431,074 Shares in Rocket Lab Corporation $RKLB Bought by USS Investment Management Ltd

Key Points

• USS Investment Management Ltd disclosed a new first-quarter stake in Rocket Lab, buying 431,074 shares worth about $27.7 million. The position represented roughly 0.08% of the company at quarter-end.
• Rocket Lab continues to draw strong institutional and analyst interest, with 71.78% of shares owned by institutions and several Wall Street firms raising price targets. The stock currently carries a Moderate Buy consensus and an average target price of $108.24.
• The company recently reported quarterly earnings of -$0.07 per share, matching expectations, while revenue rose 63.4% year over year to $200.35 million. However, insiders have also been selling shares in recent weeks, including a director and an executive.

USS Investment Management Ltd bought a new stake in Rocket Lab Corporation (NASDAQ:RKLB - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 431,074 shares of the rocket manufacturer's stock, valued at approximately $27,666,000. USS Investment Management Ltd owned approximately 0.08% of Rocket Lab at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sara Bay Financial grew its holdings 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 valued at $1,121,000 after acquiring an additional 117 shares in the last quarter. ORG Partners LLC raised its holdings in Rocket Lab by 9.1% during the fourth quarter. ORG Partners LLC now owns 1,458 shares of the rocket manufacturer's stock worth $102,000 after acquiring an additional 121 shares in the last quarter. Sovereign Financial Group Inc. raised its holdings 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 in the last quarter. Traynor Capital Management Inc. boosted 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 valued at $502,000 after purchasing an additional 133 shares during the last quarter. Finally, Capital Advisors Wealth Management LLC grew its stake in 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. 71.78% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft upped their price objective on Rocket Lab from $73.00 to $120.00 and gave the stock a "buy" rating in a research note on Tuesday, May 12th. TD Cowen raised their target price on shares of Rocket Lab from $90.00 to $120.00 and gave the company a "buy" rating in a research note on Friday, May 8th. Citigroup restated an "outperform" rating on shares of Rocket Lab in a report on Tuesday. 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 target for the company. Finally, Stifel Nicolaus set a $132.00 price objective on shares of Rocket Lab in a research report on Thursday, June 4th. Three equities 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 company's stock. According to data from MarketBeat, Rocket Lab currently has an average rating of "Moderate Buy" and an average target price of $108.24.

More Rocket Lab News

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

• Positive Sentiment: Rocket Lab’s acquisition of Iridium is seen as a transformational move that adds recurring telecom revenue, satellite network assets, and spectrum rights. Rocket Lab Defies Gravity With $8B Buyout
• Positive Sentiment: Multiple analysts responded favorably to the deal, with price-target hikes and reiterated buy ratings suggesting the market may be revaluing RKLB as a broader space infrastructure play. Rocket Lab Stock (RKLB) Surges as Top BofA Analyst Cheers Iridium Deal
• Positive Sentiment: Investor coverage framed the acquisition as a step toward a “vertically integrated” space powerhouse, which has supported buying across the sector and helped lift RKLB sentiment. Rocket Lab Stock Jumps as Top Analyst Lifts Price Target, Sees a ‘Vertically Integrated Space Platform’

Rocket Lab Stock Up 3.7%

RKLB stock opened at $101.65 on Wednesday. The company has a current ratio of 4.47, a quick ratio of 4.02 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $58.83 billion, a PE ratio of -317.66 and a beta of 2.49. Rocket Lab Corporation has a 1-year low of $33.73 and a 1-year high of $151.00. The business's 50 day simple moving average is $108.11 and its 200 day simple moving average is $85.71.

Rocket Lab (NASDAQ:RKLB - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The rocket manufacturer reported ($0.07) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.07). Rocket Lab had a negative return on equity of 11.72% and a negative net margin of 26.87%.The business had revenue of $200.35 million for the quarter, compared to analysts' expectations of $189.65 million. During the same quarter in the prior year, the business earned ($0.12) EPS. The firm's revenue for the quarter was up 63.4% on a year-over-year basis. As a group, research analysts anticipate that Rocket Lab Corporation will post -0.29 EPS for the current year.

Insider Activity at Rocket Lab

In related news, insider Marvin Bradford Clevenger sold 3,500 shares of Rocket Lab stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $146.67, for a total transaction of $513,345.00. Following the completion of the sale, the insider owned 473,975 shares of the company's stock, valued at approximately $69,517,913.25. The trade was a 0.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Alexander R. Slusky sold 40,000 shares of Rocket Lab stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $123.60, for a total transaction of $4,944,000.00. Following the sale, the director directly owned 334,675 shares of the company's stock, valued at $41,365,830. The trade was a 10.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 573,515 shares of company stock worth $76,412,122 in the last quarter. 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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