TrueWealth Financial Partners Takes Position in Rocket Lab Corporation $RKLB

Key Points

• TrueWealth Financial Partners opened a new position in Rocket Lab during the fourth quarter, buying 4,500 shares worth about $314,000.
• Rocket Lab reported better-than-expected Q1 revenue of $200.35 million, up 63.4% year over year, while matching earnings estimates at a loss of $0.07 per share and raising guidance.
• Wall Street sentiment remains constructive despite some valuation concerns: the stock has a Moderate Buy consensus rating with a $93.67 average price target, though insiders have been selling shares recently.

TrueWealth Financial Partners purchased a new stake in shares of Rocket Lab Corporation (NASDAQ:RKLB - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 4,500 shares of the rocket manufacturer's stock, valued at approximately $314,000.

Several other institutional investors and hedge funds have also recently modified their holdings of RKLB. Wilmington Savings Fund Society FSB acquired a new position in shares of Rocket Lab during the 3rd quarter valued at about $25,000. Hara Capital LLC acquired a new position in shares of Rocket Lab during the 3rd quarter valued at about $25,000. Aventura Private Wealth LLC acquired a new position in shares of Rocket Lab during the 4th quarter valued at about $25,000. UMB Bank n.a. boosted its position in shares of Rocket Lab by 352.5% during the 3rd quarter. UMB Bank n.a. now owns 543 shares of the rocket manufacturer's stock valued at $26,000 after acquiring an additional 423 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Rocket Lab by 109.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 796 shares of the rocket manufacturer's stock valued at $28,000 after acquiring an additional 416 shares during the last quarter. Institutional investors and hedge funds own 71.78% of the company's stock.

Rocket Lab Price Performance

Shares of RKLB opened at $124.15 on Thursday. Rocket Lab Corporation has a 1-year low of $21.86 and a 1-year high of $127.24. The stock has a market cap of $70.69 billion, a PE ratio of -387.97 and a beta of 2.30. The firm has a 50-day simple moving average of $76.51 and a two-hundred day simple moving average of $69.96. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.47 and a quick ratio of 4.02.

Rocket Lab (NASDAQ:RKLB - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The rocket manufacturer reported ($0.07) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.07). The business had revenue of $200.35 million during the quarter, compared to analysts' expectations 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 for the quarter was up 63.4% on a year-over-year basis. During the same period last year, the business earned ($0.12) earnings per share. As a group, analysts forecast that Rocket Lab Corporation will post -0.22 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. KeyCorp cut shares of Rocket Lab from an "overweight" rating to a "sector weight" rating in a research report on Thursday, January 15th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Rocket Lab in a research report on Tuesday, April 21st. Morgan Stanley raised shares of Rocket Lab from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $67.00 to $105.00 in a research note on Friday, January 16th. Citigroup reiterated an "outperform" rating on shares of Rocket Lab in a research report on Friday, May 8th. Finally, New Street Research assumed coverage on shares of Rocket Lab in a research report on Wednesday. They set a "buy" rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $93.67.

Rocket Lab News Roundup

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

• Positive Sentiment: Rocket Lab’s strong Q1 results and raised outlook are still driving buying interest, as the company beat revenue expectations and issued guidance that came in well above forecasts. Rocket Lab (RKLB) Stock Trades Up, Here Is Why
• Positive Sentiment: Needham’s higher price target and upbeat analyst commentary added to the momentum, signaling Wall Street sees more upside after the earnings beat. Why Is Rocket Lab Stock Surging On Wednesday?
• Positive Sentiment: Investors are also betting on Rocket Lab’s Neutron launch later this year, which could expand the company’s role in the medium-lift rocket market and broaden its revenue opportunity. Rocket Lab Stock Is Getting a Major Lift. Investors Are Betting on Its Neutron Launch Later This Year.
• Positive Sentiment: New business wins and strategic work with defense partner Anduril on hypersonics support the view that Rocket Lab’s technology is gaining broader commercial and defense traction. Anduril Hires Rocket Lab to Help It With Hypersonics
• Neutral Sentiment: Broader space-sector enthusiasm, including chatter around a potential SpaceX IPO and orbital data-center projects, has lifted the group and helped keep RKLB in focus. Space Stocks Jump As SpaceX, Google Explore Orbital Data Center Deal
• Negative Sentiment: After the sharp run-up, some articles are questioning valuation and whether investors should take profits, while noting execution risks around Neutron development and supply-chain constraints. Rocket Lab Stock Advances 74% in 3 Months: Time to Take Profits?

Insider Activity at Rocket Lab

In other Rocket Lab news, SVP Arjun Kampani sold 23,711 shares of the business's stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $71.95, for a total transaction of $1,706,006.45. Following the sale, the senior vice president directly owned 397,988 shares in the company, valued at $28,635,236.60. This represents a 5.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Frank Klein sold 36,768 shares of the business's stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $71.95, for a total transaction of $2,645,457.60. Following the sale, the insider owned 1,088,237 shares in the company, valued at $78,298,652.15. This trade represents a 3.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 233,449 shares of company stock valued at $16,487,233. 8.40% of the stock is owned by company insiders.

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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