SLT Holdings LLC Takes Position in Rocket Lab Corporation $RKLB

Key Points

• SLT Holdings LLC acquired a new stake in Rocket Lab Corporation, purchasing 14,285 shares valued at approximately $511,000 in Q2 2023.
• Insider transactions revealed significant selling, including CFO Adam C. Spice selling 874,588 shares for nearly $42 million, reducing his ownership by 29.82%.
• Rocket Lab reported a 35.9% year-over-year increase in revenue, reaching $144.5 million for the last quarter, although it missed EPS estimates by $0.06.

SLT Holdings LLC purchased a new stake in shares of Rocket Lab Corporation (NASDAQ:RKLB - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 14,285 shares of the rocket manufacturer's stock, valued at approximately $511,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Rocket Lab by 10.6% during the 1st quarter. Vanguard Group Inc. now owns 40,029,546 shares of the rocket manufacturer's stock valued at $715,728,000 after acquiring an additional 3,833,969 shares during the last quarter. Kingstone Capital Partners Texas LLC bought a new position in shares of Rocket Lab in the 2nd quarter worth approximately $192,918,000. Invesco Ltd. lifted its stake in shares of Rocket Lab by 56.1% in the 1st quarter. Invesco Ltd. now owns 3,738,250 shares of the rocket manufacturer's stock worth $66,840,000 after purchasing an additional 1,343,518 shares during the period. Westfield Capital Management Co. LP lifted its stake in shares of Rocket Lab by 2.6% in the 1st quarter. Westfield Capital Management Co. LP now owns 2,586,532 shares of the rocket manufacturer's stock worth $46,247,000 after purchasing an additional 65,255 shares during the period. Finally, Royal Bank of Canada lifted its stake in shares of Rocket Lab by 6.4% in the 1st quarter. Royal Bank of Canada now owns 2,128,536 shares of the rocket manufacturer's stock worth $38,057,000 after purchasing an additional 128,907 shares during the period. Hedge funds and other institutional investors own 71.78% of the company's stock.

Insider Buying and Selling at Rocket Lab

In other Rocket Lab news, insider Frank Klein sold 4,286 shares of the stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $47.72, for a total transaction of $204,527.92. Following the completion of the sale, the insider directly owned 1,316,005 shares of the company's stock, valued at $62,799,758.60. This trade represents a 0.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Adam C. Spice sold 874,588 shares of the stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $48.01, for a total transaction of $41,988,969.88. Following the sale, the chief financial officer directly owned 2,057,889 shares of the company's stock, valued at approximately $98,799,250.89. This trade represents a 29.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,406,361 shares of company stock worth $267,483,973. Insiders own 11.90% of the company's stock.

Rocket Lab Price Performance

NASDAQ RKLB opened at $64.26 on Friday. Rocket Lab Corporation has a 12 month low of $9.20 and a 12 month high of $73.50. The stock has a market cap of $31.10 billion, a price-to-earnings ratio of -142.80 and a beta of 2.14. The company's 50 day moving average is $48.41 and its two-hundred day moving average is $35.60. 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 released its earnings results on Thursday, August 7th. The rocket manufacturer reported ($0.13) EPS for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.06). Rocket Lab had a negative return on equity of 48.14% and a negative net margin of 45.87%.The firm had revenue of $144.50 million for the quarter, compared to the consensus estimate of $135.42 million. During the same quarter in the previous year, the business posted ($0.08) EPS. Rocket Lab's revenue was up 35.9% on a year-over-year basis. Rocket Lab has set its Q3 2025 guidance at EPS. As a group, research analysts anticipate that Rocket Lab Corporation will post -0.38 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RKLB. Citigroup reiterated a "buy" rating and issued a $50.00 price objective (up previously from $33.00) on shares of Rocket Lab in a research note on Monday, July 14th. Craig Hallum began coverage on shares of Rocket Lab in a research note on Monday, July 28th. They issued a "hold" rating and a $51.00 price objective on the stock. Stifel Nicolaus increased their price objective on shares of Rocket Lab from $34.00 to $55.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Bank of America increased their price objective on shares of Rocket Lab from $30.00 to $50.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Finally, Roth Capital reiterated a "buy" rating on shares of Rocket Lab in a research note on Friday, August 29th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $42.27.

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.

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