Federated Hermes Inc. Has $35.22 Million Stake in Rocket Lab Corporation $RKLB

Federated Hermes Inc. increased its position in Rocket Lab Corporation (NASDAQ:RKLB) by 283.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 735,203 shares of the rocket manufacturer’s stock after buying an additional 543,429 shares during the period. Federated Hermes Inc. owned 0.15% of Rocket Lab worth $35,224,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. AQR Capital Management LLC grew its position in Rocket Lab by 114.0% in the first quarter. AQR Capital Management LLC now owns 174,308 shares of the rocket manufacturer’s stock worth $3,117,000 after acquiring an additional 92,849 shares in the last quarter. NewEdge Advisors LLC lifted its stake in shares of Rocket Lab by 1,812.1% in the 1st quarter. NewEdge Advisors LLC now owns 36,807 shares of the rocket manufacturer’s stock valued at $658,000 after purchasing an additional 34,882 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in Rocket Lab by 53.8% in the first quarter. Jones Financial Companies Lllp now owns 15,745 shares of the rocket manufacturer’s stock worth $282,000 after purchasing an additional 5,507 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Rocket Lab by 13.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 773,548 shares of the rocket manufacturer’s stock worth $13,831,000 after buying an additional 90,758 shares during the last quarter. Finally, Focus Partners Wealth raised its holdings in Rocket Lab by 1.0% during the first quarter. Focus Partners Wealth now owns 67,584 shares of the rocket manufacturer’s stock valued at $1,206,000 after buying an additional 681 shares in the last quarter. Institutional investors own 71.78% of the company’s stock.

Insider Buying and Selling at Rocket Lab

In other Rocket Lab news, CFO Adam C. Spice sold 1,365,665 shares of the stock in a transaction on Monday, January 5th. The stock was sold at an average price of $75.50, for a total transaction of $103,107,707.50. Following the completion of the transaction, the chief financial officer directly owned 1,359,568 shares in the company, valued at $102,647,384. This represents a 50.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Merline Saintil sold 96,000 shares of Rocket Lab stock in a transaction on Tuesday, January 13th. The shares were sold at an average price of $86.58, for a total value of $8,311,680.00. Following the transaction, the director directly owned 292,529 shares of the company’s stock, valued at approximately $25,327,160.82. The trade was a 24.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 4,306,150 shares of company stock worth $271,865,732 over the last three months. 11.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on RKLB shares. TD Cowen reiterated a “buy” rating on shares of Rocket Lab in a research note on Thursday, January 22nd. KeyCorp lowered Rocket Lab from an “overweight” rating to a “sector weight” rating in a report on Thursday, January 15th. The Goldman Sachs Group increased their price target on Rocket Lab from $47.00 to $69.00 and gave the company a “neutral” rating in a report on Tuesday, January 20th. Robert W. Baird upgraded shares of Rocket Lab to a “strong-buy” rating in a research note on Thursday, October 16th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rocket Lab in a report on Thursday, January 22nd. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Rocket Lab presently has an average rating of “Moderate Buy” and a consensus price target of $72.92.

Rocket Lab Trading Down 3.3%

Shares of Rocket Lab stock opened at $85.68 on Friday. Rocket Lab Corporation has a 52-week low of $14.71 and a 52-week high of $99.58. The firm has a market capitalization of $45.77 billion, a PE ratio of -225.47 and a beta of 2.16. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.18 and a quick ratio of 2.83. The company’s fifty day moving average price is $69.11 and its two-hundred day moving average price is $57.26.

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

Rocket Lab Company 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.