Cambridge Investment Research Advisors Inc. Purchases 20,076 Shares of Rocket Lab Corporation (NASDAQ:RKLB)

Cambridge Investment Research Advisors Inc. grew its position in Rocket Lab Corporation (NASDAQ:RKLBFree Report) by 52.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 58,652 shares of the rocket manufacturer’s stock after purchasing an additional 20,076 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Rocket Lab were worth $1,049,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp lifted its position in shares of Rocket Lab by 2.6% during the 4th quarter. Bank of New York Mellon Corp now owns 1,121,024 shares of the rocket manufacturer’s stock valued at $28,552,000 after acquiring an additional 28,618 shares during the period. US Bancorp DE lifted its position in shares of Rocket Lab by 1,937.6% during the 4th quarter. US Bancorp DE now owns 7,315 shares of the rocket manufacturer’s stock valued at $186,000 after acquiring an additional 6,956 shares during the period. Smartleaf Asset Management LLC lifted its position in shares of Rocket Lab by 1,565.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,015 shares of the rocket manufacturer’s stock valued at $53,000 after acquiring an additional 1,894 shares during the period. Jones Financial Companies Lllp lifted its position in shares of Rocket Lab by 450.4% during the 4th quarter. Jones Financial Companies Lllp now owns 10,238 shares of the rocket manufacturer’s stock valued at $261,000 after acquiring an additional 8,378 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Rocket Lab by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,902,212 shares of the rocket manufacturer’s stock valued at $73,919,000 after acquiring an additional 23,855 shares during the period. 71.78% of the stock is owned by institutional investors.

Insider Buying and Selling at Rocket Lab

In other news, insider Frank Klein sold 44,885 shares of the firm’s stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $26.66, for a total value of $1,196,634.10. Following the completion of the transaction, the insider directly owned 1,370,190 shares in the company, valued at approximately $36,529,265.40. This trade represents a 3.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Matthew Ocko sold 820,000 shares of the firm’s stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $26.01, for a total transaction of $21,328,200.00. Following the completion of the transaction, the director owned 1,083,053 shares of the company’s stock, valued at $28,170,208.53. This trade represents a 43.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,130,995 shares of company stock worth $29,686,039 over the last ninety days. Company insiders own 13.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Needham & Company LLC boosted their target price on shares of Rocket Lab from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, May 28th. Roth Capital upped their price objective on shares of Rocket Lab from $25.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, May 28th. The Goldman Sachs Group assumed coverage on shares of Rocket Lab in a report on Monday, June 30th. They set a “neutral” rating and a $27.00 price objective on the stock. Morgan Stanley upped their price objective on shares of Rocket Lab from $18.00 to $20.00 and gave the stock an “equal weight” rating in a report on Monday, March 10th. Finally, Stifel Nicolaus upped their price objective on shares of Rocket Lab from $29.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, May 28th. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Rocket Lab presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.40.

Check Out Our Latest Report on Rocket Lab

Rocket Lab Price Performance

Shares of NASDAQ:RKLB opened at $35.60 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 firm has a market capitalization of $16.15 billion, a PE ratio of -89.00 and a beta of 2.15. Rocket Lab Corporation has a twelve month low of $4.20 and a twelve month high of $38.26. The company has a 50-day moving average price of $27.27 and a two-hundred day moving average price of $24.63.

Rocket Lab (NASDAQ:RKLBGet Free Report) last issued its earnings results on Thursday, May 8th. The rocket manufacturer reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.02). The business had revenue of $122.57 million for the quarter, compared to the consensus estimate of $120.74 million. Rocket Lab had a negative return on equity of 48.92% and a negative net margin of 44.32%. Rocket Lab’s revenue for the quarter was up 32.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.09) EPS. Equities analysts forecast that Rocket Lab Corporation will post -0.38 EPS for the current year.

Rocket Lab Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Rocket Lab (NASDAQ:RKLB)

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