Rocket Lab Corporation (NASDAQ:RKLB) Shares Bought by McGuire Investment Group LLC

McGuire Investment Group LLC increased its holdings in Rocket Lab Corporation (NASDAQ:RKLB - Free Report) by 740.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 102,494 shares of the rocket manufacturer's stock after buying an additional 90,306 shares during the quarter. McGuire Investment Group LLC's holdings in Rocket Lab were worth $1,833,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in RKLB. FMR LLC grew its holdings in Rocket Lab by 30,853.3% during the 4th quarter. FMR LLC now owns 3,696,136 shares of the rocket manufacturer's stock valued at $94,141,000 after buying an additional 3,684,195 shares in the last quarter. Two Sigma Advisers LP bought a new position in Rocket Lab in the 4th quarter valued at $72,623,000. BNP Paribas Financial Markets purchased a new position in Rocket Lab in the 4th quarter worth about $56,977,000. Two Sigma Investments LP purchased a new position in shares of Rocket Lab during the fourth quarter worth approximately $47,074,000. Finally, Renaissance Technologies LLC raised its position in Rocket Lab by 1,765.4% during the 4th quarter. Renaissance Technologies LLC now owns 1,818,800 shares of the rocket manufacturer's stock valued at $46,325,000 after purchasing an additional 1,721,300 shares in the last quarter. 71.78% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on RKLB shares. 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. Roth Capital raised their price target on shares of Rocket Lab from $25.00 to $35.00 and gave the company a "buy" rating in a report on Wednesday, May 28th. The Goldman Sachs Group initiated coverage on shares of Rocket Lab in a research report on Monday. They issued a "neutral" rating and a $27.00 price objective on the stock. Cantor Fitzgerald boosted their price objective on shares of Rocket Lab from $29.00 to $35.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 10th. Finally, KeyCorp restated an "overweight" rating on shares of Rocket Lab in a research note on Tuesday, June 3rd. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $29.20.

Insider Buying and Selling at Rocket Lab

In other Rocket Lab news, Director Matthew Ocko sold 820,000 shares of the stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $26.01, for a total transaction of $21,328,200.00. Following the completion of the sale, the director directly owned 1,083,053 shares of the company's stock, valued at approximately $28,170,208.53. This trade represents a 43.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Frank Klein sold 44,885 shares of Rocket Lab stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $26.66, for a total value of $1,196,634.10. Following the completion of the transaction, the insider owned 1,370,190 shares in the company, valued at $36,529,265.40. This trade represents a 3.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,130,995 shares of company stock valued at $29,686,039. Company insiders own 13.70% of the company's stock.

Rocket Lab Price Performance

NASDAQ:RKLB traded up $0.39 during trading hours on Monday, hitting $35.77. The company's stock had a trading volume of 18,329,364 shares, compared to its average volume of 17,906,052. The stock has a fifty day moving average of $25.77 and a 200-day moving average of $24.26. Rocket Lab Corporation has a 52-week low of $4.20 and a 52-week high of $37.82. 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 (NASDAQ:RKLB - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The rocket manufacturer reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.02). The company had revenue of $122.57 million during the quarter, compared to analysts' expectations of $120.74 million. Rocket Lab had a negative net margin of 44.32% and a negative return on equity of 48.92%. Rocket Lab's revenue was up 32.1% on a year-over-year basis. During the same period last year, the firm earned ($0.09) earnings per share. Equities research analysts expect that Rocket Lab Corporation will post -0.38 EPS for the current fiscal year.

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.