Windmill Hill Asset Management Ltd Makes New Investment in Rocket Lab Corporation $RKLB

Key Points

• Windmill Hill Asset Management bought 22,089 shares of Rocket Lab in Q3 worth about $1.06 million, making RKLB its 11th-largest position (~0.3% of the firm's holdings).
• Insider selling has been heavy: CFO Adam C. Spice sold 1,365,665 shares on Jan 5 for roughly $103.1 million, and insiders sold 4,306,150 shares (~$271.9 million) in the last quarter, leaving insiders with 11.9% ownership.
• Rocket Lab has ~48% year-over-year revenue growth and a market cap near $44.6 billion but remains unprofitable; analysts give a consensus rating of "Moderate Buy" with an average price target of $72.92 and several firms raising targets (Needham to $90).

Windmill Hill Asset Management Ltd bought a new position in shares of Rocket Lab Corporation (NASDAQ:RKLB - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 22,089 shares of the rocket manufacturer's stock, valued at approximately $1,058,000. Rocket Lab accounts for approximately 0.3% of Windmill Hill Asset Management Ltd's holdings, making the stock its 11th biggest position.

A number of other large investors have also recently bought and sold shares of the stock. Cadent Capital Advisors LLC bought a new position in Rocket Lab during the third quarter worth about $668,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Rocket Lab by 44.7% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 992,777 shares of the rocket manufacturer's stock valued at $35,512,000 after purchasing an additional 306,713 shares during the period. Orion Porfolio Solutions LLC acquired a new stake in Rocket Lab during the 2nd quarter valued at $1,009,000. McGuire Investment Group LLC raised its holdings in Rocket Lab by 91.3% in the 2nd quarter. McGuire Investment Group LLC now owns 196,107 shares of the rocket manufacturer's stock valued at $7,015,000 after acquiring an additional 93,613 shares during the period. Finally, Norges Bank acquired a new stake in shares of Rocket Lab during the second quarter worth $164,751,000. 71.78% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Rocket Lab news, CFO Adam C. Spice sold 1,365,665 shares of the business's stock in a transaction on Monday, January 5th. The stock was sold at an average price of $75.50, for a total value of $103,107,707.50. Following the sale, the chief financial officer directly owned 1,359,568 shares in the company, valued at $102,647,384. The trade was a 50.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Edward H. Frank sold 2,500 shares of the company's stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $77.39, for a total transaction of $193,475.00. Following the sale, the director directly owned 142,504 shares in the company, valued at approximately $11,028,384.56. This trade represents a 1.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 4,306,150 shares of company stock valued at $271,865,732. Company insiders own 11.90% of the company's stock.

Rocket Lab Stock Performance

Shares of Rocket Lab stock opened at $83.47 on Tuesday. The business has a 50 day moving average price of $66.40 and a 200-day moving average price of $56.50. Rocket Lab Corporation has a 52 week low of $14.71 and a 52 week high of $99.58. The company has a market cap of $44.59 billion, a PE ratio of -218.63 and a beta of 2.16. The company has a quick ratio of 2.83, a current ratio of 3.18 and a debt-to-equity ratio of 0.32.

Rocket Lab (NASDAQ:RKLB - Get Free Report) last released its quarterly earnings results on Monday, November 10th. The rocket manufacturer reported ($0.03) earnings per share for the quarter, beating analysts' consensus estimates of ($0.05) by $0.02. Rocket Lab had a negative net margin of 35.64% and a negative return on equity of 27.26%. The company had revenue of $155.08 million for the quarter, compared to analyst estimates of $152.45 million. During the same period last year, the firm earned ($0.10) earnings per share. The firm's revenue was up 48.0% on a year-over-year basis. Equities analysts anticipate that Rocket Lab Corporation will post -0.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Needham & Company LLC boosted their price target on Rocket Lab from $63.00 to $90.00 and gave the company a "buy" rating in a research note on Tuesday, December 23rd. Roth Mkm restated a "buy" rating and set a $75.00 price objective on shares of Rocket Lab in a research report on Tuesday, November 11th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Rocket Lab in a research report on Thursday. Stifel Nicolaus increased their target price on shares of Rocket Lab from $75.00 to $85.00 and gave the stock a "buy" rating in a report on Monday, December 22nd. Finally, Robert W. Baird upgraded Rocket Lab to a "strong-buy" rating in a research note on Thursday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $72.92.

Rocket Lab Profile

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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