Rocket Lab Corporation $RKLB is Caitong International Asset Management Co. Ltd's 4th Largest Position

Key Points

• Caitong International Asset Management massively increased its Rocket Lab stake by 19,447.5% in Q4, making RKLB its 4th largest position and about 5.2% of its portfolio.
• Insiders have been selling shares, including Director Alexander R. Slusky and CFO Adam C. Spice, with total insider sales reaching 573,515 shares worth $76.4 million over the last three months.
• Rocket Lab recently reported Q1 revenue of $200.35 million, topping estimates and up 63.4% year over year, while also drawing attention from analysts who currently rate the stock Moderate Buy.

Caitong International Asset Management Co. Ltd boosted its stake in Rocket Lab Corporation (NASDAQ:RKLB - Free Report) by 19,447.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 307,873 shares of the rocket manufacturer's stock after purchasing an additional 306,298 shares during the period. Rocket Lab comprises approximately 5.2% of Caitong International Asset Management Co. Ltd's portfolio, making the stock its 4th largest position. Caitong International Asset Management Co. Ltd owned 0.06% of Rocket Lab worth $21,477,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Aventura Private Wealth LLC purchased a new position in shares of Rocket Lab during the fourth quarter worth $25,000. Mcguire Capital Advisors Inc. purchased a new stake in shares of Rocket Lab in the 4th quarter valued at $27,000. Zions Bancorporation National Association UT acquired a new position in Rocket Lab during the 4th quarter worth about $28,000. EverSource Wealth Advisors LLC boosted its holdings in Rocket Lab by 109.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 796 shares of the rocket manufacturer's stock valued at $28,000 after acquiring an additional 416 shares during the period. Finally, Gordian Capital Singapore Pte Ltd purchased a new position in Rocket Lab during the 4th quarter valued at about $29,000. Hedge funds and other institutional investors own 71.78% of the company's stock.

Insider Activity

In other Rocket Lab news, Director Alexander R. Slusky sold 100,000 shares of the business's stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $118.08, for a total transaction of $11,808,000.00. Following the completion of the transaction, the director owned 434,675 shares in the company, valued at $51,326,424. The trade was a 18.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Adam C. Spice sold 62,744 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $142.57, for a total transaction of $8,945,412.08. Following the completion of the sale, the chief financial officer directly owned 983,049 shares in the company, valued at approximately $140,153,295.93. This represents a 6.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 573,515 shares of company stock worth $76,412,122 over the last three months. Insiders own 8.40% of the company's stock.

Rocket Lab Price Performance

Shares of NASDAQ RKLB opened at $107.24 on Friday. The stock's 50-day moving average is $105.58 and its two-hundred day moving average is $83.31. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.47 and a quick ratio of 4.02. Rocket Lab Corporation has a 1-year low of $27.84 and a 1-year high of $151.00. The company has a market cap of $62.07 billion, a price-to-earnings ratio of -335.12 and a beta of 2.49.

Rocket Lab (NASDAQ:RKLB - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The rocket manufacturer reported ($0.07) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.07). Rocket Lab had a negative return on equity of 11.72% and a negative net margin of 26.87%.The business had revenue of $200.35 million during the quarter, compared to analysts' expectations of $189.65 million. During the same quarter last year, the business posted ($0.12) EPS. The business's quarterly revenue was up 63.4% compared to the same quarter last year. Analysts forecast that Rocket Lab Corporation will post -0.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

RKLB has been the topic of a number of recent research reports. Wells Fargo & Company assumed coverage on shares of Rocket Lab in a research note on Wednesday, April 1st. They set an "equal weight" rating and a $60.00 price target on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Rocket Lab in a research note on Tuesday, April 21st. KGI Securities initiated coverage on shares of Rocket Lab in a report on Thursday, June 11th. They issued a "neutral" rating and a $105.00 price objective for the company. Roth Mkm upped their target price on shares of Rocket Lab from $90.00 to $100.00 and gave the stock a "buy" rating in a research note on Friday, April 17th. Finally, New Street Research started coverage on shares of Rocket Lab in a report on Wednesday, May 13th. They set a "buy" rating and a $150.00 target price on the stock. Three research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $102.76.

Rocket Lab News Roundup

Here are the key news stories impacting Rocket Lab this week:

• Positive Sentiment: Rocket Lab is being added to the Nasdaq-100, a move that could bring steady institutional buying from passive funds and ETFs tracking the index. Why Rocket Lab’s Nasdaq-100 Moment Could Change the Story
• Positive Sentiment: The company passed a key SDA review, supporting the credibility of its space systems and defense business expansion. Rocket Lab (RKLB) Passes Key SDA Review As Nasdaq 100 Inclusion Reshapes Its Story
• Positive Sentiment: Recent commentary continues to highlight Rocket Lab’s strong fundamentals, including record quarterly revenue and a large backlog, which support the long-term growth narrative. Rocket Lab (RKLB) Stock Falls 30% Despite Record Q1 Results and Nasdaq-100 Entry
• Neutral Sentiment: Analyst and media commentary continues to frame RKLB as a high-growth space stock with meaningful upside, but also a relatively rich valuation after a sharp run. Price Prediction: Rocket Lab Will Hit $150 on This Date
• Negative Sentiment: SVP Arjun Kampani sold 88,000 shares worth about $9.5 million, and the insider sale has added to profit-taking concerns. Rocket Lab NASDAQ: RKLB SVP Sells 88,000 Shares

Rocket Lab Company Profile

Rocket Lab is an aerospace company that provides launch services, spacecraft, and space systems for commercial and government customers. The company's primary launch vehicle is Electron, a small-lift orbital rocket designed to deploy small satellites and rideshare payloads to low Earth orbit. Rocket Lab also develops and manufactures the Rutherford engine, noted for its electric-pump-fed design and additive-manufactured components, which powers Electron and supports the company's propulsion capabilities.

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