Evoke Wealth LLC Purchases Shares of 5,668 Rocket Lab Corporation $RKLB

Key Points

• Evoke Wealth LLC opened a new position in Rocket Lab during the fourth quarter, buying 5,668 shares valued at about $395,000.
• Institutional interest in Rocket Lab remains strong, with firms like Vanguard and the Swiss National Bank increasing holdings; overall, institutions own 71.78% of the company.
• Rocket Lab reported quarterly revenue of $200.35 million, beating expectations and rising 63.4% year over year, while analysts currently rate the stock Moderate Buy with an average target price of $97.19.

Evoke Wealth LLC purchased a new position in Rocket Lab Corporation (NASDAQ:RKLB - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 5,668 shares of the rocket manufacturer's stock, valued at approximately $395,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Arizona State Retirement System grew its position in Rocket Lab by 13.6% during the third quarter. Arizona State Retirement System now owns 127,794 shares of the rocket manufacturer's stock worth $6,123,000 after buying an additional 15,307 shares in the last quarter. Firsthand Capital Management Inc. raised its holdings in Rocket Lab by 40.0% in the 3rd quarter. Firsthand Capital Management Inc. now owns 70,000 shares of the rocket manufacturer's stock valued at $3,354,000 after acquiring an additional 20,000 shares in the last quarter. Swiss National Bank lifted its position in shares of Rocket Lab by 67.7% in the 3rd quarter. Swiss National Bank now owns 1,243,630 shares of the rocket manufacturer's stock worth $59,582,000 after acquiring an additional 501,830 shares during the period. Vanguard Group Inc. lifted its position in shares of Rocket Lab by 13.4% in the 4th quarter. Vanguard Group Inc. now owns 47,420,192 shares of the rocket manufacturer's stock worth $3,308,033,000 after acquiring an additional 5,610,469 shares during the period. Finally, State of New Jersey Common Pension Fund D grew its holdings in shares of Rocket Lab by 14.4% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 153,106 shares of the rocket manufacturer's stock worth $7,335,000 after purchasing an additional 19,304 shares in the last quarter. Institutional investors own 71.78% of the company's stock.

Rocket Lab Stock Performance

Shares of NASDAQ:RKLB opened at $135.76 on Tuesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.47 and a quick ratio of 4.02. The business's fifty day moving average price is $86.19 and its two-hundred day moving average price is $73.80. Rocket Lab Corporation has a fifty-two week low of $24.67 and a fifty-two week high of $139.76. The stock has a market capitalization of $78.57 billion, a price-to-earnings ratio of -424.25 and a beta of 2.30.

Rocket Lab (NASDAQ:RKLB - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The rocket manufacturer reported ($0.07) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates 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 business's revenue was up 63.4% on a year-over-year basis. During the same period last year, the business earned ($0.12) earnings per share. As a group, analysts predict that Rocket Lab Corporation will post -0.29 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently commented on RKLB. Craig Hallum upgraded Rocket Lab from a "hold" rating to a "buy" rating and set a $98.00 target price for the company in a research note on Friday, May 8th. Wall Street Zen upgraded shares of Rocket Lab from a "sell" rating to a "hold" rating in a research note on Sunday, February 8th. Roth Mkm increased their price objective on shares of Rocket Lab from $90.00 to $100.00 and gave the company a "buy" rating in a research note on Friday, April 17th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $85.00 price objective on shares of Rocket Lab in a report on Friday, March 13th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Rocket Lab from $73.00 to $120.00 and gave the company a "buy" rating in a research report on Tuesday, May 12th. Three equities 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, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $97.19.

Insider Transactions at Rocket Lab

In other Rocket Lab news, SVP Arjun Kampani sold 28,761 shares of the company's stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $69.59, for a total transaction of $2,001,477.99. Following the sale, the senior vice president directly owned 421,699 shares of the company's stock, valued at approximately $29,346,033.41. This represents a 6.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alexander R. Slusky sold 100,000 shares of Rocket Lab stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $118.08, for a total transaction of $11,808,000.00. Following the completion of the transaction, the director owned 434,675 shares of the company's stock, valued at $51,326,424. This trade represents a 18.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 333,449 shares of company stock valued at $28,295,233. 8.40% of the stock is owned by company insiders.

Rocket Lab Company 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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