB - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The rocket manufacturer reported ($0.07) earnings per share for the quarter, meeting the consensus estimate of ($0.07). Rocket Lab had a negative return on equity of 11.72% and a negative net margin of 26.87%.The firm had revenue of $200.35 million for the quarter, compared to analysts' expectations of $189.65 million. During the same period in the prior year, the business posted ($0.12) earnings per share. The company's revenue was up 63.4% on a year-over-year basis. Research analysts anticipate that Rocket Lab Corporation will post -0.26 earnings per share for the current fiscal year.

Trending Headlines about Rocket Lab

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

• Positive Sentiment: Cantor reiterated a Buy rating on Rocket Lab after the successful VICTUS HAZE mission, reinforcing confidence in the company’s execution and space systems capabilities. Article Title
• Positive Sentiment: Rocket Lab has continued to post mission and contract wins, including a recent U.S. Space Force mission success and a NASA launch award, which support the bullish long-term growth case. Article Title
• Neutral Sentiment: Analysts remain generally constructive, with recent price targets clustered around the low-to-mid $100s and multiple firms maintaining bullish ratings on RKLB. Article Title
• Negative Sentiment: Investor concern is building around Rocket Lab’s planned Iridium acquisition, which includes a large cash-and-stock structure and has raised questions about financing, leverage, and dilution for shareholders. Article Title
• Negative Sentiment: Broader weakness in growth and space-related stocks is also weighing on RKLB, suggesting some of the selling is tied to risk-off sentiment rather than a company-specific operational miss. Article Title
• Negative Sentiment: Recent insider selling and heavy debate about the stock’s technical support levels are adding to caution among traders. Article Title

Insider Transactions at Rocket Lab

In related 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 value of $11,808,000.00. Following the sale, the director owned 434,675 shares in the company, valued at approximately $51,326,424. This trade represents a 18.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Arjun Kampani sold 88,000 shares of Rocket Lab 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 sale, the senior vice president directly owned 264,705 shares of the company's stock, valued at $28,582,845.90. This represents a 24.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 3,849,294 shares of company stock worth $362,816,208. 8.40% of the stock is owned by corporate insiders.

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.

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