Informed Momentum Co LLC Trims Position in Rocket Lab Corporation (NASDAQ:RKLB)

Informed Momentum Co LLC trimmed its holdings in Rocket Lab Corporation (NASDAQ:RKLB - Free Report) by 57.7% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 97,132 shares of the rocket manufacturer's stock after selling 132,730 shares during the period. Informed Momentum Co LLC's holdings in Rocket Lab were worth $1,737,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Versant Capital Management Inc grew its position in shares of Rocket Lab by 118.1% in the first quarter. Versant Capital Management Inc now owns 1,588 shares of the rocket manufacturer's stock valued at $28,000 after purchasing an additional 860 shares during the last quarter. MassMutual Private Wealth & Trust FSB purchased a new position in shares of Rocket Lab during the first quarter valued at approximately $29,000. Farther Finance Advisors LLC raised its stake in Rocket Lab by 181.1% during the first quarter. Farther Finance Advisors LLC now owns 1,903 shares of the rocket manufacturer's stock worth $35,000 after purchasing an additional 1,226 shares during the period. Spectrum Wealth Counsel LLC raised its stake in Rocket Lab by 100.0% during the first quarter. Spectrum Wealth Counsel LLC now owns 2,000 shares of the rocket manufacturer's stock worth $36,000 after purchasing an additional 1,000 shares during the period. Finally, Quarry LP purchased a new position in shares of Rocket Lab in the 4th quarter valued at $48,000. 71.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on RKLB shares. Stifel Nicolaus raised their price target on shares of Rocket Lab from $34.00 to $55.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. Cantor Fitzgerald raised their price target on shares of Rocket Lab from $35.00 to $54.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. The Goldman Sachs Group started coverage on shares of Rocket Lab in a research report on Monday, June 30th. They issued a "neutral" rating and a $27.00 price target on the stock. Citigroup restated a "buy" rating and issued a $50.00 price target (up from $33.00) on shares of Rocket Lab in a research report on Monday, July 14th. Finally, Bank of America raised their price target on shares of Rocket Lab from $30.00 to $50.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Five investment 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 data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $42.27.

Rocket Lab Stock Down 3.5%

NASDAQ RKLB opened at $43.43 on Wednesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.67 and a quick ratio of 1.72. The company's 50 day simple moving average is $38.26 and its 200 day simple moving average is $28.02. Rocket Lab Corporation has a 12 month low of $5.03 and a 12 month high of $53.44. The company has a market capitalization of $20.04 billion, a P/E ratio of -96.51 and a beta of 2.17.

Rocket Lab (NASDAQ:RKLB - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The rocket manufacturer reported ($0.13) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 analyst estimates of $135.42 million. During the same quarter in the prior year, the firm earned ($0.08) EPS. The firm's revenue was up 35.9% compared to the same quarter last year. Equities research analysts expect that Rocket Lab Corporation will post -0.38 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Merline Saintil sold 6,353 shares of the business's stock in a transaction that occurred on Tuesday, June 24th. The shares were 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 in the company, valued at $14,005,213.22. The trade was a 1.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Arjun Kampani sold 5,194 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 $155,820.00. Following the sale, the insider owned 530,230 shares in the company, valued at $15,906,900. This represents a 0.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,130,995 shares of company stock worth $29,686,039 over the last three months. 11.90% of the stock is owned by 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.

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