Deutsche Bank AG Has $12.73 Million Position in Rocket Lab Corporation (NASDAQ:RKLB)

Deutsche Bank AG grew its stake in shares of Rocket Lab Corporation (NASDAQ:RKLB - Free Report) by 132.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 711,861 shares of the rocket manufacturer's stock after purchasing an additional 405,378 shares during the period. Deutsche Bank AG owned about 0.16% of Rocket Lab worth $12,728,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Versant Capital Management Inc increased its position in Rocket Lab by 118.1% in the 1st quarter. Versant Capital Management Inc now owns 1,588 shares of the rocket manufacturer's stock worth $28,000 after purchasing an additional 860 shares during the last quarter. MassMutual Private Wealth & Trust FSB acquired a new stake in Rocket Lab in the 1st quarter valued at approximately $29,000. Farther Finance Advisors LLC grew its holdings in Rocket Lab by 181.1% in the 1st quarter. Farther Finance Advisors LLC now owns 1,903 shares of the rocket manufacturer's stock valued at $35,000 after buying an additional 1,226 shares during the last quarter. Spectrum Wealth Counsel LLC lifted its position in shares of Rocket Lab by 100.0% in 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 during the period. Finally, Quarry LP bought a new stake in shares of Rocket Lab in the 4th quarter worth approximately $48,000. 71.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on RKLB shares. Craig Hallum initiated coverage on Rocket Lab in a research report on Monday, July 28th. They set a "hold" rating and a $51.00 target price for the company. 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 target price for the company. Bank of America boosted their target price on Rocket Lab from $30.00 to $50.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Cantor Fitzgerald boosted their target price on Rocket Lab from $35.00 to $54.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. Finally, Roth Capital boosted their target price on Rocket Lab from $25.00 to $35.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $42.27.

Insider Buying and Selling

In other news, insider Frank Klein sold 2,546 shares of the company's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $30.00, for a total value of $76,380.00. Following the transaction, the insider owned 1,365,826 shares of the company's stock, valued at approximately $40,974,780. This represents a 0.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Merline Saintil sold 6,353 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the director directly owned 419,569 shares in the company, valued at $14,005,213.22. The trade was a 1.49% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,130,995 shares of company stock worth $29,686,039. Insiders own 11.90% of the company's stock.

Rocket Lab Trading Up 3.4%

NASDAQ:RKLB traded up $1.46 on Friday, reaching $44.27. The company's stock had a trading volume of 14,148,021 shares, compared to its average volume of 19,205,190. Rocket Lab Corporation has a 1-year low of $5.74 and a 1-year high of $53.44. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.72 and a current ratio of 2.67. The firm has a market cap of $20.43 billion, a PE ratio of -98.38 and a beta of 2.17. The business's 50-day moving average price is $39.21 and its two-hundred day moving average price is $28.32.

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 firm had revenue of $144.50 million during the quarter, compared to the consensus estimate of $135.42 million. Rocket Lab had a negative net margin of 45.87% and a negative return on equity of 48.14%. The business's revenue for the quarter was up 35.9% on a year-over-year basis. During the same quarter last year, the firm earned ($0.08) earnings per share. Equities research analysts anticipate that Rocket Lab Corporation will post -0.38 earnings per share for the current fiscal year.

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.