Farther Finance Advisors LLC Buys 1,226 Shares of Rocket Lab Corporation (NASDAQ:RKLB)

Farther Finance Advisors LLC lifted its stake in Rocket Lab Corporation (NASDAQ:RKLB) by 181.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,903 shares of the rocket manufacturer’s stock after acquiring an additional 1,226 shares during the period. Farther Finance Advisors LLC’s holdings in Rocket Lab were worth $35,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Rocket Lab by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 36,195,577 shares of the rocket manufacturer’s stock valued at $921,901,000 after acquiring an additional 668,093 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Rocket Lab by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 8,285,693 shares of the rocket manufacturer’s stock valued at $211,084,000 after acquiring an additional 32,658 shares in the last quarter. FMR LLC raised its stake in shares of Rocket Lab by 30,853.3% in the 4th quarter. FMR LLC now owns 3,696,136 shares of the rocket manufacturer’s stock valued at $94,141,000 after acquiring an additional 3,684,195 shares in the last quarter. Northern Trust Corp raised its stake in shares of Rocket Lab by 9.5% in the 4th quarter. Northern Trust Corp now owns 3,227,617 shares of the rocket manufacturer’s stock valued at $82,207,000 after acquiring an additional 281,339 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Rocket Lab by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,902,212 shares of the rocket manufacturer’s stock worth $73,919,000 after buying an additional 23,855 shares during the period. 71.78% of the stock is owned by institutional investors.

Insider Transactions at Rocket Lab

In other news, insider Arjun Kampani sold 5,194 shares of the business’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $26.52, for a total value of $137,744.88. Following the sale, the insider now owns 535,424 shares in the company, valued at approximately $14,199,444.48. The trade was a 0.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Frank Klein sold 1,818 shares of the business’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $26.51, for a total transaction of $48,195.18. Following the completion of the sale, the insider now owns 1,368,372 shares in the company, valued at $36,275,541.72. This represents a 0.13% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,124,642 shares of company stock valued at $29,473,976. 13.70% of the stock is owned by corporate insiders.

Rocket Lab Price Performance

Shares of NASDAQ:RKLB opened at $33.46 on Wednesday. Rocket Lab Corporation has a 1-year low of $4.20 and a 1-year high of $34.23. The firm has a market capitalization of $15.18 billion, a PE ratio of -83.65 and a beta of 2.08. The business’s 50 day moving average is $24.89 and its 200-day moving average is $24.01. The company has a current ratio of 2.08, a quick ratio of 1.72 and a debt-to-equity ratio of 0.97.

Rocket Lab (NASDAQ:RKLB) last announced its quarterly earnings data on Thursday, May 8th. The rocket manufacturer reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.02). Rocket Lab had a negative return on equity of 48.92% and a negative net margin of 44.32%. 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 business posted ($0.09) EPS. Rocket Lab’s revenue for the quarter was up 32.1% compared to the same quarter last year. Sell-side analysts predict that Rocket Lab Corporation will post -0.38 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have commented on RKLB. Morgan Stanley lifted their price target on Rocket Lab from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Monday, March 10th. Wells Fargo & Company dropped their price target on 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. Citigroup dropped their price target on Rocket Lab from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Cantor Fitzgerald lifted their price target on Rocket Lab from $29.00 to $35.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 10th. Finally, Needham & Company LLC lifted their price target on Rocket Lab from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, May 28th. Five investment 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $28.10.

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.