Rocket Lab Corporation (NASDAQ:RKLB) Shares Purchased by Invesco Ltd.

Invesco Ltd. grew its stake in shares of Rocket Lab Corporation (NASDAQ:RKLB - Free Report) by 56.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,738,250 shares of the rocket manufacturer's stock after acquiring an additional 1,343,518 shares during the quarter. Invesco Ltd. owned about 0.82% of Rocket Lab worth $66,840,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Rocket Lab by 10.6% during the first quarter. Vanguard Group Inc. now owns 40,029,546 shares of the rocket manufacturer's stock valued at $715,728,000 after acquiring an additional 3,833,969 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Rocket Lab by 9.5% during the fourth quarter. Northern Trust Corp now owns 3,227,617 shares of the rocket manufacturer's stock valued at $82,207,000 after acquiring an additional 281,339 shares in the last quarter. Two Sigma Advisers LP acquired a new position in shares of Rocket Lab during the fourth quarter valued at about $72,623,000. Westfield Capital Management Co. LP increased its holdings in shares of Rocket Lab by 2.6% during the first quarter. Westfield Capital Management Co. LP now owns 2,586,532 shares of the rocket manufacturer's stock valued at $46,247,000 after acquiring an additional 65,255 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new position in shares of Rocket Lab during the fourth quarter valued at about $56,977,000. Institutional investors and hedge funds own 71.78% of the company's stock.

Insider Buying and Selling

In other news, Director Merline Saintil sold 6,353 shares of the stock in a transaction that occurred 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 transaction, the director owned 419,569 shares in the company, valued at $14,005,213.22. This trade represents a 1.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 value of $21,328,200.00. Following the transaction, the director owned 1,083,053 shares in the company, valued at $28,170,208.53. This trade represents a 43.09% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,130,995 shares of company stock worth $29,686,039. 11.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently commented on RKLB. Bank of America upped their target price on Rocket Lab from $30.00 to $50.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. The Goldman Sachs Group began coverage on Rocket Lab in a research report on Monday, June 30th. They issued a "neutral" rating and a $27.00 target price on the stock. Stifel Nicolaus upped their target price on Rocket Lab from $34.00 to $55.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. Cantor Fitzgerald upped their target price on Rocket Lab from $35.00 to $54.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. Finally, Roth Capital upped their target price on Rocket Lab from $25.00 to $35.00 and gave the company a "buy" rating in a research report on Wednesday, May 28th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $42.27.

Rocket Lab Trading Up 3.4%

Rocket Lab stock opened at $44.27 on Friday. The company has a current ratio of 2.67, a quick ratio of 1.72 and a debt-to-equity ratio of 0.60. Rocket Lab Corporation has a 12 month low of $5.74 and a 12 month high of $53.44. The stock's 50 day simple moving average is $39.21 and its two-hundred day simple moving average is $28.32. The firm has a market cap of $20.43 billion, a PE ratio of -98.38 and a beta of 2.17.

Rocket Lab (NASDAQ:RKLB - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The rocket manufacturer reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.06). Rocket Lab had a negative return on equity of 48.14% and a negative net margin of 45.87%. The company had revenue of $144.50 million during the quarter, compared to analysts' expectations of $135.42 million. During the same quarter in the prior year, the company posted ($0.08) EPS. The company's revenue for the quarter was up 35.9% on a year-over-year basis. Analysts anticipate that Rocket Lab Corporation will post -0.38 earnings per share for the current 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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