Capital Impact Advisors LLC Grows Stock Position in Rocket Lab Corporation $RKLB

Key Points

• Capital Impact Advisors increased its Rocket Lab stake by 47.5% in the fourth quarter, buying 145,741 additional shares and bringing its total position to 452,728 shares worth about $31.6 million.
• Several other institutional investors also added to their positions, and institutional ownership now stands at 71.78% of Rocket Lab’s stock.
• Rocket Lab recently posted stronger-than-expected revenue of $200.35 million and is set to join the Nasdaq-100 on June 22, a move that could drive more index-related demand.

Capital Impact Advisors LLC lifted its stake in Rocket Lab Corporation (NASDAQ:RKLB - Free Report) by 47.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 452,728 shares of the rocket manufacturer's stock after purchasing an additional 145,741 shares during the quarter. Rocket Lab comprises about 2.5% of Capital Impact Advisors LLC's holdings, making the stock its 23rd largest holding. Capital Impact Advisors LLC owned 0.08% of Rocket Lab worth $31,582,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Sara Bay Financial increased its holdings in shares of Rocket Lab by 0.7% in the fourth quarter. Sara Bay Financial now owns 15,905 shares of the rocket manufacturer's stock valued at $1,121,000 after purchasing an additional 117 shares during the last quarter. ORG Partners LLC increased its holdings in shares of Rocket Lab by 9.1% in the fourth quarter. ORG Partners LLC now owns 1,458 shares of the rocket manufacturer's stock valued at $102,000 after purchasing an additional 121 shares during the last quarter. Traynor Capital Management Inc. increased its holdings in shares of Rocket Lab by 1.9% in the fourth quarter. Traynor Capital Management Inc. now owns 7,191 shares of the rocket manufacturer's stock valued at $502,000 after purchasing an additional 133 shares during the last quarter. Capital Advisors Wealth Management LLC increased its holdings in shares of Rocket Lab by 1.0% in the fourth quarter. Capital Advisors Wealth Management LLC now owns 13,466 shares of the rocket manufacturer's stock valued at $939,000 after purchasing an additional 136 shares during the last quarter. Finally, Quadcap Wealth Management LLC increased its holdings in shares of Rocket Lab by 2.3% in the fourth quarter. Quadcap Wealth Management LLC now owns 6,246 shares of the rocket manufacturer's stock valued at $436,000 after purchasing an additional 140 shares during the last quarter. Institutional investors and hedge funds own 71.78% of the company's stock.

Insider Activity at Rocket Lab

In other Rocket Lab news, SVP Arjun Kampani sold 23,804 shares of the firm's stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $147.43, for a total transaction of $3,509,423.72. Following the completion of the sale, the senior vice president owned 352,705 shares of the company's stock, valued at $51,999,298.15. This trade represents a 6.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Marvin Bradford Clevenger sold 3,500 shares of the firm's stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $146.67, for a total value 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 trade represents a 0.73% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 485,515 shares of company stock valued at $66,909,882 over the last 90 days. Corporate insiders own 8.40% of the company's stock.

Rocket Lab Price Performance

RKLB stock opened at $107.98 on Thursday. The business has a fifty day moving average of $104.00 and a two-hundred day moving average of $82.68. The company has a quick ratio of 4.02, a current ratio of 4.47 and a debt-to-equity ratio of 0.02. The stock has a market cap of $62.49 billion, a price-to-earnings ratio of -337.44 and a beta of 2.49. Rocket Lab Corporation has a 52-week low of $26.23 and a 52-week high of $151.00.

Rocket Lab (NASDAQ:RKLB - Get Free Report) last posted its earnings results 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 company had revenue of $200.35 million during 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 quarterly revenue was up 63.4% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.12) earnings per share. As a group, research analysts anticipate that Rocket Lab Corporation will post -0.29 earnings per share for the current year.

Key Rocket Lab News

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

• Positive Sentiment: Rocket Lab will join the Nasdaq-100 on June 22, a milestone that should increase institutional demand and index-related buying. Rocket Lab (RKLB) to Join Nasdaq-100 Index on June 22
• Positive Sentiment: Wall Street sentiment has improved, with analyst upgrades and higher price targets adding momentum ahead of the index inclusion. Why Rocket Lab (RKLB) Stock Is Up Today
• Positive Sentiment: Several recent articles argue Rocket Lab remains one of the stronger public space stocks, citing backlog growth, defense demand, and vertical integration as long-term positives for the business. Planet Labs vs. Rocket Lab: Which Space Stock Has an Edge?
• Neutral Sentiment: Some commentary suggests the stock is still expensive after a big run and may be vulnerable to valuation-based pullbacks if momentum slows. Jim Cramer on Rocket Lab: “While the Stock’s Cheaper Than SpaceX, It’s Still Pretty Darn Expensive”
• Negative Sentiment: Short-term traders have also noted that Rocket Lab has cooled from recent highs, with some pieces framing the move as a reversal after a strong rally. RKLB stock suffers a brutal reversal as a bullish pattern begins to take shape

Wall Street Analysts Forecast Growth

Several research firms recently commented on RKLB. TD Cowen increased their price target on Rocket Lab from $90.00 to $120.00 and gave the company a "buy" rating in a report on Friday, May 8th. Needham & Company LLC increased their price target on Rocket Lab from $95.00 to $120.00 and gave the company a "buy" rating in a report on Monday, May 11th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Rocket Lab in a report on Tuesday, April 21st. Roth Mkm increased their price target on Rocket Lab from $90.00 to $100.00 and gave the company a "buy" rating in a report on Friday, April 17th. Finally, KGI Securities began coverage on Rocket Lab in a report on Thursday, June 11th. They issued a "neutral" rating and a $105.00 price target for the company. Three investment 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 company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $102.76.

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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