Swedbank AB Purchases 58,081 Shares of Rocket Lab Corporation $RKLB

Key Points

• Swedbank AB increased its Rocket Lab stake by 11.4% in the first quarter, buying 58,081 additional shares and bringing its total holding to 567,331 shares worth about $36.4 million.
• Analyst sentiment remains broadly positive despite mixed opinions, with Rocket Lab carrying a “Moderate Buy” consensus and an average price target of $108.24. Recent targets ranged from $96 to $150, while one analyst maintained a sell rating.
• Rocket Lab posted strong revenue growth in its latest earnings, reporting $200.35 million in revenue, up 63.4% year over year, while matching EPS expectations at -$0.07. Insider selling has also been notable, with executives selling shares in recent months.

Swedbank AB boosted its position in Rocket Lab Corporation (NASDAQ:RKLB - Free Report) by 11.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 567,331 shares of the rocket manufacturer's stock after acquiring an additional 58,081 shares during the period. Swedbank AB owned 0.10% of Rocket Lab worth $36,434,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of RKLB. Sara Bay Financial grew its stake in shares of Rocket Lab by 0.7% in the fourth quarter. Sara Bay Financial now owns 15,905 shares of the rocket manufacturer's stock worth $1,121,000 after purchasing an additional 117 shares during the last quarter. ORG Partners LLC grew its position in shares of Rocket Lab by 9.1% in the 4th quarter. ORG Partners LLC now owns 1,458 shares of the rocket manufacturer's stock worth $102,000 after buying an additional 121 shares during the last quarter. Sovereign Financial Group Inc. grew its position in shares of Rocket Lab by 3.9% in the 1st quarter. Sovereign Financial Group Inc. now owns 3,320 shares of the rocket manufacturer's stock worth $213,000 after buying an additional 125 shares during the last quarter. Traynor Capital Management Inc. increased its stake in shares of Rocket Lab by 1.9% during the fourth quarter. Traynor Capital Management Inc. now owns 7,191 shares of the rocket manufacturer's stock valued at $502,000 after buying an additional 133 shares during the period. Finally, Capital Advisors Wealth Management LLC increased its stake in shares of Rocket Lab by 1.0% during the fourth quarter. Capital Advisors Wealth Management LLC now owns 13,466 shares of the rocket manufacturer's stock valued at $939,000 after buying an additional 136 shares during the period. 71.78% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Weiss Ratings restated a "sell (d-)" rating on shares of Rocket Lab in a report on Tuesday, April 21st. Stifel Nicolaus set a $132.00 price target on shares of Rocket Lab in a report on Thursday, June 4th. Cantor Fitzgerald reissued an "overweight" rating and set a $96.00 price objective on shares of Rocket Lab in a research report on Tuesday, June 30th. KeyCorp upgraded shares of Rocket Lab from a "sector weight" rating to an "overweight" rating and set a $135.00 price objective for the company in a report on Monday, June 15th. Finally, New Street Research initiated coverage on shares of Rocket Lab in a research report on Wednesday, May 13th. They issued a "buy" rating and a $150.00 target price for the company. Three analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $108.24.

Rocket Lab Price Performance

Shares of NASDAQ RKLB opened at $83.35 on Thursday. Rocket Lab Corporation has a fifty-two week low of $37.57 and a fifty-two week high of $151.00. The company has a 50 day simple moving average of $109.08 and a two-hundred day simple moving average of $87.19. The company has a market capitalization of $48.24 billion, a price-to-earnings ratio of -260.47 and a beta of 2.54. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.02 and a current ratio of 4.47.

Rocket Lab (NASDAQ:RKLB - Get Free Report) last released its earnings results on Thursday, May 7th. The rocket manufacturer reported ($0.07) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.07). The firm had revenue of $200.35 million during the quarter, compared to analyst estimates of $189.65 million. Rocket Lab had a negative net margin of 26.87% and a negative return on equity of 11.72%. The business's revenue was up 63.4% on a year-over-year basis. During the same period last year, the business earned ($0.12) earnings per share. Analysts expect that Rocket Lab Corporation will post -0.29 EPS for the current fiscal year.

Insider Buying and Selling at Rocket Lab

In other Rocket Lab news, CFO Adam C. Spice sold 62,744 shares of the business's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $142.57, for a total value of $8,945,412.08. Following the sale, the chief financial officer directly owned 983,049 shares of the company's stock, valued at approximately $140,153,295.93. The trade was a 6.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Arjun Kampani sold 88,000 shares of the stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $107.98, for a total value of $9,502,240.00. Following the completion of the sale, the senior vice president directly owned 264,705 shares in the company, valued at approximately $28,582,845.90. This represents a 24.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 3,849,294 shares of company stock valued at $362,816,208 in the last ninety days. Corporate insiders own 8.40% of the company's stock.

More Rocket Lab News

Here are the key news stories impacting Rocket Lab this week:

• Positive Sentiment: Rocket Lab reported mission success for the U.S. Space Force’s VICTUS HAZE program, completing a record-fast responsive launch and complex on-orbit operations ahead of schedule. The result reinforces RKLB’s credibility in national security space and shows it can deliver integrated launch-plus-spacecraft services. Rocket Lab Delivers Mission Success for Space Force: Completes Historic Launch and On-Orbit Satellite Tracking Mission in Record Time
• Positive Sentiment: Several analysts have stayed bullish, with recent price targets around $115 to $135 and one bullish case as high as $293, reflecting confidence in Rocket Lab’s long-term growth story and contract backlog. Rocket Lab Bull-Case Target Set at $293 by Morgan Stanley
• Neutral Sentiment: Commentary around a possible $8 billion Iridium transaction suggests Rocket Lab is trying to become a broader space infrastructure platform, which could improve its strategic position but also raises execution and integration questions. Rocket Lab’s Mega Iridium Deal Kicks off Space Industry Consolidation
• Negative Sentiment: Rocket Lab has been swept up in a broader selloff across space stocks, with traders rotating out of high-beta names and questioning whether the recent rally got ahead of fundamentals. Rocket Lab Stock Falls Tuesday: What's Driving the Weakness?
• Negative Sentiment: Investor sentiment is also being pressured by reports of heavy insider selling, including CEO Peter Beck’s planned stake reduction, which can signal caution around the stock’s near-term valuation. Rocket Lab (RKLB) Falls Hard — Its CEO May Hold the Answer

Rocket Lab Profile

Rocket Lab is an aerospace company that provides launch services, spacecraft, and space systems for commercial and government customers. The company's primary launch vehicle is Electron, a small-lift orbital rocket designed to deploy small satellites and rideshare payloads to low Earth orbit. Rocket Lab also develops and manufactures the Rutherford engine, noted for its electric-pump-fed design and additive-manufactured components, which powers Electron and supports the company's propulsion capabilities.

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