Rocket Lab Corporation $RKLB Shares Acquired by Farther Finance Advisors LLC

Farther Finance Advisors LLC increased its position in shares of Rocket Lab Corporation (NASDAQ:RKLBFree Report) by 603.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,667 shares of the rocket manufacturer’s stock after buying an additional 12,581 shares during the period. Farther Finance Advisors LLC’s holdings in Rocket Lab were worth $703,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Truist Financial Corp increased its position in shares of Rocket Lab by 1.9% in the 2nd quarter. Truist Financial Corp now owns 12,352 shares of the rocket manufacturer’s stock valued at $442,000 after purchasing an additional 234 shares during the last quarter. Parvin Asset Management LLC grew its stake in shares of Rocket Lab by 7.2% during the second quarter. Parvin Asset Management LLC now owns 3,725 shares of the rocket manufacturer’s stock worth $133,000 after purchasing an additional 250 shares in the last quarter. GAMMA Investing LLC raised its stake in Rocket Lab by 36.4% in the second quarter. GAMMA Investing LLC now owns 1,518 shares of the rocket manufacturer’s stock valued at $54,000 after buying an additional 405 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Rocket Lab by 109.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 796 shares of the rocket manufacturer’s stock worth $28,000 after buying an additional 416 shares during the last quarter. Finally, CWM LLC boosted its position in shares of Rocket Lab by 7.0% during the 2nd quarter. CWM LLC now owns 8,491 shares of the rocket manufacturer’s stock worth $304,000 after acquiring an additional 556 shares in the last quarter. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Rocket Lab Trading Up 0.5%

NASDAQ RKLB opened at $70.45 on Wednesday. The firm’s fifty day moving average is $55.51 and its two-hundred day moving average is $49.64. Rocket Lab Corporation has a one year low of $14.71 and a one year high of $79.83. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.83 and a current ratio of 3.18. The firm has a market cap of $37.63 billion, a PE ratio of -185.39 and a beta of 2.20.

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

Key Headlines Impacting Rocket Lab

Here are the key news stories impacting Rocket Lab this week:

Insider Buying and Selling at Rocket Lab

In other Rocket Lab news, SVP Arjun Kampani sold 10,554 shares of the company’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $42.08, for a total transaction of $444,112.32. Following the completion of the transaction, the senior vice president owned 450,460 shares in the company, valued at approximately $18,955,356.80. This represents a 2.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Edward H. Frank sold 2,500 shares of Rocket Lab 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 completion of the sale, the director directly owned 142,504 shares in the company, valued at approximately $11,028,384.56. The trade was a 1.72% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 2,731,985 shares of company stock valued at $152,026,345. Corporate insiders own 11.90% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on RKLB shares. Roth Capital reissued a “buy” rating and set a $75.00 target price on shares of Rocket Lab in a research report on Tuesday, November 11th. Needham & Company LLC raised their price objective on shares of Rocket Lab from $63.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, December 23rd. Stifel Nicolaus upped their target price on shares of Rocket Lab from $75.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 22nd. Citigroup reaffirmed a “market perform” rating on shares of Rocket Lab in a research report on Wednesday, November 12th. Finally, Bank of America boosted their price target on shares of Rocket Lab from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, November 19th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Rocket Lab has a consensus rating of “Moderate Buy” and an average price target of $61.25.

Get Our Latest Stock Report on Rocket Lab

Rocket Lab Company Profile

(Free Report)

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.

Read More

Want to see what other hedge funds are holding RKLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rocket Lab Corporation (NASDAQ:RKLBFree Report).

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

Receive News & Ratings for Rocket Lab Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rocket Lab and related companies with MarketBeat.com's FREE daily email newsletter.