Rocket Lab Corporation (NASDAQ:RKLB) Shares Purchased by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. boosted its position in shares of Rocket Lab Corporation (NASDAQ:RKLB - Free Report) by 52.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 58,652 shares of the rocket manufacturer's stock after purchasing an additional 20,076 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in Rocket Lab were worth $1,049,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Roman Butler Fullerton & Co. increased its holdings in Rocket Lab by 161.1% during the 1st quarter. Roman Butler Fullerton & Co. now owns 19,580 shares of the rocket manufacturer's stock worth $350,000 after purchasing an additional 12,080 shares during the period. FNY Investment Advisers LLC boosted its position in Rocket Lab by 356.4% during the 1st quarter. FNY Investment Advisers LLC now owns 5,249 shares of the rocket manufacturer's stock valued at $93,000 after acquiring an additional 4,099 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in Rocket Lab by 6.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 42,022 shares of the rocket manufacturer's stock valued at $751,000 after acquiring an additional 2,715 shares in the last quarter. Handelsbanken Fonder AB boosted its position in Rocket Lab by 5.3% during the 1st quarter. Handelsbanken Fonder AB now owns 85,100 shares of the rocket manufacturer's stock valued at $1,522,000 after acquiring an additional 4,300 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in Rocket Lab by 2,186.7% during the 1st quarter. SG Americas Securities LLC now owns 353,522 shares of the rocket manufacturer's stock valued at $6,321,000 after acquiring an additional 338,062 shares in the last quarter. 71.78% of the stock is currently owned by hedge funds and other institutional investors.

Rocket Lab Price Performance

Shares of RKLB stock traded down $0.08 during trading hours on Friday, reaching $35.60. The company had a trading volume of 7,975,973 shares, compared to its average volume of 18,097,146. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.72 and a current ratio of 2.08. The stock has a fifty day moving average of $27.27 and a 200-day moving average of $24.63. The company has a market capitalization of $16.15 billion, a price-to-earnings ratio of -89.00 and a beta of 2.15. Rocket Lab Corporation has a 12-month low of $4.20 and a 12-month high of $38.26.

Rocket Lab (NASDAQ:RKLB - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The rocket manufacturer reported ($0.12) EPS for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.02). The firm had revenue of $122.57 million for the quarter, compared to analyst estimates of $120.74 million. Rocket Lab had a negative return on equity of 48.92% and a negative net margin of 44.32%. The firm's revenue for the quarter was up 32.1% on a year-over-year basis. During the same quarter last year, the company earned ($0.09) earnings per share. On average, equities analysts anticipate that Rocket Lab Corporation will post -0.38 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Stifel Nicolaus raised their price objective on Rocket Lab from $29.00 to $34.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. KeyCorp raised their price objective on Rocket Lab from $29.00 to $40.00 and gave the stock an "overweight" rating in a research report on Wednesday. Morgan Stanley raised their price objective on Rocket Lab from $18.00 to $20.00 and gave the stock an "equal weight" rating in a research report on Monday, March 10th. The Goldman Sachs Group assumed coverage on Rocket Lab in a research report on Monday, June 30th. They set a "neutral" rating and a $27.00 price target for the company. Finally, Needham & Company LLC lifted their price target on Rocket Lab from $28.00 to $32.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $30.40.

Insider Transactions at Rocket Lab

In related news, Director Matthew Ocko sold 820,000 shares of the firm's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $26.01, for a total transaction of $21,328,200.00. Following the transaction, the director owned 1,083,053 shares of the company's stock, valued at $28,170,208.53. This trade represents a 43.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Arjun Kampani sold 28,988 shares of the firm's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $26.66, for a total value of $772,820.08. Following the transaction, the insider directly owned 540,618 shares in the company, valued at approximately $14,412,875.88. This represents a 5.09% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,130,995 shares of company stock worth $29,686,039. 13.70% of the stock is owned by company insiders.

Rocket Lab Company Profile

Rocket Lab USA, Inc, a space company, provides launch services and space systems solutions for the space and defense industries. The company provides launch services, spacecraft design services, spacecraft components, spacecraft manufacturing, and other spacecraft and on-orbit management solutions; and constellation management services, as well as designs and manufactures small and medium-class rockets.