10,719 Shares in Rocket Lab Corporation (NASDAQ:RKLB) Purchased by TigerOak Management L.L.C.

TigerOak Management L.L.C. bought a new position in shares of Rocket Lab Corporation (NASDAQ:RKLB - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 10,719 shares of the rocket manufacturer's stock, valued at approximately $192,000.

Other institutional investors have also modified their holdings of the company. Spectrum Wealth Counsel LLC acquired a new stake in Rocket Lab in the fourth quarter valued at $25,000. Sandy Spring Bank acquired a new stake in shares of Rocket Lab in the 4th quarter valued at about $26,000. Versant Capital Management Inc lifted its position in shares of Rocket Lab by 118.1% during the first quarter. Versant Capital Management Inc now owns 1,588 shares of the rocket manufacturer's stock worth $28,000 after purchasing an additional 860 shares during the last quarter. MassMutual Private Wealth & Trust FSB bought a new position in shares of Rocket Lab during the first quarter worth about $29,000. Finally, Quarry LP acquired a new position in Rocket Lab in the fourth quarter worth about $48,000. Institutional investors and hedge funds own 71.78% of the company's stock.

Insider Transactions at Rocket Lab

In other Rocket Lab news, insider Arjun Kampani sold 5,277 shares of the firm's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $29.97, for a total transaction of $158,151.69. Following the transaction, the insider now owns 569,606 shares of the company's stock, valued at approximately $17,071,091.82. This trade represents a 0.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Matthew Ocko sold 200,000 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $26.44, for a total value of $5,288,000.00. Following the completion of the sale, the director now owns 1,320,121 shares of the company's stock, valued at $34,903,999.24. This trade represents a 13.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,130,995 shares of company stock worth $29,686,039. Company insiders own 13.70% of the company's stock.

Analyst Ratings Changes

RKLB has been the topic of several research reports. KeyCorp restated an "overweight" rating on shares of Rocket Lab in a research note on Tuesday, June 3rd. Morgan Stanley upped their price target on Rocket Lab from $18.00 to $20.00 and gave the company an "equal weight" rating in a research report on Monday, March 10th. Needham & Company LLC raised their price objective on Rocket Lab from $28.00 to $32.00 and gave the stock a "buy" rating in a research note on Wednesday, May 28th. Wells Fargo & Company lowered their target price on shares of Rocket Lab from $21.00 to $18.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Finally, The Goldman Sachs Group increased their target price on shares of Rocket Lab from $14.35 to $16.00 and gave the stock a "neutral" rating in a report on Monday, May 12th. Five 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 MarketBeat.com, Rocket Lab presently has a consensus rating of "Moderate Buy" and a consensus target price of $28.10.

Rocket Lab Stock Performance

Shares of RKLB traded up $3.79 during midday trading on Thursday, hitting $36.14. 41,451,021 shares of the stock traded hands, compared to its average volume of 17,553,801. The business's 50 day moving average price is $25.13 and its two-hundred day moving average price is $24.07. The firm has a market capitalization of $16.39 billion, a PE ratio of -90.35 and a beta of 2.08. 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 1-year low of $4.20 and a 1-year high of $37.19.

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

Rocket Lab 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.