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

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

Several other hedge funds and other institutional investors also recently modified their holdings of RKLB. Sandy Spring Bank acquired a new position in Rocket Lab in the fourth quarter worth about $26,000. Versant Capital Management Inc lifted 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 last quarter. MassMutual Private Wealth & Trust FSB acquired a new position in shares of Rocket Lab in the 1st quarter worth approximately $29,000. Quarry LP bought a new stake in shares of Rocket Lab in the 4th quarter valued at approximately $48,000. Finally, Farther Finance Advisors LLC raised its position in shares of Rocket Lab by 181.1% during the 1st quarter. Farther Finance Advisors LLC now owns 1,903 shares of the rocket manufacturer's stock valued at $35,000 after acquiring an additional 1,226 shares in the last quarter. Institutional investors own 71.78% of the company's stock.

Insider Activity at Rocket Lab

In related news, Director Merline Saintil sold 6,353 shares of the business's stock in a transaction that occurred 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 sale, the director owned 419,569 shares of the company's stock, valued at $14,005,213.22. The trade was a 1.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Arjun Kampani sold 5,194 shares of the company's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $30.00, for a total value of $155,820.00. Following the completion of the sale, the insider owned 530,230 shares of the company's stock, valued at $15,906,900. This trade represents a 0.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,130,995 shares of company stock worth $29,686,039. 13.70% of the stock is owned by company insiders.

Rocket Lab Stock Performance

Shares of NASDAQ:RKLB traded down $0.08 during trading hours on Friday, hitting $35.60. The stock had a trading volume of 7,975,973 shares, compared to its average volume of 18,043,493. The stock's fifty day simple moving average is $27.27 and its 200 day simple moving average is $24.62. The firm has a market capitalization of $16.15 billion, a price-to-earnings ratio of -89.00 and a beta of 2.15. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.72 and a current ratio of 2.08. Rocket Lab Corporation has a 1-year low of $4.20 and a 1-year high of $38.26.

Rocket Lab (NASDAQ:RKLB - Get Free Report) last posted 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). Rocket Lab had a negative net margin of 44.32% and a negative return on equity of 48.92%. The business had revenue of $122.57 million during the quarter, compared to analyst estimates of $120.74 million. During the same quarter in the prior year, the business earned ($0.09) earnings per share. The firm's revenue was up 32.1% compared to the same quarter last year. Sell-side analysts anticipate that Rocket Lab Corporation will post -0.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. KeyCorp lifted their price objective on shares of Rocket Lab from $29.00 to $40.00 and gave the stock an "overweight" rating in a report on Wednesday. Roth Capital raised their price target on shares of Rocket Lab from $25.00 to $35.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. Wells Fargo & Company lowered their price objective on shares of Rocket Lab from $21.00 to $18.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Stifel Nicolaus increased their price objective 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. Finally, Needham & Company LLC lifted their target price on Rocket Lab from $28.00 to $32.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. 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 stock. According to MarketBeat, Rocket Lab has an average rating of "Moderate Buy" and an average target price of $30.40.

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.