Rocket Lab Corporation (NASDAQ:RKLB) Stock Holdings Lifted by Tempus Wealth Planning LLC

Key Points

• Tempus Wealth Planning LLC increased its holdings in Rocket Lab Corporation by 98.0% in the first quarter, acquiring 8,244 additional shares to bring its total to 16,657 shares, valued at approximately $298,000.
• Rocket Lab reported a loss of $0.12 EPS for the latest quarter, missing analysts' estimates, although revenue grew by 32.1% year-over-year, reaching $122.57 million.
• Analysts have a consensus rating of "Moderate Buy" for Rocket Lab stock, with price targets ranging from $34.10 to $50.00, indicating ongoing investor interest and confidence.

Tempus Wealth Planning LLC grew its holdings in Rocket Lab Corporation (NASDAQ:RKLB - Free Report) by 98.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,657 shares of the rocket manufacturer's stock after acquiring an additional 8,244 shares during the period. Tempus Wealth Planning LLC's holdings in Rocket Lab were worth $298,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. 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 worth $28,000 after acquiring an additional 860 shares during the last quarter. MassMutual Private Wealth & Trust FSB purchased a new position in Rocket Lab in the 1st quarter valued at about $29,000. Farther Finance Advisors LLC increased its position in Rocket Lab by 181.1% during the 1st quarter. Farther Finance Advisors LLC now owns 1,903 shares of the rocket manufacturer's stock worth $35,000 after purchasing an additional 1,226 shares in the last quarter. Quarry LP acquired a new stake in Rocket Lab in the fourth quarter valued at approximately $48,000. Finally, NewEdge Advisors LLC boosted its stake in shares of Rocket Lab by 1,000.0% during the 4th quarter. NewEdge Advisors LLC now owns 1,925 shares of the rocket manufacturer's stock valued at $49,000 after buying an additional 1,750 shares during the last quarter. 71.78% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Roth Capital raised their price target on Rocket Lab from $25.00 to $35.00 and gave the company a "buy" rating in a report on Wednesday, May 28th. Citigroup reiterated a "buy" rating and issued a $50.00 price target (up from $33.00) on shares of Rocket Lab in a research report on Monday, July 14th. Stifel Nicolaus increased their target price on Rocket Lab from $29.00 to $34.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. Wells Fargo & Company decreased their price objective on Rocket Lab from $21.00 to $18.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Finally, Bank of America raised their price objective on Rocket Lab from $30.00 to $50.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $34.10.

Rocket Lab Stock Performance

Rocket Lab stock traded down $0.70 during midday trading on Friday, hitting $47.43. 14,499,283 shares of the company's stock were exchanged, compared to its average volume of 25,171,824. The stock has a market cap of $21.89 billion, a price-to-earnings ratio of -118.58 and a beta of 2.15. The firm's 50 day simple moving average is $33.89 and its 200 day simple moving average is $26.53. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.72 and a current ratio of 2.08. Rocket Lab Corporation has a 12-month low of $4.20 and a 12-month high of $53.44.

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

Insider Buying and Selling at Rocket Lab

In other Rocket Lab news, Director Matthew Ocko sold 820,000 shares of the business's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $26.01, for a total transaction of $21,328,200.00. Following the completion of the sale, the director directly owned 1,083,053 shares in the company, valued at $28,170,208.53. The trade was a 43.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Merline Saintil sold 6,353 shares of the company's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $33.38, for a total transaction of $212,063.14. Following the completion of the sale, the director directly owned 419,569 shares in the company, valued at $14,005,213.22. This represents a 1.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,130,995 shares of company stock valued at $29,686,039 in the last ninety days. Corporate insiders own 13.70% of the company's stock.

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.