Rocket Lab Corporation (NASDAQ:RKLB) Shares Bought by Harel Insurance Investments & Financial Services Ltd.

Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of Rocket Lab Corporation (NASDAQ:RKLB - Free Report) by 25.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 47,146 shares of the rocket manufacturer's stock after purchasing an additional 9,418 shares during the period. Harel Insurance Investments & Financial Services Ltd.'s holdings in Rocket Lab were worth $843,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp increased its stake in Rocket Lab by 2.6% in the 4th quarter. Bank of New York Mellon Corp now owns 1,121,024 shares of the rocket manufacturer's stock worth $28,552,000 after acquiring an additional 28,618 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Rocket Lab in the fourth quarter valued at $1,564,000. US Bancorp DE increased its position in Rocket Lab by 1,937.6% in the fourth quarter. US Bancorp DE now owns 7,315 shares of the rocket manufacturer's stock worth $186,000 after purchasing an additional 6,956 shares during the last quarter. Smartleaf Asset Management LLC increased its position in Rocket Lab by 1,565.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,015 shares of the rocket manufacturer's stock worth $53,000 after purchasing an additional 1,894 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its stake in Rocket Lab by 450.4% during the fourth quarter. Jones Financial Companies Lllp now owns 10,238 shares of the rocket manufacturer's stock valued at $261,000 after purchasing an additional 8,378 shares in the last quarter. Hedge funds and other institutional investors own 71.78% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Cantor Fitzgerald boosted their target price 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. Stifel Nicolaus boosted their price objective on Rocket Lab from $29.00 to $34.00 and gave the stock a "buy" rating in a research note on Wednesday, May 28th. KeyCorp upped their price objective on Rocket Lab from $29.00 to $40.00 and gave the company an "overweight" rating in a research report on Wednesday. The Goldman Sachs Group initiated coverage on Rocket Lab in a report on Monday, June 30th. They issued a "neutral" rating and a $27.00 target price for the company. Finally, Morgan Stanley increased their price target on Rocket Lab from $18.00 to $20.00 and gave the company an "equal weight" rating in a report on Monday, March 10th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $30.40.

Rocket Lab Trading Down 0.2%

Shares of RKLB traded down $0.08 during trading hours on Friday, reaching $35.60. 7,975,973 shares of the company traded hands, compared to its average volume of 18,097,146. The stock's fifty day moving average price is $27.27 and its 200 day moving average price is $24.63. The company has a current ratio of 2.08, a quick ratio of 1.72 and a debt-to-equity ratio of 0.97. The firm has a market cap of $16.15 billion, a price-to-earnings ratio of -89.00 and a beta of 2.15. Rocket Lab Corporation has a 12-month low of $4.20 and a 12-month high of $38.26.

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

Insider Transactions at Rocket Lab

In other news, Director Merline Saintil sold 6,353 shares of the stock in a transaction on Friday, June 20th. The stock was sold at an average price of $29.41, for a total transaction of $186,841.73. Following the transaction, the director owned 425,922 shares of the company's stock, valued at approximately $12,526,366.02. This represents a 1.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Arjun Kampani sold 28,988 shares of Rocket Lab stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $26.66, for a total value of $772,820.08. Following the completion of the sale, the insider owned 540,618 shares of the company's stock, valued at $14,412,875.88. The trade was a 5.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,130,995 shares of company stock valued at $29,686,039. Company insiders own 13.70% of the company's stock.

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.