Kovack Advisors Inc. Makes New Investment in Rocket Lab Corporation $RKLB

Key Points

• Kovack Advisors disclosed a new fourth-quarter stake in Rocket Lab, buying 68,057 shares worth about $4.75 million.
• Institutional interest in RKLB remains strong, with firms like Vanguard, Baillie Gifford, and Capital World Investors increasing their positions; institutions now own 71.78% of the company.
• Rocket Lab has seen mixed signals: insiders have sold shares in recent months, while analysts remain generally bullish with a Moderate Buy consensus and an average price target of $99.24.

Kovack Advisors Inc. purchased a new stake in Rocket Lab Corporation (NASDAQ:RKLB - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 68,057 shares of the rocket manufacturer's stock, valued at approximately $4,748,000.

A number of other hedge funds also recently made changes to their positions in RKLB. Vanguard Group Inc. raised its stake in Rocket Lab by 13.4% during the 4th quarter. Vanguard Group Inc. now owns 47,420,192 shares of the rocket manufacturer's stock valued at $3,308,033,000 after acquiring an additional 5,610,469 shares in the last quarter. Baillie Gifford & Co. grew its stake in shares of Rocket Lab by 47.2% in the fourth quarter. Baillie Gifford & Co. now owns 17,851,446 shares of the rocket manufacturer's stock worth $1,245,317,000 after purchasing an additional 5,725,536 shares in the last quarter. Capital World Investors increased its holdings in shares of Rocket Lab by 12.0% during the fourth quarter. Capital World Investors now owns 16,200,726 shares of the rocket manufacturer's stock valued at $1,130,172,000 after purchasing an additional 1,738,623 shares during the period. State Street Corp raised its stake in shares of Rocket Lab by 13.6% during the third quarter. State Street Corp now owns 12,399,571 shares of the rocket manufacturer's stock valued at $594,063,000 after purchasing an additional 1,487,237 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Rocket Lab by 10.1% during the fourth quarter. Geode Capital Management LLC now owns 9,004,724 shares of the rocket manufacturer's stock valued at $626,605,000 after purchasing an additional 825,158 shares in the last quarter. Institutional investors own 71.78% of the company's stock.

Insider Buying and Selling

In other news, CFO Adam C. Spice sold 62,744 shares of the business's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $142.57, for a total transaction of $8,945,412.08. Following the sale, the chief financial officer directly owned 983,049 shares of the company's stock, valued at $140,153,295.93. The trade was a 6.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Alexander R. Slusky sold 100,000 shares of the company's stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $118.08, for a total value of $11,808,000.00. Following the sale, the director directly owned 434,675 shares of the company's stock, valued at approximately $51,326,424. This represents a 18.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 485,515 shares of company stock valued at $66,909,882 in the last three months. Insiders own 8.40% of the company's stock.

Key Rocket Lab News

Here are the key news stories impacting Rocket Lab this week:

• Positive Sentiment: Rocket Lab is benefiting from broad enthusiasm for space stocks as traders position for the SpaceX IPO, with RKLB seen as a direct public alternative in the small-to-medium launch market. Why Rocket Lab (RKLB) Stock Is Up Today
• Positive Sentiment: Analysts and market commentary point to strong investor demand for SpaceX as a catalyst that could push capital into Rocket Lab and other space names. The Biggest Opportunity From SpaceX’s IPO May Surprise You (RKLB)
• Positive Sentiment: Sector-wide buying has lifted multiple space stocks, suggesting RKLB is moving with a broader momentum trade rather than on company-specific news alone. Virgin Galactic Soars 20%, AST SpaceMobile Rises 7%, Planet Labs Gains 6%, Rocket Lab Advances 5% as Space Stocks Catch a Bid

Wall Street Analyst Weigh In

Several research firms have commented on RKLB. BTIG Research reissued a "hold" rating on shares of Rocket Lab in a research note on Tuesday, May 12th. Roth Mkm increased their price objective on shares of Rocket Lab from $90.00 to $100.00 and gave the company a "buy" rating in a report on Friday, April 17th. Craig Hallum raised Rocket Lab from a "hold" rating to a "buy" rating and set a $98.00 target price on the stock in a report on Friday, May 8th. Stifel Nicolaus set a $132.00 target price on Rocket Lab in a research report on Thursday, June 4th. Finally, Citizens Jmp increased their price target on Rocket Lab from $85.00 to $95.00 and gave the company a "market outperform" rating in a research note on Friday, May 8th. Three analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $99.24.

Rocket Lab Stock Performance

NASDAQ:RKLB opened at $114.78 on Friday. Rocket Lab Corporation has a twelve month low of $25.24 and a twelve month high of $151.00. The company has a current ratio of 4.47, a quick ratio of 4.02 and a debt-to-equity ratio of 0.02. The company has a 50-day moving average of $100.89 and a 200-day moving average of $80.88. The firm has a market cap of $66.43 billion, a price-to-earnings ratio of -358.69 and a beta of 2.49.

Rocket Lab (NASDAQ:RKLB - Get Free Report) last released its earnings results on Thursday, May 7th. The rocket manufacturer reported ($0.07) EPS for the quarter, hitting analysts' consensus estimates of ($0.07). The business had revenue of $200.35 million for the quarter, compared to the consensus estimate of $189.65 million. Rocket Lab had a negative net margin of 26.87% and a negative return on equity of 11.72%. The business's revenue for the quarter was up 63.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.12) EPS. Analysts forecast that Rocket Lab Corporation will post -0.29 earnings per share for the current fiscal year.

About Rocket Lab

Rocket Lab is an aerospace company that provides launch services, spacecraft, and space systems for commercial and government customers. The company's primary launch vehicle is Electron, a small-lift orbital rocket designed to deploy small satellites and rideshare payloads to low Earth orbit. Rocket Lab also develops and manufactures the Rutherford engine, noted for its electric-pump-fed design and additive-manufactured components, which powers Electron and supports the company's propulsion capabilities.

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