Anchor Capital Advisors LLC Purchases Shares of 13,975 Rocket Lab Corporation $RKLB

Anchor Capital Advisors LLC acquired a new position in shares of Rocket Lab Corporation (NASDAQ:RKLB - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 13,975 shares of the rocket manufacturer's stock, valued at approximately $1,421,000.

Other institutional investors also recently modified their holdings of the company. Highland Investment Advisors LLC purchased a new position in Rocket Lab in the 2nd quarter worth approximately $30,000. Meeder Asset Management Inc. purchased a new stake in Rocket Lab in the second quarter worth approximately $30,000. NBH Bank purchased a new stake in Rocket Lab in the second quarter worth approximately $30,000. Mcguire Capital Advisors Inc. bought a new position in Rocket Lab during the fourth quarter valued at approximately $27,000. Finally, Keating Financial Advisory Services Inc. bought a new position in Rocket Lab during the second quarter valued at approximately $39,000. 71.78% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Rocket Lab

In other news, insider Marvin Clevenger sold 15,051 shares of the business's stock in a transaction on Monday, August 24th. The shares were sold at an average price of $69.63, for a total transaction of $1,048,001.13. Following the sale, the insider owned 458,924 shares in the company, valued at approximately $31,954,878.12. The trade was a 3.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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, CFO Adam Spice sold 140,157 shares of the company's stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $62.63, for a total transaction of $8,778,032.91. Following the completion of the sale, the chief financial officer directly owned 1,155,967 shares in the company, valued at $72,398,213.21. This represents a 10.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 3,624,371 shares of company stock valued at $312,944,881. Company insiders own 8.40% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on RKLB shares. New Street Research began coverage on shares of Rocket Lab in a report on Wednesday, May 13th. They set a "buy" rating and a $150.00 target price on the stock. Craig Hallum boosted their price target on shares of Rocket Lab from $98.00 to $120.00 and gave the stock a "buy" rating in a research note on Monday, June 29th. Needham & Company LLC restated a "buy" rating on shares of Rocket Lab in a research report on Tuesday, August 11th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Rocket Lab in a report on Friday, July 17th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Rocket Lab from $73.00 to $120.00 and gave the company a "buy" rating in a report on Tuesday, May 12th. Four investment analysts have rated the stock with a Strong Buy rating, thirteen 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 has an average rating of "Moderate Buy" and an average price target of $108.83.

Rocket Lab Price Performance

Shares of Rocket Lab stock opened at $64.26 on Tuesday. The company has a market cap of $38.45 billion, a PE ratio of -237.99 and a beta of 2.60. The business has a 50 day moving average of $74.56 and a 200 day moving average of $84.82. Rocket Lab Corporation has a 52 week low of $37.57 and a 52 week high of $151.00. The company has a quick ratio of 4.98, a current ratio of 5.48 and a debt-to-equity ratio of 0.01.

Rocket Lab (NASDAQ:RKLB - Get Free Report) last issued its quarterly earnings data on Monday, August 10th. The rocket manufacturer reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.02). The company had revenue of $234.07 million during the quarter, compared to the consensus estimate of $231.62 million. Rocket Lab had a negative return on equity of 6.48% and a negative net margin of 21.51%. As a group, equities research analysts forecast that Rocket Lab Corporation will post -0.2 earnings per share for the current year.

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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