Rocket Lab Corporation (NASDAQ:RKLB) Stock Position Raised by GAMMA Investing LLC

GAMMA Investing LLC lifted its position in Rocket Lab Corporation (NASDAQ:RKLB) by 3,319.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 19,900 shares of the rocket manufacturer’s stock after buying an additional 19,318 shares during the quarter. GAMMA Investing LLC’s holdings in Rocket Lab were worth $356,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in RKLB. Empowered Funds LLC acquired a new position in shares of Rocket Lab during the 4th quarter worth about $288,000. Rhumbline Advisers increased its position in Rocket Lab by 2.2% in the 4th quarter. Rhumbline Advisers now owns 479,129 shares of the rocket manufacturer’s stock worth $12,203,000 after buying an additional 10,219 shares during the period. Principal Securities Inc. increased its position in Rocket Lab by 137.3% in the 4th quarter. Principal Securities Inc. now owns 5,356 shares of the rocket manufacturer’s stock worth $136,000 after buying an additional 3,099 shares during the period. Allworth Financial LP lifted its holdings in shares of Rocket Lab by 20.5% during the fourth quarter. Allworth Financial LP now owns 11,430 shares of the rocket manufacturer’s stock worth $291,000 after buying an additional 1,946 shares during the last quarter. Finally, Sanctuary Advisors LLC boosted its position in shares of Rocket Lab by 200.0% in the fourth quarter. Sanctuary Advisors LLC now owns 63,679 shares of the rocket manufacturer’s stock valued at $1,622,000 after acquiring an additional 42,453 shares during the period. Institutional investors own 71.78% of the company’s stock.

Rocket Lab Stock Up 7.9%

Shares of RKLB opened at $30.04 on Friday. The company has a quick ratio of 1.72, a current ratio of 2.08 and a debt-to-equity ratio of 0.97. The company has a 50-day moving average price of $24.37 and a two-hundred day moving average price of $23.88. The stock has a market cap of $13.62 billion, a price-to-earnings ratio of -75.10 and a beta of 2.08. Rocket Lab Corporation has a 12 month low of $4.20 and a 12 month high of $33.34.

Rocket Lab (NASDAQ:RKLB) last issued 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). The company had revenue of $122.57 million during the quarter, compared to analyst estimates of $120.74 million. Rocket Lab had a negative return on equity of 48.92% and a negative net margin of 44.32%. The company’s quarterly revenue was up 32.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.09) earnings per share. Equities analysts predict that Rocket Lab Corporation will post -0.38 EPS for the current fiscal year.

Insider Activity

In other news, insider Arjun Kampani sold 5,277 shares of Rocket Lab stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $29.97, for a total value of $158,151.69. Following the completion of the transaction, the insider now owns 569,606 shares in the company, valued at approximately $17,071,091.82. The trade was a 0.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Frank Klein sold 2,569 shares of the business’s stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $29.97, for a total value of $76,992.93. Following the completion of the transaction, the insider now directly owns 1,415,075 shares in the company, valued at $42,409,797.75. The trade was a 0.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,118,289 shares of company stock worth $29,287,134. Corporate insiders own 13.70% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on RKLB shares. Morgan Stanley boosted their target price on shares of Rocket Lab from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Monday, March 10th. Cantor Fitzgerald raised their price target on shares of Rocket Lab from $29.00 to $35.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 10th. KeyCorp reaffirmed an “overweight” rating on shares of Rocket Lab in a research report on Tuesday, June 3rd. Needham & Company LLC increased their target price on shares of Rocket Lab from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, May 28th. Finally, Roth Capital lifted their target price on Rocket Lab from $25.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, May 28th. 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 stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $28.10.

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.