Rafferty Asset Management LLC Reduces Position in Rocket Lab Corporation $RKLB

Key Points

• Rafferty Asset Management LLC reduced its holdings in Rocket Lab Corporation by 9.8%, now owning 80,847 shares valued at approximately $1.4 million.
• Several institutional investors, including FORA Capital LLC and Comerica Bank, have either increased or established new positions in Rocket Lab during the first quarter.
• Rocket Lab reported a revenue of $144.50 million for the last quarter, surpassing expectations, but incurred a loss of ($0.13) EPS, missing consensus estimates.

Rafferty Asset Management LLC cut its holdings in shares of Rocket Lab Corporation (NASDAQ:RKLB - Free Report) by 9.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 80,847 shares of the rocket manufacturer's stock after selling 8,739 shares during the quarter. Rafferty Asset Management LLC's holdings in Rocket Lab were worth $1,446,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. FORA Capital LLC lifted its holdings in Rocket Lab by 13.0% during the first quarter. FORA Capital LLC now owns 256,832 shares of the rocket manufacturer's stock valued at $4,592,000 after purchasing an additional 29,574 shares during the last quarter. Comerica Bank increased its position in shares of Rocket Lab by 2.5% during the first quarter. Comerica Bank now owns 370,222 shares of the rocket manufacturer's stock valued at $6,620,000 after buying an additional 8,858 shares during the period. Freedom Investment Management Inc. bought a new stake in shares of Rocket Lab during the first quarter valued at about $337,000. Quantitative Investment Management LLC bought a new stake in shares of Rocket Lab during the first quarter valued at about $3,809,000. Finally, Jump Financial LLC bought a new stake in shares of Rocket Lab during the first quarter valued at about $5,239,000. 71.78% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Rocket Lab

In other Rocket Lab news, Director Matthew Ocko sold 820,000 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $26.01, for a total transaction of $21,328,200.00. Following the transaction, the director directly owned 1,083,053 shares in the company, valued at $28,170,208.53. This trade represents a 43.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Merline Saintil sold 6,353 shares of the stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $33.38, for a total transaction of $212,063.14. Following the transaction, the director owned 419,569 shares in the company, valued at $14,005,213.22. The trade was a 1.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,040,446 shares of company stock valued at $27,247,305 over the last ninety days. Insiders own 11.90% of the company's stock.

Rocket Lab Stock Up 1.4%

RKLB stock opened at $48.60 on Monday. The company has a current ratio of 2.67, a quick ratio of 2.33 and a debt-to-equity ratio of 0.60. The company's 50 day moving average is $42.73 and its 200 day moving average is $29.48. The stock has a market cap of $23.30 billion, a price-to-earnings ratio of -108.00 and a beta of 2.17. Rocket Lab Corporation has a 1-year low of $5.74 and a 1-year high of $53.44.

Rocket Lab (NASDAQ:RKLB - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The rocket manufacturer reported ($0.13) EPS for the quarter, missing analysts' consensus estimates 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 business had revenue of $144.50 million for the quarter, compared to the consensus estimate of $135.42 million. During the same quarter in the previous year, the business earned ($0.08) earnings per share. The firm's revenue was up 35.9% on a year-over-year basis. Rocket Lab has set its Q3 2025 guidance at EPS. Sell-side analysts predict that Rocket Lab Corporation will post -0.38 EPS for the current fiscal year.

Analyst Ratings Changes

RKLB has been the topic of several analyst reports. KeyCorp upped their price target on Rocket Lab from $40.00 to $50.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. The Goldman Sachs Group initiated coverage on Rocket Lab in a research report on Monday, June 30th. They set a "neutral" rating and a $27.00 price target on the stock. Roth Capital upped their price target on Rocket Lab from $25.00 to $35.00 and gave the company a "buy" rating in a research report on Wednesday, May 28th. Citigroup reiterated a "buy" rating and set a $50.00 price target (up from $33.00) on shares of Rocket Lab in a research report on Monday, July 14th. Finally, Craig Hallum began coverage on shares of Rocket Lab in a research report on Monday, July 28th. They issued a "hold" rating and a $51.00 price objective on the stock. One investment 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's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $42.27.

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.

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