Blue Jean Financial LLC Makes New $3.07 Million Investment in Rocket Lab Corporation $RKLB

Key Points

• Blue Jean Financial LLC opened a new position in Rocket Lab, buying 43,930 shares worth about $3.07 million. The stake represents 2.5% of its portfolio and is now its sixth-largest holding.
• Rocket Lab is seeing strong institutional interest overall, with hedge funds and other investors owning 71.78% of the stock. Major holders like Vanguard, Baillie Gifford, and Capital World Investors all increased their positions in the latest quarter.
• The stock is getting a boost from recent catalysts, including its planned Nasdaq-100 inclusion on June 22 and Q1 revenue growth of 63.4% year over year to $200.35 million. However, the shares may remain volatile as they trade alongside broader space-stock momentum.

Blue Jean Financial LLC acquired a new position in Rocket Lab Corporation (NASDAQ:RKLB - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 43,930 shares of the rocket manufacturer's stock, valued at approximately $3,065,000. Rocket Lab makes up 2.5% of Blue Jean Financial LLC's investment portfolio, making the stock its 6th biggest position.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Rocket Lab by 13.4% in the 4th quarter. Vanguard Group Inc. now owns 47,420,192 shares of the rocket manufacturer's stock worth $3,308,033,000 after buying an additional 5,610,469 shares during the period. Baillie Gifford & Co. grew its position in shares of Rocket Lab by 47.2% in the 4th quarter. Baillie Gifford & Co. now owns 17,851,446 shares of the rocket manufacturer's stock worth $1,245,317,000 after buying an additional 5,725,536 shares during the period. Capital World Investors grew its position in shares of Rocket Lab by 12.0% in the 4th quarter. Capital World Investors now owns 16,200,726 shares of the rocket manufacturer's stock worth $1,130,172,000 after buying an additional 1,738,623 shares during the period. State Street Corp grew its position in shares of Rocket Lab by 1.0% in the 4th quarter. State Street Corp now owns 12,520,223 shares of the rocket manufacturer's stock worth $873,411,000 after buying an additional 120,652 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Rocket Lab by 10.1% in the 4th quarter. Geode Capital Management LLC now owns 9,004,724 shares of the rocket manufacturer's stock worth $626,605,000 after buying an additional 825,158 shares during the period. 71.78% of the stock is owned by hedge funds and other institutional investors.

Key Rocket Lab News

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

• Positive Sentiment: Rocket Lab announced that it will join the Nasdaq-100 Index, effective June 22. That inclusion is a bullish technical and sentiment driver because it can increase visibility, attract index-tracking funds, and broaden institutional demand. Rocket Lab To Join The Nasdaq-100 Index
• Positive Sentiment: Several reports note that RKLB is benefiting from a “halo trade” in space stocks tied to SpaceX’s historic public debut, with traders rotating into space-related names as the industry gets more attention. Why Rocket Lab (RKLB) Stock Is Up Today
• Positive Sentiment: Rocket Lab’s recent business momentum also supports the stock, with Q1 revenue up 63.4% year over year to $200.35 million and results beating revenue estimates, reinforcing the growth story behind the company. Rocket Lab To Join The Nasdaq-100 Index
• Neutral Sentiment: Commentary from analysts and media has turned more upbeat on the stock, but much of the move appears to be driven by index inclusion and sector momentum rather than a new operating update. Space Stock Rocket Lab and 4 Others Are Joining the Nasdaq 100
• Negative Sentiment: Near-term volatility could stay elevated because the stock has also been caught in broader space-stock swings around SpaceX’s debut, and some traders are treating the group as a relative-value trade rather than a pure Rocket Lab fundamental story. Virgin Galactic Craters 24%, Rocket Lab Drops 8%, AST SpaceMobile Falls 10% as SpaceX Hype Triggers a Space-Stock Shakeout

Rocket Lab Stock Performance

Shares of RKLB stock opened at $102.39 on Friday. Rocket Lab Corporation has a one year low of $25.24 and a one year high of $151.00. The company's 50-day moving average is $101.62 and its 200 day moving average is $81.03. The company has a market capitalization of $59.26 billion, a price-to-earnings ratio of -319.97 and a beta of 2.49. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.02 and a current ratio of 4.47.

Rocket Lab (NASDAQ:RKLB - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The rocket manufacturer reported ($0.07) EPS for the quarter, meeting the consensus estimate of ($0.07). Rocket Lab had a negative net margin of 26.87% and a negative return on equity of 11.72%. The company had revenue of $200.35 million for the quarter, compared to the consensus estimate of $189.65 million. During the same period in the prior year, the firm posted ($0.12) EPS. Rocket Lab's revenue for the quarter was up 63.4% on a year-over-year basis. Sell-side analysts expect that Rocket Lab Corporation will post -0.29 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on RKLB shares. Citigroup reaffirmed an "outperform" rating on shares of Rocket Lab in a research report on Friday, May 8th. Needham & Company LLC upped their target price on shares of Rocket Lab from $95.00 to $120.00 and gave the stock a "buy" rating in a research report on Monday, May 11th. KGI Securities started coverage on shares of Rocket Lab in a research report on Thursday. They issued a "neutral" rating and a $105.00 target price on the stock. Stifel Nicolaus set a $132.00 target price on shares of Rocket Lab in a research report on Thursday, June 4th. Finally, Roth Mkm upped their target price on shares of Rocket Lab from $90.00 to $100.00 and gave the stock a "buy" rating in a research report on Friday, April 17th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $99.24.

Insider Activity at Rocket Lab

In related news, insider Marvin Bradford Clevenger sold 3,500 shares of the 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 sale, the insider directly owned 473,975 shares of the company's stock, valued at approximately $69,517,913.25. This represents a 0.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Alexander R. Slusky sold 40,000 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were 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 in the company, valued at $41,365,830. This trade represents a 10.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 485,515 shares of company stock worth $66,909,882 in the last ninety days. 8.40% of the stock is currently owned by company 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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