GEM Asset Management LLC Buys Shares of 5,500 Rocket Lab Corporation $RKLB

Key Points

• GEM Asset Management LLC has acquired a new stake in Rocket Lab Corporation, purchasing 5,500 shares valued at approximately $214,000.
• Several institutional investors, including Versant Capital Management Inc and MassMutual Private Wealth & Trust FSB, have significantly increased their holdings in Rocket Lab, demonstrating growing interest and confidence in the company.
• Rocket Lab reported a net loss of $0.13 per share for the last quarter, missing expectations, although revenue rose by 35.9% year-over-year, totaling $144.50 million.

GEM Asset Management LLC bought a new position in shares of Rocket Lab Corporation (NASDAQ:RKLB - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,500 shares of the rocket manufacturer's stock, valued at approximately $214,000.

Several other large investors also recently bought and sold shares of the company. Sender Co & Partners Inc. acquired a new position in shares of Rocket Lab in the first quarter worth about $621,000. Royal Bank of Canada lifted its stake in Rocket Lab by 6.4% in the first quarter. Royal Bank of Canada now owns 2,128,536 shares of the rocket manufacturer's stock valued at $38,057,000 after buying an additional 128,907 shares during the last quarter. Wellington Management Group LLP acquired a new position in shares of Rocket Lab during the fourth quarter worth approximately $17,261,000. SG Americas Securities LLC increased its holdings in shares of Rocket Lab by 2,186.7% during the first quarter. SG Americas Securities LLC now owns 353,522 shares of the rocket manufacturer's stock valued at $6,321,000 after purchasing an additional 338,062 shares during the period. Finally, Voya Investment Management LLC raised its position in shares of Rocket Lab by 186.0% during the 1st quarter. Voya Investment Management LLC now owns 1,397,342 shares of the rocket manufacturer's stock worth $24,984,000 after buying an additional 908,808 shares in the last quarter. Institutional investors and hedge funds own 71.78% of the company's stock.

Insider Transactions at Rocket Lab

In other Rocket Lab news, Director Merline Saintil sold 6,353 shares of the company's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $33.38, for a total transaction of $212,063.14. Following the transaction, the director owned 419,569 shares of the company's stock, valued at approximately $14,005,213.22. This represents a 1.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on RKLB shares. Citigroup reaffirmed a "buy" rating and set a $50.00 target price (up from $33.00) on shares of Rocket Lab in a report on Monday, July 14th. KeyCorp upped their price target on Rocket Lab from $40.00 to $50.00 and gave the company an "overweight" rating in a report on Friday, August 8th. Needham & Company LLC restated a "buy" rating and issued a $55.00 target price on shares of Rocket Lab in a report on Wednesday, September 3rd. Craig Hallum began coverage on Rocket Lab in a report on Monday, July 28th. They set a "hold" rating and a $51.00 target price for the company. Finally, Stifel Nicolaus lifted their price target on Rocket Lab from $34.00 to $55.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, Rocket Lab currently has a consensus rating of "Moderate Buy" and a consensus target price of $42.27.

Rocket Lab Price Performance

Shares of Rocket Lab stock traded down $6.80 during midday trading on Tuesday, hitting $47.24. 42,403,045 shares of the company were exchanged, compared to its average volume of 20,615,398. The firm has a 50 day simple moving average of $45.72 and a 200-day simple moving average of $31.43. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.67 and a quick ratio of 2.33. The firm has a market cap of $22.64 billion, a P/E ratio of -104.98 and a beta of 2.17. Rocket Lab Corporation has a 52 week low of $7.00 and a 52 week high of $55.17.

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