ABN Amro Investment Solutions Invests $1.52 Million in Rocket Lab Corporation $RKLB

Key Points

• ABN Amro Investment Solutions bought a new stake in Rocket Lab during the fourth quarter, purchasing 21,830 shares valued at about $1.52 million.
• Rocket Lab reported quarterly earnings that met expectations, with EPS of -$0.07 and revenue of $200.35 million, which was above analyst estimates and up 63.4% year over year.
• Analyst sentiment remains constructive overall, with several firms raising price targets and MarketBeat citing a Moderate Buy consensus target of $97.19, even as some investors worry about dilution from a proposed $3 billion share-sale program.

ABN Amro Investment Solutions purchased a new stake in shares of Rocket Lab Corporation (NASDAQ:RKLB - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 21,830 shares of the rocket manufacturer's stock, valued at approximately $1,523,000.

A number of other hedge funds have also bought and sold shares of RKLB. Sara Bay Financial boosted 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 during the last quarter. ORG Partners LLC boosted its holdings in shares of Rocket Lab by 9.1% in 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 during the last quarter. Traynor Capital Management Inc. boosted its holdings in shares of Rocket Lab by 1.9% in the 4th quarter. Traynor Capital Management Inc. now owns 7,191 shares of the rocket manufacturer's stock valued at $502,000 after acquiring an additional 133 shares during the last quarter. Capital Advisors Wealth Management LLC boosted its holdings in shares of Rocket Lab by 1.0% in the 4th quarter. Capital Advisors Wealth Management LLC now owns 13,466 shares of the rocket manufacturer's stock valued at $939,000 after acquiring an additional 136 shares during the last quarter. Finally, Quadcap Wealth Management LLC boosted its holdings in shares of Rocket Lab by 2.3% in the 4th quarter. Quadcap Wealth Management LLC now owns 6,246 shares of the rocket manufacturer's stock valued at $436,000 after acquiring an additional 140 shares during the last quarter. Institutional investors and hedge funds own 71.78% of the company's stock.

Rocket Lab Price Performance

NASDAQ:RKLB opened at $135.76 on Friday. The firm has a market cap of $78.57 billion, a P/E ratio of -424.25 and a beta of 2.30. The stock has a 50 day moving average of $84.84 and a two-hundred day moving average of $73.16. Rocket Lab Corporation has a 12 month low of $24.67 and a 12 month high of $139.76. The company has a current ratio of 4.47, a quick ratio of 4.02 and a debt-to-equity ratio of 0.02.

Rocket Lab (NASDAQ:RKLB - Get Free Report) last released its 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). 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 return on equity of 11.72% and a negative net margin of 26.87%.The business's quarterly revenue was up 63.4% compared to the same quarter last year. During the same quarter last year, the business posted ($0.12) earnings per share. On average, analysts expect that Rocket Lab Corporation will post -0.29 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: Rocket Lab won a $90 million Space Force contract, which expands its satellite business into geostationary orbit and adds a meaningful new source of revenue. Article Title
• Positive Sentiment: The company completed its 9th Electron launch for Synspective, underscoring strong execution and a durable commercial launch partnership. Article Title
• Neutral Sentiment: Broader space-stock momentum and renewed interest ahead of SpaceX’s IPO are also lifting sentiment across the sector, including RKLB. Article Title
• Negative Sentiment: Some investors remain wary after Rocket Lab’s recent announcement of a potential $3 billion share-sale program, which raised dilution concerns earlier in the week. Article Title

Insider Transactions at Rocket Lab

In other news, insider Frank Klein sold 44,482 shares of the firm's stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $69.59, for a total value of $3,095,502.38. Following the transaction, the insider directly owned 1,125,005 shares of the company's stock, valued at approximately $78,289,097.95. This trade represents a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Adam C. Spice sold 62,744 shares of the firm's stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $69.59, for a total transaction of $4,366,354.96. Following the completion of the transaction, the chief financial officer directly owned 1,296,824 shares in the company, valued at approximately $90,245,982.16. This represents a 4.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 333,449 shares of company stock valued at $28,295,233. Company insiders own 8.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on RKLB shares. Roth Mkm increased their price target on shares of Rocket Lab from $90.00 to $100.00 and gave the stock a "buy" rating in a report on Friday, April 17th. Citizens Jmp increased their price target on shares of Rocket Lab from $85.00 to $95.00 and gave the stock a "market outperform" rating in a report on Friday, May 8th. New Street Research started coverage on shares of Rocket Lab in a report on Wednesday, May 13th. They set a "buy" rating and a $150.00 price target on the stock. Zacks Research downgraded shares of Rocket Lab from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 10th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $85.00 price target on shares of Rocket Lab in a report on Friday, March 13th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Rocket Lab presently has an average rating of "Moderate Buy" and a consensus target price of $97.19.

Rocket Lab 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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