Clear Street Group Inc. Purchases 447,240 Shares of Rocket Lab Corporation $RKLB

Key Points

• Clear Street Group increased its Rocket Lab position by 71.9% in Q4, adding 447,240 shares to hold 1,069,240 shares worth about $74.6 million.
• Institutional ownership remains high, with institutions holding 71.78% of Rocket Lab shares, while several smaller funds also opened new positions in the stock.
• Rocket Lab has been helped by positive catalysts, including its upcoming addition to the Nasdaq-100 on June 22 and strong Q1 revenue growth of 63.4% year over year to $200.35 million, even as insider selling has continued.

Clear Street Group Inc. grew its holdings in shares of Rocket Lab Corporation (NASDAQ:RKLB - Free Report) by 71.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,069,240 shares of the rocket manufacturer's stock after purchasing an additional 447,240 shares during the quarter. Rocket Lab makes up approximately 0.3% of Clear Street Group Inc.'s holdings, making the stock its 23rd biggest position. Clear Street Group Inc. owned about 0.20% of Rocket Lab worth $74,590,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. Aventura Private Wealth LLC bought a new stake in Rocket Lab during the fourth quarter valued at approximately $25,000. Zions Bancorporation National Association UT bought a new position in Rocket Lab in the fourth quarter worth approximately $28,000. Gordian Capital Singapore Pte Ltd bought a new position in Rocket Lab in the fourth quarter worth approximately $29,000. Ankerstar Wealth LLC purchased a new position in shares of Rocket Lab during the 4th quarter worth $31,000. Finally, V Square Quantitative Management LLC bought a new stake in shares of Rocket Lab during the 4th quarter valued at $32,000. Institutional investors own 71.78% of the company's stock.

Insiders Place Their Bets

In related news, CFO Adam C. Spice sold 62,744 shares of Rocket Lab stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $142.57, for a total transaction of $8,945,412.08. Following the sale, the chief financial officer owned 983,049 shares of the company's stock, valued at approximately $140,153,295.93. This trade represents a 6.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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, insider Frank Klein sold 44,390 shares of the business's stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $142.57, for a total value of $6,328,682.30. Following the completion of the transaction, the insider directly owned 1,043,847 shares in the company, valued at approximately $148,821,266.79. This represents a 4.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Over the last ninety days, insiders sold 485,515 shares of company stock valued at $66,909,882. Insiders own 8.40% of the company's stock.

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 Down 10.8%

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

Rocket Lab (NASDAQ:RKLB - Get Free Report) last issued its earnings results on Thursday, May 7th. The rocket manufacturer reported ($0.07) earnings per share for the quarter, hitting 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 during the quarter, compared to the consensus estimate of $189.65 million. During the same quarter in the prior year, the firm posted ($0.12) EPS. Rocket Lab's quarterly revenue was up 63.4% compared to the same quarter last year. Sell-side analysts expect that Rocket Lab Corporation will post -0.29 EPS for the current fiscal year.

Analysts Set New Price Targets

RKLB has been the subject of several analyst reports. Clear Str upgraded Rocket Lab to a "strong-buy" rating in a research note on Wednesday, March 18th. Craig Hallum upgraded Rocket Lab from a "hold" rating to a "buy" rating and set a $98.00 target price on the stock in a research report on Friday, May 8th. Citigroup reissued an "outperform" rating on shares of Rocket Lab in a report on Friday, May 8th. TD Cowen upped their price target on Rocket Lab from $90.00 to $120.00 and gave the stock a "buy" rating in a research report on Friday, May 8th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Rocket Lab from $73.00 to $120.00 and gave the stock a "buy" rating in a research note on Tuesday, May 12th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $99.24.

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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