Pinnacle Wealth Management LLC Makes New $493,000 Investment in Rocket Lab Corporation $RKLB

Key Points

• Pinnacle Wealth Management LLC has made a new investment in Rocket Lab Corporation, purchasing 27,563 shares valued at approximately $493,000 in the first quarter.
• Several hedge funds have recently increased their stakes in Rocket Lab, with institutional investors now owning 71.78% of the stock.
• Brokerages have set new price targets for Rocket Lab, with ratings ranging from "hold" to "overweight", and a consensus average target price of $42.27.

Pinnacle Wealth Management LLC purchased a new stake in shares of Rocket Lab Corporation (NASDAQ:RKLB - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 27,563 shares of the rocket manufacturer's stock, valued at approximately $493,000.

Other large investors have also recently bought and sold shares of the company. Versant Capital Management Inc boosted 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 valued at $28,000 after purchasing an additional 860 shares during the last quarter. MassMutual Private Wealth & Trust FSB acquired a new position in Rocket Lab during the first quarter valued at approximately $29,000. Farther Finance Advisors LLC lifted its position in shares of Rocket Lab by 181.1% in the first 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 during the last quarter. Spectrum Wealth Counsel LLC boosted its stake in shares of Rocket Lab by 100.0% during the 1st quarter. Spectrum Wealth Counsel LLC now owns 2,000 shares of the rocket manufacturer's stock worth $36,000 after acquiring an additional 1,000 shares during the period. Finally, Quarry LP bought a new position in shares of Rocket Lab during the 4th quarter worth approximately $48,000. 71.78% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on RKLB shares. The Goldman Sachs Group initiated coverage on Rocket Lab in a research note on Monday, June 30th. They issued a "neutral" rating and a $27.00 price target on the stock. Roth Capital increased their price objective on shares of Rocket Lab from $25.00 to $35.00 and gave the company a "buy" rating in a research report on Wednesday, May 28th. Needham & Company LLC reaffirmed a "buy" rating and set a $55.00 target price (up previously from $45.00) on shares of Rocket Lab in a report on Friday, August 8th. Cantor Fitzgerald upped their price target on shares of Rocket Lab from $35.00 to $54.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Finally, KeyCorp lifted their price target on Rocket Lab from $40.00 to $50.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. One investment 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 company. According to MarketBeat, Rocket Lab currently has a consensus rating of "Moderate Buy" and an average price target of $42.27.

Insider Transactions at Rocket Lab

In related news, 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 transaction of $21,328,200.00. Following the sale, the director owned 1,083,053 shares of the company's stock, valued at $28,170,208.53. This trade represents a 43.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Frank Klein sold 2,546 shares of Rocket Lab stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $30.00, for a total value of $76,380.00. Following the transaction, the insider directly owned 1,365,826 shares in the company, valued at $40,974,780. The trade was a 0.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,130,995 shares of company stock worth $29,686,039. Insiders own 11.90% of the company's stock.

Rocket Lab Price Performance

Shares of RKLB traded down $0.23 during midday trading on Wednesday, hitting $40.69. The company's stock had a trading volume of 20,273,077 shares, compared to its average volume of 19,992,023. 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 Corporation has a one year low of $5.74 and a one year high of $53.44. The stock has a market capitalization of $19.51 billion, a price-to-earnings ratio of -90.42 and a beta of 2.17. The company's fifty day simple moving average is $40.06 and its two-hundred day simple moving average is $28.60.

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