Ellevest Inc. Acquires 5,156 Shares of Rocket Lab Corporation $RKLB

Ellevest Inc. lifted its holdings in Rocket Lab Corporation (NASDAQ:RKLB) by 48.5% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 15,784 shares of the rocket manufacturer’s stock after acquiring an additional 5,156 shares during the quarter. Ellevest Inc.’s holdings in Rocket Lab were worth $565,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Truist Financial Corp lifted its holdings 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 worth $442,000 after acquiring an additional 234 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Rocket Lab by 36.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,518 shares of the rocket manufacturer’s stock worth $54,000 after acquiring an additional 405 shares during the last quarter. Allworth Financial LP lifted its holdings in shares of Rocket Lab by 4.0% in the 1st quarter. Allworth Financial LP now owns 11,888 shares of the rocket manufacturer’s stock worth $213,000 after acquiring an additional 458 shares during the last quarter. Atria Wealth Solutions Inc. raised its holdings in Rocket Lab by 1.4% during the 1st quarter. Atria Wealth Solutions Inc. now owns 35,085 shares of the rocket manufacturer’s stock valued at $627,000 after buying an additional 500 shares during the last quarter. Finally, CWM LLC raised its holdings in Rocket Lab by 7.0% during the 2nd quarter. CWM LLC now owns 8,491 shares of the rocket manufacturer’s stock valued at $304,000 after buying an additional 556 shares during the last quarter. 71.78% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on RKLB. Bank of America upped their price target on shares of Rocket Lab from $30.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, July 16th. Needham & Company LLC reiterated a “buy” rating and set a $55.00 price target on shares of Rocket Lab in a report on Wednesday, September 3rd. Craig Hallum began coverage on shares of Rocket Lab in a report on Monday, July 28th. They set a “hold” rating and a $51.00 price target for the company. KeyCorp upped their price target on shares of Rocket Lab from $50.00 to $75.00 and gave the company an “overweight” rating in a report on Friday, October 17th. Finally, Stifel Nicolaus boosted their price objective on shares of Rocket Lab from $34.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Rocket Lab currently has a consensus rating of “Moderate Buy” and an average target price of $51.75.

Rocket Lab Stock Down 0.3%

Shares of Rocket Lab stock opened at $56.42 on Thursday. The company has a current ratio of 2.67, a quick ratio of 2.33 and a debt-to-equity ratio of 0.60. The company’s fifty day simple moving average is $55.54 and its two-hundred day simple moving average is $41.51. The company has a market cap of $27.31 billion, a P/E ratio of -125.38 and a beta of 2.16. Rocket Lab Corporation has a 12-month low of $12.07 and a 12-month high of $73.97.

Rocket Lab (NASDAQ:RKLB) last issued its quarterly earnings data on Thursday, August 7th. The rocket manufacturer reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.06). The company had revenue of $144.50 million for the quarter, compared to analysts’ expectations of $135.42 million. Rocket Lab had a negative net margin of 45.87% and a negative return on equity of 48.14%. The firm’s revenue for the quarter was up 35.9% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.08) earnings per share. Research analysts anticipate that Rocket Lab Corporation will post -0.38 EPS for the current year.

Insider Transactions at Rocket Lab

In other news, insider Frank Klein sold 4,286 shares of the company’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $47.72, for a total value of $204,527.92. Following the sale, the insider directly owned 1,316,005 shares of the company’s stock, valued at $62,799,758.60. This represents a 0.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Arjun Kampani sold 9,416 shares of the company’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $47.70, for a total transaction of $449,143.20. Following the completion of the sale, the senior vice president directly owned 489,629 shares in the company, valued at $23,355,303.30. This represents a 1.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 5,406,361 shares of company stock worth $267,483,973. 11.90% of the stock is owned by insiders.

Rocket Lab 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.