GF Fund Management CO. LTD. Invests $3.24 Million in Rocket Lab Corporation (NASDAQ:RKLB)

GF Fund Management CO. LTD. acquired a new position in shares of Rocket Lab Corporation (NASDAQ:RKLB - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 180,970 shares of the rocket manufacturer's stock, valued at approximately $3,236,000.

A number of other institutional investors have also bought and sold shares of RKLB. Sandy Spring Bank bought a new position in shares of Rocket Lab during the 4th quarter worth approximately $26,000. Versant Capital Management Inc boosted its stake in Rocket Lab by 118.1% during the first quarter. Versant Capital Management Inc now owns 1,588 shares of the rocket manufacturer's stock worth $28,000 after acquiring an additional 860 shares in the last quarter. MassMutual Private Wealth & Trust FSB acquired a new stake in Rocket Lab in the first quarter worth $29,000. Quarry LP bought a new stake in Rocket Lab in the fourth quarter valued at $48,000. Finally, Farther Finance Advisors LLC raised its holdings in shares of Rocket Lab by 181.1% during the first quarter. Farther Finance Advisors LLC now owns 1,903 shares of the rocket manufacturer's stock valued at $35,000 after purchasing an additional 1,226 shares during the period. Institutional investors own 71.78% of the company's stock.

Insider Transactions at Rocket Lab

In other Rocket Lab news, insider Frank Klein sold 2,546 shares of Rocket Lab stock in a transaction on Monday, June 9th. The stock was sold at an average price of $30.00, for a total transaction of $76,380.00. Following the completion of the sale, the insider directly owned 1,365,826 shares of the company's stock, valued at $40,974,780. The trade was a 0.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Matthew Ocko sold 820,000 shares of the firm's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $26.01, for a total value of $21,328,200.00. Following the transaction, the director owned 1,083,053 shares in the company, valued at approximately $28,170,208.53. This represents a 43.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,130,995 shares of company stock worth $29,686,039 over the last three months. Company insiders own 13.70% of the company's stock.

Analyst Upgrades and Downgrades

RKLB has been the topic of a number of recent research reports. Wells Fargo & Company dropped their price objective on shares of Rocket Lab from $21.00 to $18.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Cantor Fitzgerald raised their price objective on shares of Rocket Lab from $29.00 to $35.00 and gave the stock an "overweight" rating in a report on Tuesday, June 10th. Needham & Company LLC lifted their price objective on Rocket Lab from $28.00 to $32.00 and gave the stock a "buy" rating in a report on Wednesday, May 28th. Roth Capital lifted their price objective on Rocket Lab from $25.00 to $35.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. Finally, Morgan Stanley raised their price objective on shares of Rocket Lab from $18.00 to $20.00 and gave the company an "equal weight" rating in a research report on Monday, March 10th. Four 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 MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $30.40.

Rocket Lab Trading Up 7.4%

Shares of RKLB traded up $2.64 during mid-day trading on Monday, reaching $38.30. 28,437,803 shares of the company's stock traded hands, compared to its average volume of 18,142,559. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.08 and a quick ratio of 1.72. The stock's 50-day moving average is $27.27 and its two-hundred day moving average is $24.64. Rocket Lab Corporation has a 12 month low of $4.20 and a 12 month high of $38.69. The stock has a market cap of $17.37 billion, a P/E ratio of -95.76 and a beta of 2.15.

Rocket Lab (NASDAQ:RKLB - Get Free Report) last released its earnings results on Thursday, May 8th. The rocket manufacturer reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.02). The business had revenue of $122.57 million during the quarter, compared to analysts' expectations of $120.74 million. Rocket Lab had a negative return on equity of 48.92% and a negative net margin of 44.32%. The business's revenue for the quarter was up 32.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.09) EPS. Research analysts forecast that Rocket Lab Corporation will post -0.38 earnings per share for the current fiscal year.

About Rocket Lab

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.