Legato Capital Management LLC Purchases 8,628 Shares of Rocket Lab Corporation $RKLB

Key Points

• Legato Capital Management boosted its Rocket Lab stake by 40.4% in the fourth quarter, buying 8,628 additional shares and bringing its total holdings to 29,961 shares valued at about $2.09 million.
• Rocket Lab continues to draw institutional and analyst support, with 71.78% of the stock held by hedge funds and other institutions and a consensus analyst rating of “Moderate Buy” with an average target price of $97.19.
• Operational and business momentum remains strong: the company recently won a $90 million U.S. Space Force contract and reported quarterly revenue of $200.35 million, up 63.4% year over year, while matching EPS expectations at -$0.07.

Legato Capital Management LLC raised its position in shares of Rocket Lab Corporation (NASDAQ:RKLB - Free Report) by 40.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,961 shares of the rocket manufacturer's stock after purchasing an additional 8,628 shares during the period. Legato Capital Management LLC's holdings in Rocket Lab were worth $2,090,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Aventura Private Wealth LLC acquired a new stake in Rocket Lab during the 4th quarter worth about $25,000. V Square Quantitative Management LLC acquired a new position in shares of Rocket Lab in the 4th quarter valued at about $32,000. DecisionPoint Financial LLC lifted its holdings in shares of Rocket Lab by 91.1% in the 4th quarter. DecisionPoint Financial LLC now owns 472 shares of the rocket manufacturer's stock valued at $33,000 after buying an additional 225 shares during the period. Asset Dedication LLC acquired a new position in shares of Rocket Lab in the 4th quarter valued at about $33,000. Finally, Eagle Bay Advisors LLC acquired a new position in shares of Rocket Lab in the 4th quarter valued at about $35,000. 71.78% of the stock is currently owned by hedge funds and other institutional investors.

Rocket Lab Price Performance

NASDAQ:RKLB opened at $135.76 on Friday. Rocket Lab Corporation has a 12 month low of $24.67 and a 12 month high of $139.76. The stock has a 50 day moving average of $84.84 and a two-hundred day moving average of $73.16. 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 firm has a market cap of $78.57 billion, a P/E ratio of -424.25 and a beta of 2.30.

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

Rocket Lab News Summary

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

• Positive Sentiment: Rocket Lab won a $90 million Space Force contract, which expands its satellite business into geostationary orbit and adds a meaningful new source of revenue. Article Title
• Positive Sentiment: The company completed its 9th Electron launch for Synspective, underscoring strong execution and a durable commercial launch partnership. Article Title
• Neutral Sentiment: Broader space-stock momentum and renewed interest ahead of SpaceX’s IPO are also lifting sentiment across the sector, including RKLB. Article Title
• Negative Sentiment: Some investors remain wary after Rocket Lab’s recent announcement of a potential $3 billion share-sale program, which raised dilution concerns earlier in the week. Article Title

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on RKLB. Roth Mkm boosted their price objective on Rocket Lab from $90.00 to $100.00 and gave the company a "buy" rating in a report on Friday, April 17th. Needham & Company LLC boosted their price objective on Rocket Lab from $95.00 to $120.00 and gave the company a "buy" rating in a report on Monday, May 11th. Citizens Jmp boosted their price objective on Rocket Lab from $85.00 to $95.00 and gave the company a "market outperform" rating in a report on Friday, May 8th. Zacks Research cut Rocket Lab from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 10th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $85.00 price target on shares of Rocket Lab in a report on Friday, March 13th. Three analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $97.19.

Insiders Place Their Bets

In other news, Director Merline Saintil sold 18,126 shares of the company's stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $75.04, for a total value of $1,360,175.04. Following the completion of the sale, the director directly owned 261,903 shares in the company, valued at $19,653,201.12. This represents a 6.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Frank Klein sold 36,768 shares of the company's stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $71.95, for a total value of $2,645,457.60. Following the completion of the sale, the insider owned 1,088,237 shares of the company's stock, valued at $78,298,652.15. This trade represents a 3.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 333,449 shares of company stock valued at $28,295,233. Insiders own 8.40% of the company's stock.

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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