Royal Bank of Canada Grows Position in Rocket Lab Corporation $RKLB

Key Points

• The Royal Bank of Canada increased its stake in Rocket Lab Corporation by 6.4%, holding approximately $38.06 million worth of shares.
• Rocket Lab reported a negative EPS of ($0.13) for the last quarter, missing estimates, despite revenue of $144.5 million which was above expectations.
• Insider trading showed significant activity, with insiders selling over 1 million shares of Rocket Lab stock in the past ninety days.

Royal Bank of Canada lifted its holdings in shares of Rocket Lab Corporation (NASDAQ:RKLB - Free Report) by 6.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,128,536 shares of the rocket manufacturer's stock after purchasing an additional 128,907 shares during the period. Royal Bank of Canada owned 0.47% of Rocket Lab worth $38,057,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Allworth Financial LP grew its holdings in Rocket Lab by 4.0% during the 1st quarter. Allworth Financial LP now owns 11,888 shares of the rocket manufacturer's stock worth $213,000 after acquiring an additional 458 shares during the period. Atria Wealth Solutions Inc. grew its stake in Rocket Lab by 1.4% during the first quarter. Atria Wealth Solutions Inc. now owns 35,085 shares of the rocket manufacturer's stock worth $627,000 after purchasing an additional 500 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its stake in Rocket Lab by 1.5% in the first quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 45,237 shares of the rocket manufacturer's stock valued at $809,000 after buying an additional 686 shares during the period. Versant Capital Management Inc lifted its stake in Rocket Lab by 118.1% in the first quarter. Versant Capital Management Inc now owns 1,588 shares of the rocket manufacturer's stock valued at $28,000 after buying an additional 860 shares during the period. Finally, National Bank of Canada FI boosted its holdings in shares of Rocket Lab by 39.8% during the 1st quarter. National Bank of Canada FI now owns 3,118 shares of the rocket manufacturer's stock worth $56,000 after buying an additional 887 shares in the last quarter. Institutional investors own 71.78% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on RKLB shares. Needham & Company LLC reiterated a "buy" rating and issued a $55.00 price objective on shares of Rocket Lab in a research note on Wednesday. The Goldman Sachs Group assumed coverage on shares of Rocket Lab in a research report on Monday, June 30th. They issued a "neutral" rating and a $27.00 price target for the company. Craig Hallum started coverage on shares of Rocket Lab in a report on Monday, July 28th. They set a "hold" rating and a $51.00 price objective for the company. Bank of America raised their price target on shares of Rocket Lab from $30.00 to $50.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Finally, KeyCorp lifted their price target on Rocket Lab from $40.00 to $50.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $42.27.

Insider Buying and Selling at Rocket Lab

In other news, Director Merline Saintil sold 6,353 shares of Rocket Lab stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $33.38, for a total value of $212,063.14. Following the completion of the transaction, the director directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Frank Klein sold 2,546 shares of Rocket Lab stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $30.00, for a total value 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. The trade was a 0.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,040,446 shares of company stock valued at $27,247,305 in the last three months. 11.90% of the stock is owned by company insiders.

Rocket Lab Stock Performance

Shares of NASDAQ:RKLB traded up $2.85 during mid-day trading on Friday, reaching $45.84. The company had a trading volume of 17,310,586 shares, compared to its average volume of 21,499,438. The company's 50-day moving average price is $43.93 and its 200-day moving average price is $30.14. Rocket Lab Corporation has a one year low of $5.74 and a one year high of $53.44. The firm has a market cap of $21.97 billion, a price-to-earnings ratio of -101.87 and a beta of 2.17. The company has a current ratio of 2.67, a quick ratio of 2.33 and a debt-to-equity ratio of 0.60.

Rocket Lab (NASDAQ:RKLB - Get Free Report) last issued its earnings results on Thursday, August 7th. The rocket manufacturer reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.06). The firm had revenue of $144.50 million during the quarter, compared to the consensus estimate of $135.42 million. Rocket Lab had a negative net margin of 45.87% and a negative return on equity of 48.14%. The business's quarterly revenue was up 35.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.08) earnings per share. Rocket Lab has set its Q3 2025 guidance at EPS. As a group, equities research analysts anticipate that Rocket Lab Corporation will post -0.38 EPS for the current fiscal year.

Rocket Lab 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.