MGO One Seven LLC Takes $584,000 Position in Rocket Lab Corporation $RKLB

Key Points

• MGO One Seven LLC acquired a new position in Rocket Lab Corporation, purchasing 16,324 shares valued at approximately $584,000.
• Several institutional investors, including Farther Finance Advisors and Spectrum Wealth Counsel, have increased their stakes in Rocket Lab, reflecting a growing interest in the company.
• Analysts have set varying price targets for Rocket Lab, with Morgan Stanley raising theirs from $20 to $68 and KeyCorp from $50 to $75, highlighting positive sentiment towards the stock.

MGO One Seven LLC bought a new stake in shares of Rocket Lab Corporation (NASDAQ:RKLB - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 16,324 shares of the rocket manufacturer's stock, valued at approximately $584,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC lifted its position in shares of Rocket Lab by 181.1% during the 1st quarter. Farther Finance Advisors LLC now owns 1,903 shares of the rocket manufacturer's stock valued at $35,000 after buying an additional 1,226 shares in the last quarter. Spectrum Wealth Counsel LLC lifted its holdings in Rocket Lab by 100.0% in the 1st quarter. Spectrum Wealth Counsel LLC now owns 2,000 shares of the rocket manufacturer's stock valued at $36,000 after purchasing an additional 1,000 shares in the last quarter. ORG Partners LLC lifted its holdings in Rocket Lab by 491.9% in the 2nd quarter. ORG Partners LLC now owns 1,095 shares of the rocket manufacturer's stock valued at $38,000 after purchasing an additional 910 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Rocket Lab by 36.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,518 shares of the rocket manufacturer's stock valued at $54,000 after purchasing an additional 405 shares in the last quarter. Finally, National Bank of Canada FI lifted its holdings in Rocket Lab by 39.8% in the 1st quarter. National Bank of Canada FI now owns 3,118 shares of the rocket manufacturer's stock valued at $56,000 after purchasing an additional 887 shares in the last quarter. Hedge funds and other institutional investors own 71.78% of the company's stock.

Analysts Set New Price Targets

RKLB has been the topic of a number of research reports. The Goldman Sachs Group initiated coverage on Rocket Lab in a report on Monday, June 30th. They issued a "neutral" rating and a $27.00 price objective on the stock. Morgan Stanley raised their price objective on Rocket Lab from $20.00 to $68.00 and gave the company an "equal weight" rating in a report on Monday, October 13th. KeyCorp raised their price objective on Rocket Lab from $50.00 to $75.00 and gave the company an "overweight" rating in a report on Friday. Roth Capital restated a "buy" rating on shares of Rocket Lab in a report on Friday, August 29th. Finally, Cantor Fitzgerald raised their price objective on Rocket Lab from $35.00 to $54.00 and gave the company an "overweight" rating in a report on Friday, August 8th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $51.75.

Insider Transactions at Rocket Lab

In related news, SVP Arjun Kampani sold 9,416 shares of the business's stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $47.70, for a total value of $449,143.20. Following the sale, the senior vice president directly owned 489,629 shares in the company, valued at approximately $23,355,303.30. The trade was a 1.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Adam C. Spice sold 874,588 shares of the business's stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $48.01, for a total transaction of $41,988,969.88. Following the completion of the sale, the chief financial officer owned 2,057,889 shares in the company, valued at approximately $98,799,250.89. This trade represents a 29.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,406,361 shares of company stock worth $267,483,973 in the last 90 days. Insiders own 11.90% of the company's stock.

Rocket Lab Stock Down 1.1%

Shares of RKLB opened at $66.27 on Friday. Rocket Lab Corporation has a 52-week low of $10.29 and a 52-week high of $73.97. The company has a market capitalization of $32.07 billion, a PE ratio of -147.27 and a beta of 2.14. The stock has a fifty day simple moving average of $50.68 and a two-hundred day simple moving average of $37.28. The company has a quick ratio of 2.33, a current ratio of 2.67 and a debt-to-equity ratio of 0.60.

Rocket Lab (NASDAQ:RKLB - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $135.42 million. Rocket Lab had a negative net margin of 45.87% and a negative return on equity of 48.14%. The firm's quarterly revenue was up 35.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.08) earnings per share. Rocket Lab has set its Q3 2025 guidance at EPS. As a group, equities analysts forecast that Rocket Lab Corporation will post -0.38 EPS for the current year.

Rocket Lab 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.

Want to see what other hedge funds are holding RKLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rocket Lab Corporation (NASDAQ:RKLB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.