Rocket Lab Corporation $RKLB Shares Bought by Candriam S.C.A.

Key Points

• Candriam S.C.A. increased its Rocket Lab stake by 47% in Q3, buying 16,518 shares to hold 51,675 shares valued at approximately $3.6 million.
• Several other institutional investors also expanded their positions during the quarter; institutional investors collectively own 71.78% of Rocket Lab stock.
• Rocket Lab’s Q3 revenue rose 72.7% year over year to $267.8 million and its backlog reached a record $3.57 billion, but its per-share loss was wider than expected, and Neutron’s first launch is now anticipated no earlier than 2027.

Candriam S.C.A. raised its position in Rocket Lab Corporation (NASDAQ:RKLB - Free Report) by 47.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 51,675 shares of the rocket manufacturer's stock after buying an additional 16,518 shares during the quarter. Candriam S.C.A.'s holdings in Rocket Lab were worth $3,614,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. J. Derek Lewis & Associates Inc. grew its position in Rocket Lab by 54.1% during the 3rd quarter. J. Derek Lewis & Associates Inc. now owns 5,160 shares of the rocket manufacturer's stock worth $360,000 after purchasing an additional 1,812 shares during the last quarter. Ethic Inc. increased its stake in Rocket Lab by 14.3% in the third quarter. Ethic Inc. now owns 103,795 shares of the rocket manufacturer's stock valued at $7,232,000 after purchasing an additional 12,989 shares during the period. StoneX Group Inc. raised its holdings in shares of Rocket Lab by 278.6% in the third quarter. StoneX Group Inc. now owns 22,334 shares of the rocket manufacturer's stock valued at $1,479,000 after buying an additional 16,435 shares during the last quarter. Kornitzer Capital Management Inc. KS raised its holdings in shares of Rocket Lab by 9.1% in the third quarter. Kornitzer Capital Management Inc. KS now owns 84,648 shares of the rocket manufacturer's stock valued at $5,898,000 after buying an additional 7,032 shares during the last quarter. Finally, Alps Advisors Inc. raised its holdings in shares of Rocket Lab by 7.2% in the third quarter. Alps Advisors Inc. now owns 6,755 shares of the rocket manufacturer's stock valued at $471,000 after buying an additional 451 shares during the last quarter. Hedge funds and other institutional investors own 71.78% of the company's stock.

More Rocket Lab News

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

• Positive Sentiment: Q3 revenue rose 72.7% year over year to $267.8 million, beating estimates. Backlog expanded 52% sequentially to a record $3.57 billion, reinforcing demand for Rocket Lab’s launch and space-systems business. Q3 results and outlook
• Positive Sentiment: Fourth-quarter revenue guidance of $270 million to $290 million came in above analyst expectations. The company also secured more than $515 million in Neutron launch contracts during Q3, bringing the rocket’s backlog to 16 missions and raising its base launch price to $70 million. Neutron launch contracts
• Neutral Sentiment: Some analysts remain constructive, citing Rocket Lab’s competitive position and growing backlog, although several lowered price targets after the results. Analyst commentary
• Negative Sentiment: The GAAP loss of $0.12 per share was wider than the roughly $0.07 loss analysts expected, while the company continued to forecast an adjusted EBITDA loss for Q4. The earnings miss appears to have overshadowed revenue growth and contributed to pressure on the shares. Q3 earnings reaction
• Negative Sentiment: Neutron’s first launch is now expected no earlier than 2027, delaying a key future growth catalyst and adding uncertainty around development costs and execution. Neutron delay and investor reaction

Insider Buying and Selling

In other news, SVP Arjun Kampani sold 6,034 shares of the stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $66.65, for a total transaction of $402,166.10. Following the completion of the transaction, the senior vice president directly owned 250,917 shares of the company's stock, valued at approximately $16,723,618.05. This represents a 2.35% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Adam C. Spice sold 140,157 shares of the stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $52.79, for a total value of $7,398,888.03. Following the transaction, the chief financial officer directly owned 1,155,967 shares of the company's stock, valued at approximately $61,023,497.93. This trade represents a 10.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 551,832 shares of company stock worth $34,940,037 in the last three months. Company insiders own 8.40% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Citigroup reiterated a "market outperform" rating on shares of Rocket Lab in a research note on Friday, October 16th. Raymond James Financial started coverage on Rocket Lab in a report on Friday, September 11th. They issued an "outperform" rating and a $80.00 target price on the stock. Barclays cut their price target on Rocket Lab from $85.00 to $82.00 and set an "overweight" rating for the company in a research note on Tuesday. Bank of America decreased their price target on Rocket Lab from $115.00 to $110.00 and set a "buy" rating for the company in a report on Monday, August 31st. Finally, TD Cowen reaffirmed a "buy" rating and set a $90.00 price target on shares of Rocket Lab in a report on Thursday, October 15th. Three analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $100.10.

Rocket Lab Stock Up 6.5%

Shares of NASDAQ:RKLB opened at $62.71 on Wednesday. Rocket Lab Corporation has a fifty-two week low of $37.57 and a fifty-two week high of $151.00. The company has a quick ratio of 4.98, a current ratio of 5.48 and a debt-to-equity ratio of 0.01. The firm's 50-day simple moving average is $62.42 and its 200-day simple moving average is $78.68. The company has a market cap of $37.52 billion, a price-to-earnings ratio of -174.19 and a beta of 3.15.

Rocket Lab (NASDAQ:RKLB - Get Free Report) last posted its quarterly earnings results on Monday, November 9th. The rocket manufacturer reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.05). The firm had revenue of $267.83 million for the quarter, compared to analysts' expectations of $257.21 million. Rocket Lab had a negative return on equity of 7.71% and a negative net margin of 25.73%. As a group, equities research analysts predict that Rocket Lab Corporation will post -0.20 earnings per share for the current year.

About Rocket Lab

Rocket Lab is a space company that provides launch services and spacecraft and satellite systems for commercial, civil, and national security customers. Founded in 2006 by Peter Beck, the company operates internationally, with headquarters in Long Beach, California, and launch operations in New Zealand and the United States. Its launch business centers on Electron, a small orbital rocket designed to carry satellites to space, and HASTE, a suborbital vehicle used for hypersonic test missions. Rocket Lab is also developing Neutron, a larger launch vehicle.

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