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

GF Fund Management CO. LTD. purchased a new stake in Rocket Lab Corporation (NASDAQ:RKLB - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm purchased 180,970 shares of the rocket manufacturer's stock, valued at approximately $3,236,000.

Other hedge funds have also modified their holdings of the company. Sandy Spring Bank acquired a new stake in shares of Rocket Lab in the 4th quarter valued at approximately $26,000. Versant Capital Management Inc raised its holdings in Rocket Lab by 118.1% during the 1st quarter. Versant Capital Management Inc now owns 1,588 shares of the rocket manufacturer's stock worth $28,000 after buying an additional 860 shares during the period. MassMutual Private Wealth & Trust FSB acquired a new stake in Rocket Lab during the 1st quarter worth approximately $29,000. Quarry LP acquired a new stake in Rocket Lab during the 4th quarter worth approximately $48,000. Finally, Farther Finance Advisors LLC raised its holdings in Rocket Lab by 181.1% during the 1st quarter. Farther Finance Advisors LLC now owns 1,903 shares of the rocket manufacturer's stock worth $35,000 after buying an additional 1,226 shares during the period. 71.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RKLB has been the topic of several research analyst reports. Needham & Company LLC raised their target price on shares of Rocket Lab from $28.00 to $32.00 and gave the stock a "buy" rating in a report on Wednesday, May 28th. KeyCorp raised their target price on shares of Rocket Lab from $29.00 to $40.00 and gave the stock an "overweight" rating in a report on Wednesday. Wells Fargo & Company dropped their target price on shares of Rocket Lab from $21.00 to $18.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Morgan Stanley raised their target price on shares of Rocket Lab from $18.00 to $20.00 and gave the stock an "equal weight" rating in a report on Monday, March 10th. Finally, Stifel Nicolaus raised their price target on shares of Rocket Lab from $29.00 to $34.00 and gave the stock a "buy" rating in a research note on Wednesday, May 28th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Rocket Lab currently has an average rating of "Moderate Buy" and an average price target of $30.40.

Rocket Lab Stock Performance

Shares of RKLB traded down $0.08 during midday trading on Friday, reaching $35.60. The stock had a trading volume of 7,975,973 shares, compared to its average volume of 18,097,146. The firm has a 50 day simple moving average of $27.27 and a 200-day simple moving average of $24.63. Rocket Lab Corporation has a one year low of $4.20 and a one year high of $38.26. The firm has a market cap of $16.15 billion, a PE ratio of -89.00 and a beta of 2.15. The company has a current ratio of 2.08, a quick ratio of 1.72 and a debt-to-equity ratio of 0.97.

Rocket Lab (NASDAQ:RKLB - Get Free Report) last announced its earnings results on Thursday, May 8th. The rocket manufacturer reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.02). The company had revenue of $122.57 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 32.1% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.09) EPS. As a group, sell-side analysts anticipate that Rocket Lab Corporation will post -0.38 EPS for the current year.

Insider Buying and Selling at Rocket Lab

In other Rocket Lab news, Director Matthew Ocko sold 820,000 shares of the business's stock in a transaction dated 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 completion of the sale, the director owned 1,083,053 shares of the company's stock, valued at $28,170,208.53. The trade was a 43.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Frank Klein sold 2,546 shares of the business's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $30.00, for a total transaction of $76,380.00. Following the completion of the transaction, the insider owned 1,365,826 shares of the company's stock, valued at $40,974,780. The trade was a 0.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,130,995 shares of company stock worth $29,686,039. 13.70% of the stock is currently owned by company insiders.

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.