Swiss National Bank Increases Holdings in Rocket Lab Corporation (NASDAQ:RKLB)

Swiss National Bank raised its stake in Rocket Lab Corporation (NASDAQ:RKLB - Free Report) by 2.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 652,400 shares of the rocket manufacturer's stock after acquiring an additional 17,500 shares during the period. Swiss National Bank owned approximately 0.14% of Rocket Lab worth $11,665,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of RKLB. Versant Capital Management Inc grew its position in Rocket Lab by 118.1% during the 1st quarter. Versant Capital Management Inc now owns 1,588 shares of the rocket manufacturer's stock valued at $28,000 after purchasing an additional 860 shares during the last quarter. MassMutual Private Wealth & Trust FSB bought a new stake in shares of Rocket Lab during the first quarter valued at approximately $29,000. Farther Finance Advisors LLC raised its holdings in Rocket Lab by 181.1% in the 1st quarter. Farther Finance Advisors LLC now owns 1,903 shares of the rocket manufacturer's stock worth $35,000 after acquiring an additional 1,226 shares during the last quarter. Spectrum Wealth Counsel LLC lifted its position in Rocket Lab by 100.0% in the 1st quarter. Spectrum Wealth Counsel LLC now owns 2,000 shares of the rocket manufacturer's stock valued at $36,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Quarry LP purchased a new stake in Rocket Lab during the 4th quarter valued at $48,000. 71.78% of the stock is currently owned by institutional investors.

Rocket Lab Stock Performance

NASDAQ:RKLB opened at $42.81 on Friday. The stock has a 50-day simple moving average of $38.90 and a two-hundred day simple moving average of $28.21. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.72 and a current ratio of 2.67. Rocket Lab Corporation has a 52-week low of $5.25 and a 52-week high of $53.44. The firm has a market capitalization of $19.75 billion, a PE ratio of -95.13 and a beta of 2.17.

Rocket Lab (NASDAQ:RKLB - Get Free Report) last released 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). 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 during the quarter, compared to analysts' expectations of $135.42 million. During the same period in the prior year, the company posted ($0.08) earnings per share. The company's revenue was up 35.9% compared to the same quarter last year. Analysts forecast that Rocket Lab Corporation will post -0.38 EPS for the current year.

Insider Activity

In other news, insider Frank Klein sold 2,546 shares of the company's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $30.00, for a total value of $76,380.00. Following the completion of the transaction, the insider owned 1,365,826 shares of the company's stock, valued at $40,974,780. This represents a 0.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Arjun Kampani sold 5,194 shares of the stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $30.00, for a total value of $155,820.00. Following the sale, the insider owned 530,230 shares of the company's stock, valued at $15,906,900. This represents a 0.97% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,130,995 shares of company stock valued at $29,686,039. 11.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Citigroup restated a "buy" rating and issued a $50.00 price target (up previously from $33.00) on shares of Rocket Lab in a research note on Monday, July 14th. Bank of America upped their target price on shares of Rocket Lab from $30.00 to $50.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. KeyCorp boosted their price objective on shares of Rocket Lab from $40.00 to $50.00 and gave the company an "overweight" rating in a report on Friday, August 8th. Roth Capital lifted their target price on shares of Rocket Lab from $25.00 to $35.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. Finally, The Goldman Sachs Group began coverage on Rocket Lab in a report on Monday, June 30th. They issued a "neutral" rating and a $27.00 price objective for the company. 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 company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus 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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