UNICOM Systems Inc. Makes New $4.63 Million Investment in Rocket Lab Corporation (NASDAQ:RKLB)

UNICOM Systems Inc. purchased a new position in shares of Rocket Lab Corporation (NASDAQ:RKLB - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 259,000 shares of the rocket manufacturer's stock, valued at approximately $4,631,000. Rocket Lab comprises approximately 0.9% of UNICOM Systems Inc.'s investment portfolio, making the stock its 18th biggest holding. UNICOM Systems Inc. owned approximately 0.06% of Rocket Lab as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in RKLB. Sandy Spring Bank purchased a new position in Rocket Lab during the fourth quarter worth about $26,000. Versant Capital Management Inc boosted its holdings in 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 purchased a new position in Rocket Lab during the first quarter worth about $29,000. Farther Finance Advisors LLC boosted its holdings in Rocket Lab by 181.1% during the first 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 during the last quarter. Finally, Quarry LP purchased a new position in Rocket Lab during the fourth quarter worth about $48,000. 71.78% of the stock is currently owned by hedge funds and other institutional investors.

Rocket Lab Stock Performance

Shares of NASDAQ RKLB traded up $3.64 during midday trading on Thursday, hitting $51.33. The company's stock had a trading volume of 46,651,302 shares, compared to its average volume of 18,741,798. The stock has a fifty day moving average price of $30.86 and a 200 day moving average price of $25.65. Rocket Lab Corporation has a one year low of $4.20 and a one year high of $53.44. The company has a current ratio of 2.08, a quick ratio of 1.72 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $23.28 billion, a price-to-earnings ratio of -128.33 and a beta of 2.15.

Rocket Lab (NASDAQ:RKLB - Get Free Report) last posted 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). Rocket Lab had a negative net margin of 44.32% and a negative return on equity of 48.92%. The business had revenue of $122.57 million during the quarter, compared to the consensus estimate of $120.74 million. During the same period last year, the firm earned ($0.09) EPS. The business's revenue for the quarter was up 32.1% on a year-over-year basis. On average, research analysts forecast that Rocket Lab Corporation will post -0.38 EPS for the current fiscal year.

Analysts Set New Price Targets

RKLB has been the topic of several research reports. Roth Capital lifted their price objective 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. KeyCorp lifted their price objective on shares of Rocket Lab from $29.00 to $40.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 2nd. Stifel Nicolaus lifted their price objective on shares of Rocket Lab from $29.00 to $34.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. Wells Fargo & Company lowered their price objective on shares of Rocket Lab from $21.00 to $18.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. Finally, Bank of America lifted their price objective on shares of Rocket Lab from $30.00 to $50.00 and gave the stock a "buy" rating in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Rocket Lab currently has an average rating of "Moderate Buy" and an average target price of $34.10.

Insider Buying and Selling at Rocket Lab

In related news, Director Merline Saintil sold 6,353 shares of the company's stock in a transaction that occurred 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 sale, the director owned 419,569 shares of the company's stock, valued at approximately $14,005,213.22. This represents a 1.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Arjun Kampani sold 5,194 shares of the company's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $30.00, for a total transaction of $155,820.00. Following the sale, the insider directly owned 530,230 shares in the company, valued at $15,906,900. This trade 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 worth $29,686,039. 13.70% of the stock is currently owned by company insiders.

About Rocket Lab

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.