Rocket Lab Corporation (NASDAQ:RKLB) Position Increased by Cetera Investment Advisers

Cetera Investment Advisers raised its holdings in shares of Rocket Lab Corporation (NASDAQ:RKLB - Free Report) by 70.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 53,021 shares of the rocket manufacturer's stock after buying an additional 21,902 shares during the period. Cetera Investment Advisers' holdings in Rocket Lab were worth $948,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Allworth Financial LP boosted its holdings in Rocket Lab by 4.0% during the first quarter. Allworth Financial LP now owns 11,888 shares of the rocket manufacturer's stock worth $213,000 after buying an additional 458 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in Rocket Lab by 3.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 21,747 shares of the rocket manufacturer's stock worth $554,000 after buying an additional 696 shares in the last quarter. Versant Capital Management Inc boosted its stake in Rocket Lab by 118.1% in the 1st quarter. Versant Capital Management Inc now owns 1,588 shares of the rocket manufacturer's stock worth $28,000 after purchasing an additional 860 shares during the period. WJ Wealth Management LLC boosted its stake in Rocket Lab by 10.0% in the 1st quarter. WJ Wealth Management LLC now owns 10,160 shares of the rocket manufacturer's stock worth $182,000 after purchasing an additional 920 shares during the period. Finally, Farther Finance Advisors LLC boosted its stake in 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 purchasing an additional 1,226 shares during the period. 71.78% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on RKLB. Citigroup reaffirmed a "buy" rating and issued a $50.00 price objective (up previously from $33.00) on shares of Rocket Lab in a research note on Monday, July 14th. Cantor Fitzgerald raised their price objective on shares of Rocket Lab from $35.00 to $54.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Craig Hallum began coverage on shares of Rocket Lab in a research note on Monday, July 28th. They issued a "hold" rating and a $51.00 price objective for the company. Bank of America raised their price objective on shares of Rocket Lab from $30.00 to $50.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Finally, Stifel Nicolaus raised their price objective on shares of Rocket Lab from $34.00 to $55.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Rocket Lab presently has a consensus rating of "Moderate Buy" and a consensus price target of $42.27.

Insider Buying and Selling at Rocket Lab

In related news, Director Matthew Ocko sold 820,000 shares of Rocket Lab stock in a transaction on Friday, June 13th. The shares were sold at an average price of $26.01, for a total value of $21,328,200.00. Following the completion of the sale, the director owned 1,083,053 shares of the company's stock, valued at approximately $28,170,208.53. The trade was a 43.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Merline Saintil sold 6,353 shares of Rocket Lab stock in a transaction 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 completion of the sale, the director directly owned 419,569 shares of the company's stock, 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. Insiders sold a total of 1,130,995 shares of company stock worth $29,686,039 in the last 90 days. 11.90% of the stock is currently owned by company insiders.

Rocket Lab Trading Down 3.5%

Shares of NASDAQ:RKLB opened at $43.43 on Wednesday. The firm has a fifty day moving average of $38.26 and a two-hundred day moving average of $28.02. The firm has a market capitalization of $20.04 billion, a P/E ratio of -96.51 and a beta of 2.17. Rocket Lab Corporation has a 12-month low of $5.03 and a 12-month high of $53.44. The company has a quick ratio of 1.72, a current ratio of 2.67 and a debt-to-equity ratio of 0.60.

Rocket Lab (NASDAQ:RKLB - Get Free Report) last issued its 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 analyst estimates of $135.42 million. Rocket Lab had a negative net margin of 45.87% and a negative return on equity of 48.14%. The company's quarterly revenue was up 35.9% on a year-over-year basis. During the same period last year, the business earned ($0.08) EPS. On average, equities analysts expect that Rocket Lab Corporation will post -0.38 EPS for the current fiscal year.

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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