81,269 Shares in Rocket Lab Corporation $RKLB Acquired by OP Asset Management Ltd

Key Points

• OP Asset Management bought 81,269 shares of Rocket Lab in the first quarter, a position valued at about $5.2 million.
• Institutional ownership remains heavy, with hedge funds and other investors holding 71.78% of Rocket Lab’s shares. Several firms recently increased their stakes, including Vanguard and Westfield Capital.
• Analysts are broadly constructive on the stock, with a consensus rating of Moderate Buy and an average price target of $102.76. Recent earnings also showed revenue growth of 63.4% year over year, even though the company is still unprofitable.

OP Asset Management Ltd purchased a new position in Rocket Lab Corporation (NASDAQ:RKLB - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 81,269 shares of the rocket manufacturer's stock, valued at approximately $5,219,000.

A number of other hedge funds also recently made changes to their positions in RKLB. Swedbank AB grew its stake in shares of Rocket Lab by 8.2% during the fourth quarter. Swedbank AB now owns 509,250 shares of the rocket manufacturer's stock valued at $35,525,000 after acquiring an additional 38,770 shares in the last quarter. Firsthand Capital Management Inc. lifted its stake in shares of Rocket Lab by 40.0% in the third 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 in the last quarter. Swiss National Bank lifted its stake in shares of Rocket Lab by 67.7% in the third quarter. Swiss National Bank now owns 1,243,630 shares of the rocket manufacturer's stock worth $59,582,000 after acquiring an additional 501,830 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Rocket Lab by 13.4% in the fourth quarter. Vanguard Group Inc. now owns 47,420,192 shares of the rocket manufacturer's stock valued at $3,308,033,000 after purchasing an additional 5,610,469 shares during the last quarter. Finally, Westfield Capital Management Co. LP boosted its holdings in Rocket Lab by 6.3% in the fourth quarter. Westfield Capital Management Co. LP now owns 2,592,443 shares of the rocket manufacturer's stock valued at $180,849,000 after purchasing an additional 154,623 shares during the last quarter. Hedge funds and other institutional investors own 71.78% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on RKLB shares. Cantor Fitzgerald restated an "overweight" rating on shares of Rocket Lab in a report on Wednesday, May 27th. Citizens Jmp raised their price target on shares of Rocket Lab from $85.00 to $95.00 and gave the stock a "market outperform" rating in a research report on Friday, May 8th. Craig Hallum upgraded shares of Rocket Lab from a "hold" rating to a "buy" rating and set a $98.00 price target for the company in a research note on Friday, May 8th. Stifel Nicolaus set a $132.00 price target on shares of Rocket Lab in a report on Thursday, June 4th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Rocket Lab from $73.00 to $120.00 and gave the company a "buy" rating in a research note on Tuesday, May 12th. Three research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $102.76.

Insider Buying and Selling at Rocket Lab

In other news, CFO Adam C. Spice sold 62,744 shares of Rocket Lab stock in a transaction dated 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 transaction, the chief financial officer directly owned 983,049 shares of the company's stock, valued at approximately $140,153,295.93. The trade was a 6.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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. Also, insider Frank Klein sold 44,390 shares of the business's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $142.57, for a total transaction of $6,328,682.30. Following the sale, the insider directly owned 1,043,847 shares of the company's stock, valued at approximately $148,821,266.79. This represents a 4.08% 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. In the last quarter, insiders have sold 573,515 shares of company stock valued at $76,412,122. Corporate insiders own 8.40% of the company's stock.

Rocket Lab Price Performance

Shares of NASDAQ RKLB opened at $84.54 on Friday. Rocket Lab Corporation has a twelve month low of $33.73 and a twelve month high of $151.00. 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 company has a market capitalization of $48.93 billion, a price-to-earnings ratio of -264.19 and a beta of 2.49. The business has a 50 day simple moving average of $107.48 and a 200-day simple moving average of $84.85.

Rocket Lab (NASDAQ:RKLB - Get 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, hitting the consensus estimate of ($0.07). The firm had revenue of $200.35 million for 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%.The firm's revenue for the quarter was up 63.4% on a year-over-year basis. During the same period last year, the business posted ($0.12) earnings per share. As a group, equities research analysts expect that Rocket Lab Corporation will post -0.29 earnings per share for the current year.

More Rocket Lab News

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

• Positive Sentiment: NASA chose Rocket Lab for three dedicated Electron launches supporting the PolSIR and TSIS-2 missions, a meaningful endorsement of Electron’s reliability and the company’s position in government launch services. NASA Selects Rocket Lab to Launch Sun, Earth Sciences Missions
• Positive Sentiment: Rocket Lab completed its 10th consecutive successful Electron launch for Synspective, extending its streak of 100% mission success and reinforcing operational momentum. Rocket Lab Completes 10th Consecutive Launch with 100% Mission Success for Synspective
• Positive Sentiment: The company’s expanding backlog, rising government work, and record Q1 revenue growth continue to support the long-term investment case. Rocket Lab's NASA Win Tests Key Support After Sharp Pullback
• Neutral Sentiment: Analysts remain generally constructive, but some note the stock still looks expensive after a strong run and recent volatility. Rocket Lab Just Shattered This Space Force Record: Does That Make The Stock a Buy?
• Negative Sentiment: The stock had been under pressure before the latest news, with traders watching whether the recent rally can hold after a sharp pullback from its highs. Rocket Lab's NASA Win Tests Key Support After Sharp Pullback

About Rocket Lab

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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