FORA Capital LLC Buys 29,574 Shares of Rocket Lab Corporation $RKLB

Key Points

• FORA Capital LLC increased its position in Rocket Lab Corporation (NASDAQ:RKLB) by 13.0%, now owning approximately 256,832 shares valued at about $4.59 million.
• Institutional ownership in Rocket Lab stands at 71.78%, with significant increases from several firms, including Vanguard Group and Invesco Ltd..
• Rocket Lab's recent quarterly earnings showed a miss in EPS expectations at ($0.13), despite a revenue increase of 35.9% year-over-year, totaling $144.5 million.

FORA Capital LLC grew its position in Rocket Lab Corporation (NASDAQ:RKLB - Free Report) by 13.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 256,832 shares of the rocket manufacturer's stock after acquiring an additional 29,574 shares during the period. FORA Capital LLC owned 0.06% of Rocket Lab worth $4,592,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Rocket Lab by 10.6% in the 1st quarter. Vanguard Group Inc. now owns 40,029,546 shares of the rocket manufacturer's stock worth $715,728,000 after purchasing an additional 3,833,969 shares in the last quarter. Two Sigma Advisers LP acquired a new position in shares of Rocket Lab in the fourth quarter valued at approximately $72,623,000. BNP Paribas Financial Markets bought a new position in Rocket Lab in the 4th quarter valued at approximately $56,977,000. Two Sigma Investments LP acquired a new stake in Rocket Lab during the 4th quarter worth approximately $47,074,000. Finally, Driehaus Capital Management LLC bought a new stake in Rocket Lab during the 4th quarter worth approximately $35,987,000. Institutional investors and hedge funds own 71.78% of the company's stock.

Insider Buying and Selling

In related news, insider Frank Klein sold 2,546 shares of the firm's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $30.00, for a total transaction of $76,380.00. Following the transaction, the insider directly owned 1,365,826 shares of the company's stock, valued at $40,974,780. This trade represents a 0.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Merline Saintil sold 6,353 shares of the business's stock in a transaction dated 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 transaction, the director owned 419,569 shares in the company, valued at approximately $14,005,213.22. The trade was a 1.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,123,149 shares of company stock valued at $29,450,894. 11.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Citigroup reaffirmed a "buy" rating and set a $50.00 price target (up previously from $33.00) on shares of Rocket Lab in a research note on Monday, July 14th. Stifel Nicolaus raised their target price on Rocket Lab from $34.00 to $55.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Roth Capital lifted their target price on Rocket Lab from $25.00 to $35.00 and gave the stock a "buy" rating in a report on Wednesday, May 28th. Bank of America increased their price target on Rocket Lab from $30.00 to $50.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Finally, The Goldman Sachs Group initiated coverage on Rocket Lab in a research report on Monday, June 30th. They set a "neutral" rating and a $27.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, Rocket Lab presently has an average rating of "Moderate Buy" and a consensus price target of $42.27.

Rocket Lab Price Performance

RKLB stock traded up $1.66 during midday trading on Thursday, reaching $47.91. 16,898,439 shares of the company's stock traded hands, compared to its average volume of 20,398,858. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.33 and a current ratio of 2.67. The firm's fifty day moving average price is $42.36 and its 200-day moving average price is $29.31. Rocket Lab Corporation has a 52 week low of $5.74 and a 52 week high of $53.44.

Rocket Lab (NASDAQ:RKLB - Get Free Report) last issued its quarterly earnings data 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 business 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 firm's quarterly revenue was up 35.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.08) earnings per share. Rocket Lab has set its Q3 2025 guidance at EPS. On average, sell-side analysts predict that Rocket Lab Corporation will post -0.38 EPS for the current fiscal year.

About Rocket Lab

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.