Pinnacle Wealth Management LLC Increases Stake in Rocket Lab Corporation $RKLB

Key Points

• Pinnacle Wealth Management LLC increased its stake in Rocket Lab Corporation by 154.8%, owning 70,244 shares worth approximately $2.5 million, making it the firm's 21st largest position.
• Rocket Lab received positive ratings from several Wall Street analysts, with price targets raised significantly, including Citigroup's new target of $50 and Cantor Fitzgerald's target of $54.
• Insider selling has taken place, with significant transactions reported, including a sale by insider Frank Klein of over 45,000 shares valued at around $2.2 million.

Pinnacle Wealth Management LLC grew its stake in Rocket Lab Corporation (NASDAQ:RKLB - Free Report) by 154.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 70,244 shares of the rocket manufacturer's stock after buying an additional 42,681 shares during the quarter. Rocket Lab accounts for approximately 2.1% of Pinnacle Wealth Management LLC's portfolio, making the stock its 21st biggest position. Pinnacle Wealth Management LLC's holdings in Rocket Lab were worth $2,513,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. International Assets Investment Management LLC purchased a new position in shares of Rocket Lab in the 2nd quarter valued at about $441,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Rocket Lab during the second quarter worth approximately $780,000. Huntleigh Advisors Inc. lifted its stake in Rocket Lab by 2.6% during the second quarter. Huntleigh Advisors Inc. now owns 51,747 shares of the rocket manufacturer's stock worth $1,851,000 after purchasing an additional 1,322 shares during the last quarter. Dale Q Rice Investment Management Ltd acquired a new position in Rocket Lab in the second quarter valued at approximately $339,000. Finally, Stratos Wealth Partners LTD. increased its stake in Rocket Lab by 10.7% in the second quarter. Stratos Wealth Partners LTD. now owns 27,641 shares of the rocket manufacturer's stock valued at $989,000 after purchasing an additional 2,661 shares during the last quarter. Hedge funds and other institutional investors own 71.78% of the company's stock.

Wall Street Analysts Forecast Growth

RKLB has been the subject of several recent analyst reports. Citigroup restated a "buy" rating and set a $50.00 price objective (up previously from $33.00) on shares of Rocket Lab in a research report on Monday, July 14th. Cantor Fitzgerald boosted their price target on shares of Rocket Lab from $35.00 to $54.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. Bank of America upped their price objective on shares of Rocket Lab from $30.00 to $50.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Craig Hallum started coverage on Rocket Lab in a research report on Monday, July 28th. They set a "hold" rating and a $51.00 target price on the stock. Finally, Robert W. Baird initiated coverage on Rocket Lab in a report on Wednesday. They issued an "outperform" rating and a $83.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $51.75.

Rocket Lab Trading Down 1.1%

RKLB opened at $66.27 on Friday. The firm has a market cap of $32.07 billion, a price-to-earnings ratio of -147.27 and a beta of 2.14. Rocket Lab Corporation has a 52 week low of $10.29 and a 52 week high of $73.97. The business's 50 day moving average is $50.68 and its two-hundred day moving average is $37.41. 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 released its quarterly earnings results on Thursday, August 7th. The rocket manufacturer reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.06). The firm had revenue of $144.50 million for the quarter, compared to analyst estimates of $135.42 million. Rocket Lab had a negative return on equity of 48.14% and a negative net margin of 45.87%.The company's quarterly revenue was up 35.9% on a year-over-year basis. During the same period last year, the firm earned ($0.08) EPS. Rocket Lab has set its Q3 2025 guidance at EPS. On average, research analysts predict that Rocket Lab Corporation will post -0.38 EPS for the current year.

Insiders Place Their Bets

In other news, insider Frank Klein sold 45,535 shares of the business's stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $48.97, for a total value of $2,229,848.95. Following the transaction, the insider owned 1,320,291 shares of the company's stock, valued at approximately $64,654,650.27. The trade was a 3.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Arjun Kampani sold 31,185 shares of the business's stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $48.97, for a total value of $1,527,129.45. Following the completion of the transaction, the senior vice president directly owned 499,045 shares in the company, valued at approximately $24,438,233.65. The trade was a 5.88% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,406,361 shares of company stock valued at $267,483,973. 11.90% of the stock is owned by company insiders.

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.

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