Magnetar Financial LLC Takes $1.21 Million Position in Rocket Lab Corporation $RKLB

Key Points

• Magnetar Financial LLC acquired a new stake in Rocket Lab Corporation by purchasing 67,749 shares valued at approximately $1.2 million in the first quarter.
• Several hedge funds, including Versant Capital Management and Farther Finance Advisors, have significantly increased their positions in Rocket Lab, indicating growing institutional interest in the company.
• Despite a revenue increase of 35.9% year-over-year, Rocket Lab reported an earnings loss of ($0.13) EPS, missing consensus estimates by $0.06.

Magnetar Financial LLC purchased a new position in shares of Rocket Lab Corporation (NASDAQ:RKLB - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 67,749 shares of the rocket manufacturer's stock, valued at approximately $1,211,000.

A number of other large investors have also added to or reduced their stakes in RKLB. Versant Capital Management Inc grew its position in Rocket Lab by 118.1% during the first 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 in the last quarter. MassMutual Private Wealth & Trust FSB bought a new stake in Rocket Lab during the first quarter worth $29,000. Farther Finance Advisors LLC lifted 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 last quarter. Spectrum Wealth Counsel LLC lifted 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 last quarter. Finally, Quarry LP bought a new stake in Rocket Lab during the fourth quarter worth $48,000. Institutional investors and hedge funds own 71.78% of the company's stock.

Rocket Lab Price Performance

Shares of RKLB traded up $0.69 during trading hours on Friday, reaching $48.60. The stock had a trading volume of 15,851,315 shares, compared to its average volume of 20,560,366. The stock has a market capitalization of $23.30 billion, a PE ratio of -108.00 and a beta of 2.17. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.33 and a current ratio of 2.67. Rocket Lab Corporation has a 12 month low of $5.74 and a 12 month high of $53.44. The company's 50-day moving average is $42.73 and its two-hundred day moving average is $29.48.

Rocket Lab (NASDAQ:RKLB - Get Free Report) last announced its earnings results on Thursday, August 7th. The rocket manufacturer reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.06). The company had revenue of $144.50 million for the quarter, compared to the consensus estimate of $135.42 million. Rocket Lab had a negative return on equity of 48.14% and a negative net margin of 45.87%.The firm's revenue for the quarter was up 35.9% on a year-over-year basis. During the same period in the prior year, the business earned ($0.08) earnings per share. Rocket Lab has set its Q3 2025 guidance at EPS. Research analysts expect that Rocket Lab Corporation will post -0.38 EPS for the current year.

Insider Buying and Selling

In related news, Director Merline Saintil sold 6,353 shares of the firm's stock in a transaction 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 completion of the transaction, the director directly owned 419,569 shares of the company's stock, valued at $14,005,213.22. This trade represents a 1.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Matthew Ocko sold 820,000 shares of the firm's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $26.01, for a total value of $21,328,200.00. Following the transaction, the director directly owned 1,083,053 shares of the company's stock, valued at approximately $28,170,208.53. This represents a 43.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,049,276 shares of company stock valued at $27,481,440 in the last quarter. 11.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on RKLB shares. The Goldman Sachs Group started coverage on Rocket Lab in a research note on Monday, June 30th. They set a "neutral" rating and a $27.00 target price for the company. Needham & Company LLC restated a "buy" rating and set a $55.00 target price (up from $45.00) on shares of Rocket Lab in a research note on Friday, August 8th. Bank of America upped their target price on Rocket Lab from $30.00 to $50.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Citigroup restated a "buy" rating and set a $50.00 target price (up from $33.00) on shares of Rocket Lab in a research note on Monday, July 14th. Finally, Roth Capital upped their target price on Rocket Lab from $25.00 to $35.00 and gave the stock a "buy" rating in a research note on Wednesday, May 28th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $42.27.

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.