Rocket Lab Corporation $RKLB Shares Acquired by Terra Nova Asset Management LLC

Key Points

• Terra Nova Asset Management increased its Rocket Lab stake by 69.9% in the first quarter, buying 13,100 additional shares and lifting its holdings to 31,850 shares worth about $2.05 million.
• Rocket Lab is set to be added to the Nasdaq-100, which could trigger more steady buying from index funds and ETFs, and it also recently passed a key SDA review supporting its defense-space expansion.
• Analysts remain broadly constructive, with a consensus rating of Moderate Buy and an average price target of $102.76, while the company reported strong quarterly revenue growth of 63.4% year over year.

Terra Nova Asset Management LLC boosted its stake in Rocket Lab Corporation (NASDAQ:RKLB - Free Report) by 69.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,850 shares of the rocket manufacturer's stock after buying an additional 13,100 shares during the period. Rocket Lab accounts for 1.5% of Terra Nova Asset Management LLC's portfolio, making the stock its 28th biggest holding. Terra Nova Asset Management LLC's holdings in Rocket Lab were worth $2,045,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Diversified Trust Co acquired a new stake in shares of Rocket Lab in the 1st quarter worth approximately $2,123,000. Thompson Davis & CO. Inc. increased its stake in shares of Rocket Lab by 3.2% during the first quarter. Thompson Davis & CO. Inc. now owns 7,950 shares of the rocket manufacturer's stock valued at $511,000 after acquiring an additional 250 shares during the period. Purpose Unlimited Inc. acquired a new position in shares of Rocket Lab during the fourth quarter valued at approximately $321,000. Hsbc Holdings PLC increased its stake in shares of Rocket Lab by 613.9% during the fourth quarter. Hsbc Holdings PLC now owns 1,570,608 shares of the rocket manufacturer's stock valued at $110,666,000 after acquiring an additional 1,350,602 shares during the period. Finally, Rockefeller Capital Management L.P. raised its holdings in Rocket Lab by 2.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 207,466 shares of the rocket manufacturer's stock worth $14,473,000 after purchasing an additional 4,083 shares in the last quarter. Institutional investors own 71.78% of the company's stock.

Rocket Lab News Summary

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on RKLB shares. Clear Str upgraded Rocket Lab to a "strong-buy" rating in a research report on Wednesday, March 18th. KGI Securities assumed coverage on 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 raised their target price on Rocket Lab from $90.00 to $100.00 and gave the company a "buy" rating in a research note on Friday, April 17th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Rocket Lab in a report on Tuesday, April 21st. Finally, Needham & Company LLC boosted their price target on shares of Rocket Lab from $95.00 to $120.00 and gave the stock a "buy" rating in a research report on Monday, May 11th. Three investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $102.76.

Rocket Lab Stock Performance

Rocket Lab stock opened at $107.24 on Monday. The firm has a market cap of $62.07 billion, a price-to-earnings ratio of -335.12 and a beta of 2.48. Rocket Lab Corporation has a 1 year low of $27.84 and a 1 year high of $151.00. The firm's 50 day moving average price is $105.58 and its two-hundred day moving average price is $83.61. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.02 and a current ratio of 4.47.

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

Insider Buying and Selling at Rocket Lab

In other news, SVP Arjun Kampani sold 88,000 shares of the company's stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $107.98, for a total transaction of $9,502,240.00. Following the completion of the sale, the senior vice president directly owned 264,705 shares of the company's stock, valued at $28,582,845.90. This represents a 24.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Adam C. Spice sold 62,744 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $142.57, for a total value of $8,945,412.08. Following the completion of the transaction, the chief financial officer owned 983,049 shares of the company's stock, valued at $140,153,295.93. This trade represents a 6.00% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 sold a total of 573,515 shares of company stock valued at $76,412,122 over the last 90 days. 8.40% of the stock is owned by insiders.

Rocket Lab 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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