Roman Butler Fullerton & Co. Has $350,000 Stock Holdings in Rocket Lab Corporation (NASDAQ:RKLB)

Roman Butler Fullerton & Co. lifted its position in Rocket Lab Corporation (NASDAQ:RKLB - Free Report) by 161.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,580 shares of the rocket manufacturer's stock after buying an additional 12,080 shares during the quarter. Roman Butler Fullerton & Co.'s holdings in Rocket Lab were worth $350,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of RKLB. Wellington Management Group LLP bought a new position in Rocket Lab during the fourth quarter worth $17,261,000. Van ECK Associates Corp increased its holdings in Rocket Lab by 26.9% in the 4th quarter. Van ECK Associates Corp now owns 166,369 shares of the rocket manufacturer's stock valued at $4,237,000 after buying an additional 35,293 shares during the period. SG Americas Securities LLC increased its holdings in Rocket Lab by 2,186.7% in the 1st quarter. SG Americas Securities LLC now owns 353,522 shares of the rocket manufacturer's stock valued at $6,321,000 after buying an additional 338,062 shares during the period. Empowered Funds LLC bought a new stake in Rocket Lab in the 4th quarter valued at $288,000. Finally, Raymond James Financial Inc. bought a new stake in Rocket Lab in the 4th quarter valued at $5,748,000. 71.78% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Stifel Nicolaus upped their target price on shares of Rocket Lab from $29.00 to $34.00 and gave the stock a "buy" rating in a report on Wednesday, May 28th. Cantor Fitzgerald upped their target price on shares of Rocket Lab from $29.00 to $35.00 and gave the stock an "overweight" rating in a report on Tuesday, June 10th. The Goldman Sachs Group upped their target price on shares of Rocket Lab from $14.35 to $16.00 and gave the stock a "neutral" rating in a report on Monday, May 12th. Morgan Stanley upped their target price on shares of Rocket Lab from $18.00 to $20.00 and gave the stock an "equal weight" rating in a report on Monday, March 10th. Finally, Roth Capital upped their target price on shares of Rocket Lab from $25.00 to $35.00 and gave the stock a "buy" rating in a report on Wednesday, May 28th. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Rocket Lab presently has a consensus rating of "Moderate Buy" and an average price target of $28.10.

Rocket Lab Price Performance

NASDAQ RKLB traded up $2.19 on Friday, hitting $30.04. 36,968,490 shares of the company were exchanged, compared to its average volume of 17,234,433. The firm has a 50 day moving average of $24.16 and a two-hundred day moving average of $23.83. The company has a market cap of $13.62 billion, a P/E ratio of -75.10 and a beta of 2.08. The company has a current ratio of 2.08, a quick ratio of 1.72 and a debt-to-equity ratio of 0.97. Rocket Lab Corporation has a 1-year low of $4.20 and a 1-year high of $33.34.

Rocket Lab (NASDAQ:RKLB - Get Free Report) last released its earnings results on Thursday, May 8th. The rocket manufacturer reported ($0.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.02). Rocket Lab had a negative net margin of 44.32% and a negative return on equity of 48.92%. The business had revenue of $122.57 million for the quarter, compared to analyst estimates of $120.74 million. During the same quarter in the previous year, the company posted ($0.09) earnings per share. The business's revenue for the quarter was up 32.1% on a year-over-year basis. On average, equities analysts predict that Rocket Lab Corporation will post -0.38 EPS for the current year.

Insider Transactions at Rocket Lab

In other news, insider Arjun Kampani sold 5,277 shares of Rocket Lab stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $29.97, for a total transaction of $158,151.69. Following the completion of the sale, the insider now owns 569,606 shares in the company, valued at $17,071,091.82. The trade was a 0.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Frank Klein sold 2,569 shares of Rocket Lab stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $29.97, for a total transaction of $76,992.93. Following the sale, the insider now owns 1,415,075 shares of the company's stock, valued at approximately $42,409,797.75. This represents a 0.18% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,118,289 shares of company stock worth $29,287,134 in the last quarter. 13.70% of the stock is owned by company insiders.

Rocket Lab Company Profile

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.