Themes Management Co LLC Makes New $863,000 Investment in Rocket Lab Corporation $RKLB

Key Points

• Themes Management Co LLC disclosed a new fourth-quarter position in Rocket Lab, buying 12,367 shares valued at about $863,000.
• Institutional interest remains broad, with several other funds adding shares and 71.78% of Rocket Lab’s stock now held by hedge funds and other institutional investors.
• Despite mixed insider activity, Rocket Lab’s latest earnings showed revenue of $200.35 million, up 63.4% year over year, while analysts currently rate the stock a Moderate Buy with a consensus target price of $97.19.

Themes Management Co LLC bought a new position in Rocket Lab Corporation (NASDAQ:RKLB - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 12,367 shares of the rocket manufacturer's stock, valued at approximately $863,000.

Several other large investors have also bought and sold shares of the company. Aventura Private Wealth LLC purchased a new position in shares of Rocket Lab during the fourth quarter valued at approximately $25,000. UMB Bank n.a. raised its holdings in shares of Rocket Lab by 352.5% during the third quarter. UMB Bank n.a. now owns 543 shares of the rocket manufacturer's stock valued at $26,000 after purchasing an additional 423 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Rocket Lab by 109.5% during the second quarter. EverSource Wealth Advisors LLC now owns 796 shares of the rocket manufacturer's stock valued at $28,000 after purchasing an additional 416 shares during the last quarter. V Square Quantitative Management LLC purchased a new position in shares of Rocket Lab during the fourth quarter valued at approximately $32,000. Finally, DecisionPoint Financial LLC raised its holdings in shares of Rocket Lab by 91.1% during the fourth quarter. DecisionPoint Financial LLC now owns 472 shares of the rocket manufacturer's stock valued at $33,000 after purchasing an additional 225 shares during the last quarter. 71.78% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Rocket Lab news, Director Alexander R. Slusky sold 100,000 shares of the company's stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $118.08, for a total value of $11,808,000.00. Following the completion of the transaction, the director directly owned 434,675 shares in the company, valued at $51,326,424. This represents a 18.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Peter Beck sold 18,857 shares of the company's stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $69.59, for a total transaction of $1,312,258.63. Following the completion of the transaction, the chief executive officer owned 884,085 shares of the company's stock, valued at approximately $61,523,475.15. The trade was a 2.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 333,449 shares of company stock valued at $28,295,233. Insiders own 8.40% of the company's stock.

Rocket Lab Stock Performance

Shares of NASDAQ RKLB opened at $135.76 on Tuesday. The firm has a 50 day moving average of $86.19 and a 200 day moving average of $73.80. The company has a current ratio of 4.47, a quick ratio of 4.02 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $78.57 billion, a price-to-earnings ratio of -424.25 and a beta of 2.30. Rocket Lab Corporation has a 12-month low of $24.67 and a 12-month high of $139.76.

Rocket Lab (NASDAQ:RKLB - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The rocket manufacturer reported ($0.07) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.07). The business 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 company's revenue was up 63.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.12) earnings per share. On average, research analysts anticipate that Rocket Lab Corporation will post -0.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on RKLB shares. Wells Fargo & Company started coverage on shares of Rocket Lab in a research report on Wednesday, April 1st. They set an "equal weight" rating and a $60.00 target price for the company. Clear Str upgraded shares of Rocket Lab to a "strong-buy" rating in a research report on Wednesday, March 18th. Roth Mkm boosted their target price on shares of Rocket Lab from $90.00 to $100.00 and gave the company a "buy" rating in a research report on Friday, April 17th. Needham & Company LLC boosted their target price on shares of Rocket Lab from $95.00 to $120.00 and gave the company a "buy" rating in a research report on Monday, May 11th. Finally, BTIG Research restated a "hold" rating on shares of Rocket Lab in a research report on Tuesday, May 12th. Three research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $97.19.

About Rocket Lab

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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