Tempus Wealth Planning LLC Acquires 8,244 Shares of Rocket Lab Corporation (NASDAQ:RKLB)

Tempus Wealth Planning LLC increased its holdings in Rocket Lab Corporation (NASDAQ:RKLB) by 98.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,657 shares of the rocket manufacturer’s stock after buying an additional 8,244 shares during the quarter. Tempus Wealth Planning LLC’s holdings in Rocket Lab were worth $298,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Natixis Advisors LLC purchased a new position in shares of Rocket Lab during the 4th quarter worth $291,000. Sei Investments Co. lifted its position in Rocket Lab by 167.2% during the fourth quarter. Sei Investments Co. now owns 53,584 shares of the rocket manufacturer’s stock valued at $1,365,000 after purchasing an additional 33,531 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in Rocket Lab during the fourth quarter valued at about $1,709,000. LPL Financial LLC increased its position in Rocket Lab by 89.7% in the fourth quarter. LPL Financial LLC now owns 249,873 shares of the rocket manufacturer’s stock worth $6,364,000 after buying an additional 118,123 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in Rocket Lab by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 36,195,577 shares of the rocket manufacturer’s stock worth $921,901,000 after buying an additional 668,093 shares in the last quarter. 71.78% of the stock is currently owned by institutional investors.

Rocket Lab Stock Down 1.5%

RKLB opened at $47.43 on Friday. The company has a market capitalization of $21.89 billion, a PE ratio of -118.58 and a beta of 2.15. The firm has a 50-day simple moving average of $33.89 and a two-hundred day simple moving average of $26.54. The company has a quick ratio of 1.72, a current ratio of 2.08 and a debt-to-equity ratio of 0.97. Rocket Lab Corporation has a 52 week low of $4.20 and a 52 week high of $53.44.

Rocket Lab (NASDAQ:RKLB) last posted its earnings results on Thursday, May 8th. The rocket manufacturer reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.02). The firm had revenue of $122.57 million during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 32.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.09) earnings per share. Analysts forecast that Rocket Lab Corporation will post -0.38 earnings per share for the current fiscal year.

Insider Transactions at Rocket Lab

In related news, insider Frank Klein sold 2,546 shares of the firm’s stock in a transaction on Monday, June 9th. The shares were sold at an average price of $30.00, for a total value of $76,380.00. Following the completion of the transaction, the insider directly owned 1,365,826 shares of the company’s stock, valued at approximately $40,974,780. This trade represents a 0.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Merline Saintil sold 6,353 shares of the company’s stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $33.38, for a total transaction of $212,063.14. Following the sale, the director directly owned 419,569 shares in the company, valued at approximately $14,005,213.22. The trade was a 1.49% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,130,995 shares of company stock valued at $29,686,039 over the last 90 days. Insiders own 13.70% of the company’s stock.

Wall Street Analyst Weigh In

RKLB has been the subject of a number of recent research reports. Roth Capital boosted 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. Bank of America increased their price objective on shares of Rocket Lab from $30.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, July 16th. Needham & Company LLC lifted their target price on shares of Rocket Lab from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, May 28th. Citigroup reaffirmed a “buy” rating and issued a $50.00 target price (up previously from $33.00) on shares of Rocket Lab in a report on Monday, July 14th. Finally, Stifel Nicolaus increased their price target on Rocket Lab from $29.00 to $34.00 and gave the stock a “buy” rating in a research note 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, Rocket Lab presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.10.

Rocket Lab Company Profile

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.