Csenge Advisory Group Makes New Investment in Rocket Lab Corporation $RKLB

Key Points

• Csenge Advisory Group opened a new position in Rocket Lab during the fourth quarter, buying 4,437 shares valued at about $310,000.
• Institutional interest in the stock remains strong, with several other hedge funds also adding shares and 71.78% of Rocket Lab owned by institutional investors and hedge funds.
• Rocket Lab has also seen notable insider selling, including recent sales by SVP Arjun Kampani and Director Alexander R. Slusky, while analysts currently rate the stock a Moderate Buy with a consensus price target of $97.19.

Csenge Advisory Group bought a new position in shares of Rocket Lab Corporation (NASDAQ:RKLB - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,437 shares of the rocket manufacturer's stock, valued at approximately $310,000.

Several other hedge funds have also recently bought and sold shares of the business. Envestnet Portfolio Solutions Inc. acquired a new position in Rocket Lab during the fourth quarter worth $339,000. North Dakota State Investment Board acquired a new position in Rocket Lab during the fourth quarter worth $1,016,000. Abacus Wealth Partners LLC acquired a new position in Rocket Lab during the fourth quarter worth $298,000. AlphaCore Capital LLC increased its position in Rocket Lab by 33.1% during the fourth quarter. AlphaCore Capital LLC now owns 9,077 shares of the rocket manufacturer's stock worth $633,000 after buying an additional 2,255 shares during the last quarter. Finally, New York Life Investment Management LLC acquired a new position in Rocket Lab during the fourth quarter worth $200,000. 71.78% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Rocket Lab

In related news, SVP Arjun Kampani sold 23,711 shares of Rocket Lab stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $71.95, for a total transaction of $1,706,006.45. Following the sale, the senior vice president directly owned 397,988 shares of the company's stock, valued at $28,635,236.60. This trade represents a 5.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alexander R. Slusky sold 100,000 shares of Rocket Lab stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $118.08, for a total value of $11,808,000.00. Following the sale, the director directly owned 434,675 shares in the company, valued at approximately $51,326,424. This trade represents a 18.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 333,449 shares of company stock valued at $28,295,233 over the last quarter. Company insiders own 8.40% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on RKLB. Weiss Ratings reissued a "sell (d-)" rating on shares of Rocket Lab in a research report on Tuesday, April 21st. Wall Street Zen raised Rocket Lab from a "sell" rating to a "hold" rating in a research report on Sunday, February 8th. BTIG Research reaffirmed a "hold" rating on shares of Rocket Lab in a research report on Tuesday, May 12th. Craig Hallum raised Rocket Lab from a "hold" rating to a "buy" rating and set a $98.00 price target on the stock in a research report on Friday, May 8th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $85.00 price target on shares of Rocket Lab in a research report on Friday, March 13th. Three research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $97.19.

Key Rocket Lab News

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

• Positive Sentiment: Rocket Lab won a $90 million Space Force contract, which expands its satellite business into geostationary orbit and adds a meaningful new source of revenue. Article Title
• Positive Sentiment: The company completed its 9th Electron launch for Synspective, underscoring strong execution and a durable commercial launch partnership. Article Title
• Neutral Sentiment: Broader space-stock momentum and renewed interest ahead of SpaceX’s IPO are also lifting sentiment across the sector, including RKLB. Article Title
• Negative Sentiment: Some investors remain wary after Rocket Lab’s recent announcement of a potential $3 billion share-sale program, which raised dilution concerns earlier in the week. Article Title

Rocket Lab Trading Up 8.2%

Shares of NASDAQ:RKLB opened at $135.76 on Friday. The company has a market cap of $78.57 billion, a P/E ratio of -424.25 and a beta of 2.30. The stock's 50-day moving average is $84.84 and its 200-day moving average is $73.16. Rocket Lab Corporation has a 52-week low of $24.67 and a 52-week high of $139.76. 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 issued its quarterly earnings results on Thursday, May 7th. The rocket manufacturer reported ($0.07) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.07). The company had revenue of $200.35 million for the quarter, compared to the consensus estimate 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 revenue was up 63.4% compared to the same quarter last year. During the same period last year, the business posted ($0.12) earnings per share. Equities research analysts predict that Rocket Lab Corporation will post -0.29 earnings per share for the current year.

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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