Rocket Lab Corporation (NASDAQ:RKLB) Stock Position Lifted by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC boosted its stake in shares of Rocket Lab Corporation (NASDAQ:RKLB) by 180.3% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 26,040 shares of the rocket manufacturer’s stock after purchasing an additional 16,750 shares during the period. Nisa Investment Advisors LLC’s holdings in Rocket Lab were worth $466,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Rocket Lab by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 36,195,577 shares of the rocket manufacturer’s stock valued at $921,901,000 after purchasing an additional 668,093 shares in the last quarter. Geode Capital Management LLC grew its position in Rocket Lab by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 8,285,693 shares of the rocket manufacturer’s stock valued at $211,084,000 after purchasing an additional 32,658 shares in the last quarter. FMR LLC grew 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 buying an additional 3,684,195 shares in the last quarter. Northern Trust Corp grew 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 buying an additional 281,339 shares in the last quarter. Finally, Two Sigma Advisers LP bought a new stake in shares of Rocket Lab in the 4th quarter valued at approximately $72,623,000. 71.78% of the stock is owned by hedge funds and other institutional investors.

Rocket Lab Stock Performance

Shares of RKLB opened at $47.69 on Thursday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.72 and a current ratio of 2.08. Rocket Lab Corporation has a twelve month low of $4.20 and a twelve month high of $48.07. The firm’s 50 day moving average price is $30.29 and its two-hundred day moving average price is $25.48. The firm has a market cap of $21.63 billion, a P/E ratio of -119.23 and a beta of 2.15.

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

Wall Street Analyst Weigh In

RKLB has been the subject of several recent research reports. Wells Fargo & Company lowered their price target on Rocket Lab from $21.00 to $18.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 8th. Bank of America boosted their price target on Rocket Lab from $30.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday. Citigroup reissued a “buy” rating and issued a $50.00 price target (up previously from $33.00) on shares of Rocket Lab in a research note on Monday. Roth Capital raised their price objective on Rocket Lab from $25.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, May 28th. Finally, Needham & Company LLC boosted their target price on Rocket Lab from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, May 28th. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $34.10.

Insider Buying and Selling

In other news, insider Frank Klein sold 2,546 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 $76,380.00. Following the sale, the insider owned 1,365,826 shares in the company, valued at $40,974,780. This represents a 0.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Merline Saintil sold 6,353 shares of Rocket Lab stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $33.38, for a total value of $212,063.14. Following the transaction, the director owned 419,569 shares of the company’s stock, valued at $14,005,213.22. This represents a 1.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have 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.