Comerica Bank Has $6.62 Million Stake in Rocket Lab Corporation $RKLB

Key Points

• Comerica Bank increased its stake in Rocket Lab Corporation by 2.5% during the first quarter, now owning 370,222 shares valued at approximately $6.62 million.
• Several analysts have recently upgraded their price targets for Rocket Lab, with KeyCorp setting a new target of $50.00 and Needham & Company LLC raising theirs to $55.00, reflecting positive sentiment towards the stock.
• Insider trading activity has been notable, with significant sales from insiders, including Director Matthew Ocko, who sold 820,000 shares for over $21 million, resulting in a considerable decrease in ownership percentages.

Comerica Bank increased its position in shares of Rocket Lab Corporation (NASDAQ:RKLB - Free Report) by 2.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 370,222 shares of the rocket manufacturer's stock after acquiring an additional 8,858 shares during the period. Comerica Bank owned about 0.08% of Rocket Lab worth $6,620,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Versant Capital Management Inc boosted its position in shares of Rocket Lab by 118.1% during the 1st quarter. Versant Capital Management Inc now owns 1,588 shares of the rocket manufacturer's stock worth $28,000 after acquiring an additional 860 shares in the last quarter. MassMutual Private Wealth & Trust FSB acquired a new stake in shares of Rocket Lab during the 1st quarter worth approximately $29,000. Farther Finance Advisors LLC boosted its position in shares of Rocket Lab by 181.1% during the 1st quarter. Farther Finance Advisors LLC now owns 1,903 shares of the rocket manufacturer's stock worth $35,000 after acquiring an additional 1,226 shares in the last quarter. Spectrum Wealth Counsel LLC boosted its position in shares of Rocket Lab by 100.0% during the 1st quarter. Spectrum Wealth Counsel LLC now owns 2,000 shares of the rocket manufacturer's stock worth $36,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Quarry LP acquired a new stake in shares of Rocket Lab during the 4th quarter worth approximately $48,000. Institutional investors and hedge funds own 71.78% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. KeyCorp increased their price target on shares of Rocket Lab from $40.00 to $50.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. Needham & Company LLC restated a "buy" rating and issued a $55.00 target price (up previously from $45.00) on shares of Rocket Lab in a research report on Friday, August 8th. Bank of America raised their target price on shares of Rocket Lab from $30.00 to $50.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Stifel Nicolaus raised their target price on shares of Rocket Lab from $34.00 to $55.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. Finally, Craig Hallum assumed coverage on shares of Rocket Lab in a research report on Monday, July 28th. They issued a "hold" rating and a $51.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Rocket Lab has a consensus rating of "Moderate Buy" and a consensus target price of $42.27.

Rocket Lab Trading Up 1.4%

Shares of NASDAQ:RKLB traded up $0.69 during mid-day trading on Friday, reaching $48.60. 15,851,315 shares of the company's stock were exchanged, compared to its average volume of 20,593,792. The firm has a market capitalization of $23.30 billion, a price-to-earnings ratio of -108.00 and a beta of 2.17. The business's fifty day moving average price is $42.73 and its 200-day moving average price is $29.47. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.33 and a current ratio of 2.67. Rocket Lab Corporation has a twelve month low of $5.74 and a twelve month high of $53.44.

Rocket Lab (NASDAQ:RKLB - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The rocket manufacturer reported ($0.13) EPS for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.06). The business had revenue of $144.50 million for the quarter, compared to analyst estimates of $135.42 million. Rocket Lab had a negative return on equity of 48.14% and a negative net margin of 45.87%.Rocket Lab's revenue for the quarter was up 35.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.08) EPS. Rocket Lab has set its Q3 2025 guidance at EPS. On average, research analysts predict that Rocket Lab Corporation will post -0.38 EPS for the current fiscal year.

Insider Buying and Selling at Rocket Lab

In related news, Director Merline Saintil sold 6,353 shares of the business's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $33.38, for a total value of $212,063.14. Following the transaction, the director owned 419,569 shares in the company, valued at $14,005,213.22. The trade was a 1.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Arjun Kampani sold 5,194 shares of the business's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $26.52, for a total transaction of $137,744.88. Following the completion of the transaction, the insider owned 535,424 shares in the company, valued at approximately $14,199,444.48. The trade was a 0.96% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,049,276 shares of company stock worth $27,481,440 in the last three months. 11.90% of the stock is currently 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.