Miller Financial Services LLC Purchases Shares of 10,010 Rocket Lab Corporation (NASDAQ:RKLB)

Miller Financial Services LLC bought 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 13F filing with the Securities & Exchange Commission. The firm bought 10,010 shares of the rocket manufacturer's stock, valued at approximately $179,000.

A number of other hedge funds also recently modified their holdings of RKLB. Sandy Spring Bank acquired a new stake in shares of Rocket Lab in the 4th quarter valued at approximately $26,000. Versant Capital Management Inc boosted its holdings in shares of Rocket Lab by 118.1% in the 1st quarter. Versant Capital Management Inc now owns 1,588 shares of the rocket manufacturer's stock valued at $28,000 after buying an additional 860 shares during the last quarter. MassMutual Private Wealth & Trust FSB acquired a new stake in shares of Rocket Lab in the 1st quarter valued at approximately $29,000. Quarry LP acquired a new position in shares of Rocket Lab during the 4th quarter worth approximately $48,000. Finally, Farther Finance Advisors LLC increased its holdings 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 worth $35,000 after acquiring an additional 1,226 shares during the last quarter. Institutional investors and hedge funds own 71.78% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Roth Capital increased their target price on Rocket Lab from $25.00 to $35.00 and gave the company a "buy" rating in a research report on Wednesday, May 28th. Wells Fargo & Company decreased their target price on Rocket Lab from $21.00 to $18.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Bank of America raised their price objective on Rocket Lab from $30.00 to $50.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Needham & Company LLC raised their price objective on Rocket Lab from $28.00 to $32.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. Finally, Stifel Nicolaus raised their target price on Rocket Lab from $29.00 to $34.00 and gave the company a "buy" rating in a report on Wednesday, May 28th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $34.10.

Insider Activity

In other news, insider Arjun Kampani sold 5,194 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $30.00, for a total value of $155,820.00. Following the sale, the insider directly owned 530,230 shares in the company, valued at $15,906,900. This represents a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Frank Klein sold 2,546 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $30.00, for a total transaction of $76,380.00. Following the sale, the insider owned 1,365,826 shares in the company, valued at approximately $40,974,780. This trade represents a 0.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,130,995 shares of company stock worth $29,686,039 in the last ninety days. 11.90% of the stock is currently owned by insiders.

Rocket Lab Trading Down 8.2%

RKLB traded down $4.20 on Monday, hitting $47.19. The company had a trading volume of 29,213,290 shares, compared to its average volume of 18,952,449. The company has a quick ratio of 1.72, a current ratio of 2.08 and a debt-to-equity ratio of 0.97. The company has a market cap of $21.77 billion, a PE ratio of -117.98 and a beta of 2.15. Rocket Lab Corporation has a 12-month low of $4.20 and a 12-month high of $53.44. The business's fifty day simple moving average is $31.48 and its 200 day simple moving average is $25.84.

Rocket Lab (NASDAQ:RKLB - Get Free Report) last announced its quarterly earnings data 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 for 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 quarterly revenue was up 32.1% compared to the same quarter last year. 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 year.

About Rocket Lab

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.