Rocket Lab Corporation $RKLB Stock Bought by Ashton Thomas Private Wealth LLC

Key Points

• Ashton Thomas Private Wealth increased its Rocket Lab stake by 257.6% in the third quarter, adding 10,624 shares to reach 14,748 shares valued at about $1.03 million.
• Rocket Lab reported quarterly revenue of $267.8 million, above expectations, and its backlog reached a record $3.57 billion; however, its $0.12-per-share loss was wider than analysts expected.
• Neutron’s first launch is expected no earlier than 2027, delaying a key growth catalyst. Analysts’ average rating is “Moderate Buy,” with an average price target of $100.10.

Ashton Thomas Private Wealth LLC lifted its holdings in shares of Rocket Lab Corporation (NASDAQ:RKLB - Free Report) by 257.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 14,748 shares of the rocket manufacturer's stock after purchasing an additional 10,624 shares during the period. Ashton Thomas Private Wealth LLC's holdings in Rocket Lab were worth $1,028,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. BlackRock Inc. purchased a new position in Rocket Lab in the 2nd quarter worth $4,124,970,000. Bank of America Corp DE purchased a new stake in Rocket Lab during the second quarter valued at about $437,280,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Rocket Lab by 14.8% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,737,451 shares of the rocket manufacturer's stock valued at $278,262,000 after buying an additional 352,094 shares during the period. Bank of New York Mellon Corp purchased a new stake in Rocket Lab during the second quarter valued at about $245,764,000. Finally, Amundi grew its stake in shares of Rocket Lab by 22.2% during the second quarter. Amundi now owns 2,180,748 shares of the rocket manufacturer's stock valued at $221,673,000 after buying an additional 396,639 shares during the last quarter. Institutional investors own 71.78% of the company's stock.

Rocket Lab Price Performance

RKLB stock opened at $62.71 on Wednesday. The stock has a market capitalization of $37.52 billion, a price-to-earnings ratio of -174.19 and a beta of 3.15. The firm's 50-day moving average price is $62.42 and its two-hundred day moving average price is $78.68. The company has a current ratio of 5.48, a quick ratio of 4.98 and a debt-to-equity ratio of 0.01. Rocket Lab Corporation has a 12-month low of $37.57 and a 12-month high of $151.00.

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

Trending Headlines about Rocket Lab

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

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Needham & Company LLC reiterated a "buy" rating and issued a $120.00 price objective on shares of Rocket Lab in a report on Friday, October 16th. TD Cowen restated a "buy" rating and set a $90.00 target price on shares of Rocket Lab in a report on Thursday, October 15th. Roth Capital restated a "buy" rating on shares of Rocket Lab in a research report on Thursday, October 15th. Cantor Fitzgerald decreased their price target on Rocket Lab from $122.00 to $111.00 and set an "overweight" rating on the stock in a research note on Tuesday. Finally, Berenberg Bank started coverage on Rocket Lab in a research note on Wednesday, September 2nd. They issued a "buy" rating and a $83.00 price target on the stock. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $100.10.

Insiders Place Their Bets

In other news, CFO Adam Spice sold 140,157 shares of Rocket Lab 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 sale, the chief financial officer directly owned 1,155,967 shares in the company, valued at approximately $61,023,497.93. This trade represents a 10.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Nina Armagno sold 10,926 shares of the business's stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $52.78, for a total value of $576,674.28. Following the transaction, the director directly owned 100,496 shares in the company, valued at $5,304,178.88. This trade represents a 9.81% 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. In the last quarter, insiders have sold 551,832 shares of company stock worth $34,940,037. Insiders own 8.40% of the company's stock.

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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