Quantitative Investment Management LLC Takes $3.81 Million Position in Rocket Lab Corporation $RKLB

Key Points

• Quantitative Investment Management LLC has acquired a new stake of 213,056 shares in Rocket Lab Corporation, valued at approximately $3.8 million, as reported in their recent SEC filing.
• Several other hedge funds have significantly increased their positions in Rocket Lab, with Mizuho Markets Americas LLC leading with a 155.7% boost, bringing their total ownership to 785,471 shares valued at about $14 million.
• Rocket Lab's most recent earnings report showed a 35.9% year-over-year revenue increase to $144.5 million, despite missing analysts' earnings per share estimates.

Quantitative Investment Management LLC bought a new position in Rocket Lab Corporation (NASDAQ:RKLB - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The firm bought 213,056 shares of the rocket manufacturer's stock, valued at approximately $3,809,000.

Several other institutional investors have also added to or reduced their stakes in the business. Versant Capital Management Inc raised its stake in shares of 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 acquiring an additional 860 shares during the last quarter. MassMutual Private Wealth & Trust FSB purchased a new stake in Rocket Lab in the 1st quarter worth approximately $29,000. Farther Finance Advisors LLC grew its position in shares of Rocket Lab by 181.1% in the 1st quarter. Farther Finance Advisors LLC now owns 1,903 shares of the rocket manufacturer's stock worth $35,000 after buying an additional 1,226 shares during the last quarter. Spectrum Wealth Counsel LLC increased its stake in shares of Rocket Lab by 100.0% during the first quarter. Spectrum Wealth Counsel LLC now owns 2,000 shares of the rocket manufacturer's stock valued at $36,000 after buying an additional 1,000 shares during the period. Finally, Quarry LP bought a new position in shares of Rocket Lab during the fourth quarter valued at approximately $48,000. 71.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on RKLB. The Goldman Sachs Group initiated coverage on shares of Rocket Lab in a report on Monday, June 30th. They issued a "neutral" rating and a $27.00 price objective for the company. Stifel Nicolaus raised their target price on Rocket Lab from $34.00 to $55.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. KeyCorp upped their price target on Rocket Lab from $40.00 to $50.00 and gave the stock an "overweight" rating in a research note on Friday, August 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 report on Wednesday, July 16th. Finally, Craig Hallum initiated coverage on shares of Rocket Lab in a research report on Monday, July 28th. They issued a "hold" rating and a $51.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $42.27.

Insiders Place Their Bets

In other Rocket Lab news, insider Frank Klein sold 44,885 shares of the company's stock in a transaction that occurred on Friday, May 30th. The stock was 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 directly owned 1,370,190 shares in the company, valued at $36,529,265.40. This represents a 3.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Merline Saintil sold 6,353 shares of the business's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $33.38, for a total transaction of $212,063.14. Following the completion of the sale, the director owned 419,569 shares in the company, valued at approximately $14,005,213.22. The trade was a 1.49% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,123,149 shares of company stock worth $29,450,894. 11.90% of the stock is currently owned by insiders.

Rocket Lab Stock Performance

Shares of NASDAQ:RKLB traded down $1.88 during midday trading on Wednesday, reaching $46.25. 16,637,703 shares of the company's stock traded hands, compared to its average volume of 20,159,896. Rocket Lab Corporation has a one year low of $5.74 and a one year high of $53.44. The stock has a 50 day moving average of $41.59 and a 200 day moving average of $29.08. The company has a market cap of $22.17 billion, a price-to-earnings ratio of -102.78 and a beta of 2.17. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.33 and a current ratio of 2.67.

Rocket Lab (NASDAQ:RKLB - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The rocket manufacturer reported ($0.13) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.06). The company had revenue of $144.50 million for 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 business's revenue was up 35.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.08) EPS. Rocket Lab has set its Q3 2025 guidance at EPS. As a group, equities research analysts anticipate that Rocket Lab Corporation will post -0.38 EPS for the current fiscal 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.