Foundations Investment Advisors LLC Purchases 15,719 Shares of Rocket Lab Corporation $RKLB

Key Points

• Foundations Investment Advisors LLC increased its Rocket Lab stake by 20.8% in the fourth quarter, buying 15,719 additional shares and lifting its total holdings to 91,175 shares worth about $6.36 million.
• Wall Street sentiment on Rocket Lab is largely positive: analysts have an average “Moderate Buy” rating with a $97.19 price target, while TD Cowen and Craig Hallum recently raised their targets and reiterated bullish views.
• The company reported strong quarterly revenue growth of 63.4% year over year and beat revenue expectations, but insiders have recently been heavy sellers, with $60.0 million in stock sold over the last 90 days.

Foundations Investment Advisors LLC raised its holdings in shares of Rocket Lab Corporation (NASDAQ:RKLB - Free Report) by 20.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 91,175 shares of the rocket manufacturer's stock after acquiring an additional 15,719 shares during the quarter. Foundations Investment Advisors LLC's holdings in Rocket Lab were worth $6,360,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Aventura Private Wealth LLC bought a new stake in shares of Rocket Lab during the 4th quarter valued at $25,000. UMB Bank n.a. grew its position in shares of Rocket Lab by 352.5% during the 3rd quarter. UMB Bank n.a. now owns 543 shares of the rocket manufacturer's stock valued at $26,000 after acquiring an additional 423 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of Rocket Lab by 109.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 796 shares of the rocket manufacturer's stock valued at $28,000 after acquiring an additional 416 shares during the period. V Square Quantitative Management LLC bought a new stake in shares of Rocket Lab during the 4th quarter valued at $32,000. Finally, DecisionPoint Financial LLC grew its position in shares of Rocket Lab by 91.1% during the 4th quarter. DecisionPoint Financial LLC now owns 472 shares of the rocket manufacturer's stock valued at $33,000 after acquiring an additional 225 shares during the period. Institutional investors own 71.78% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. TD Cowen boosted their price objective on shares of Rocket Lab from $90.00 to $120.00 and gave the company a "buy" rating in a research report on Friday, May 8th. Wells Fargo & Company assumed coverage on shares of Rocket Lab in a research report on Wednesday, April 1st. They set an "equal weight" rating and a $60.00 price objective for the company. Craig Hallum raised shares of Rocket Lab from a "hold" rating to a "buy" rating and set a $98.00 price objective for the company in a research report on Friday, May 8th. Weiss Ratings reissued a "sell (d-)" rating on shares of Rocket Lab in a research report on Tuesday, April 21st. Finally, Clear Str raised shares of Rocket Lab to a "strong-buy" rating in a research report on Wednesday, March 18th. Three investment 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 stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $97.19.

Insider Activity

In related news, SVP Arjun Kampani sold 70,000 shares of the company's stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $145.13, for a total value of $10,159,100.00. Following the completion of the transaction, the senior vice president owned 376,509 shares of the company's stock, valued at approximately $54,642,751.17. This represents a 15.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible 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, CFO Adam C. Spice sold 62,744 shares of the business's stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $69.59, for a total transaction of $4,366,354.96. Following the completion of the sale, the chief financial officer owned 1,296,824 shares in the company, valued at approximately $90,245,982.16. The trade was a 4.61% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 554,800 shares of company stock worth $60,032,445. 8.40% of the stock is currently owned by corporate insiders.

Rocket Lab Trading Down 1.5%

Shares of Rocket Lab stock opened at $148.03 on Friday. The company has a market capitalization of $85.67 billion, a P/E ratio of -462.59 and a beta of 2.30. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.02 and a current ratio of 4.47. The company has a fifty day moving average of $90.65 and a 200 day moving average of $75.80. Rocket Lab Corporation has a fifty-two week low of $25.24 and a fifty-two week high of $151.00.

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). The company had revenue of $200.35 million during the quarter, compared to the consensus estimate of $189.65 million. Rocket Lab had a negative net margin of 26.87% and a negative return on equity of 11.72%. Rocket Lab's quarterly revenue was up 63.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.12) EPS. On average, sell-side analysts anticipate that Rocket Lab Corporation will post -0.29 earnings per share for the current fiscal year.

Rocket Lab News Roundup

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

• Positive Sentiment: Rocket Lab announced it passed the System Requirements Review for the Space Development Agency’s Tracking Layer Tranche 3 program, a key step that supports its role in a proposed missile-defense constellation. Rocket Lab Achieves Milestone for Missile Defense Constellation, Passes System Requirements Review for SDA Tracking Layer Tranche 3
• Positive Sentiment: The company recently won a $90 million U.S. Space Force contract to build geostationary satellites, adding to investor confidence that Rocket Lab is expanding its defense footprint and government-contract pipeline.
• Positive Sentiment: Rocket Lab’s defense awards have now surpassed $1.3 billion, a headline that has helped fuel the stock’s recent rerating as investors see more long-term revenue potential from national-security programs.
• Positive Sentiment: Space-sector enthusiasm has broadened after SpaceX’s IPO filing, lifting attention on public peers like Rocket Lab as investors speculate the group could benefit from renewed capital inflows and higher sector valuations.
• Neutral Sentiment: Social-media and analyst commentary remains bullish overall, but some traders are taking profits after the strong run, which may be adding short-term choppiness to the share price.
• Negative Sentiment: Insider trading data shows only sales and no purchases over the past six months, which could weigh on sentiment even though it does not necessarily change the company’s operating outlook.

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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