Annis Gardner Whiting Capital Advisors LLC Makes New $447,000 Investment in Rocket Lab Corporation $RKLB

Annis Gardner Whiting Capital Advisors LLC bought a new stake in Rocket Lab Corporation (NASDAQ:RKLB) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 9,320 shares of the rocket manufacturer’s stock, valued at approximately $447,000.

Other institutional investors also recently modified their holdings of the company. Baillie Gifford & Co. grew its position in Rocket Lab by 176.1% in the third quarter. Baillie Gifford & Co. now owns 12,125,910 shares of the rocket manufacturer’s stock valued at $580,952,000 after acquiring an additional 7,734,788 shares during the last quarter. Norges Bank acquired a new stake in shares of Rocket Lab in the 2nd quarter valued at approximately $164,751,000. Invesco Ltd. grew its holdings in shares of Rocket Lab by 67.0% during the 2nd quarter. Invesco Ltd. now owns 6,242,304 shares of the rocket manufacturer’s stock valued at $223,287,000 after purchasing an additional 2,504,054 shares during the last quarter. Marex Group plc bought a new stake in shares of Rocket Lab during the 2nd quarter valued at approximately $74,359,000. Finally, HRT Financial LP acquired a new position in Rocket Lab during the 2nd quarter worth approximately $59,410,000. Institutional investors and hedge funds own 71.78% of the company’s stock.

Insider Activity at Rocket Lab

In other news, SVP Arjun Kampani sold 28,615 shares of the firm’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $40.65, for a total value of $1,163,199.75. Following the completion of the sale, the senior vice president directly owned 461,014 shares in the company, valued at $18,740,219.10. This trade represents a 5.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Frank Klein sold 100,000 shares of the business’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $72.95, for a total value of $7,295,000.00. Following the completion of the sale, the insider directly owned 1,169,487 shares of the company’s stock, valued at $85,314,076.65. The trade was a 7.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 4,306,150 shares of company stock worth $271,865,732. 11.90% of the stock is currently owned by insiders.

Rocket Lab Stock Performance

Shares of RKLB stock opened at $85.68 on Friday. The firm has a 50 day moving average of $69.11 and a 200-day moving average of $57.26. The company has a market cap of $45.77 billion, a price-to-earnings ratio of -225.47 and a beta of 2.16. The company has a quick ratio of 2.83, a current ratio of 3.18 and a debt-to-equity ratio of 0.32. Rocket Lab Corporation has a 52 week low of $14.71 and a 52 week high of $99.58.

Rocket Lab (NASDAQ:RKLB) last released its earnings results on Monday, November 10th. The rocket manufacturer reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. The company had revenue of $155.08 million for the quarter, compared to the consensus estimate of $152.45 million. Rocket Lab had a negative net margin of 35.64% and a negative return on equity of 27.26%. Rocket Lab’s quarterly revenue was up 48.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.10) EPS. On average, equities analysts forecast that Rocket Lab Corporation will post -0.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on RKLB. KeyCorp cut shares of Rocket Lab from an “overweight” rating to a “sector weight” rating in a research note on Thursday, January 15th. TD Cowen restated a “buy” rating on shares of Rocket Lab in a research report on Thursday, January 22nd. Bank of America upped their target price on Rocket Lab from $60.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. Citigroup reissued a “market perform” rating on shares of Rocket Lab in a research note on Wednesday, November 12th. Finally, Morgan Stanley raised Rocket Lab from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $67.00 to $105.00 in a research note on Friday, January 16th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $72.92.

Rocket Lab Profile

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.