Strs Ohio Has $1.10 Million Stake in Rocket Lab Corporation $RKLB

Strs Ohio reduced its position in shares of Rocket Lab Corporation (NASDAQ:RKLB) by 52.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,681 shares of the rocket manufacturer’s stock after selling 33,619 shares during the quarter. Strs Ohio’s holdings in Rocket Lab were worth $1,097,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Truist Financial Corp raised its position in Rocket Lab by 1.9% during the second quarter. Truist Financial Corp now owns 12,352 shares of the rocket manufacturer’s stock valued at $442,000 after buying an additional 234 shares during the period. GAMMA Investing LLC increased 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 valued at $54,000 after purchasing an additional 405 shares during the period. Allworth Financial LP increased 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 valued at $213,000 after purchasing an additional 458 shares during the period. Atria Wealth Solutions Inc. lifted its position in shares of Rocket Lab by 1.4% in the first quarter. Atria Wealth Solutions Inc. now owns 35,085 shares of the rocket manufacturer’s stock worth $627,000 after purchasing an additional 500 shares in the last quarter. Finally, CWM LLC boosted its holdings in shares of Rocket Lab by 7.0% during the second quarter. CWM LLC now owns 8,491 shares of the rocket manufacturer’s stock worth $304,000 after purchasing an additional 556 shares during the period. Institutional investors and hedge funds own 71.78% of the company’s stock.

Insider Transactions at Rocket Lab

In other Rocket Lab news, CEO Peter Beck sold 1,436,442 shares of the business’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $48.75, for a total transaction of $70,026,547.50. Following the completion of the transaction, the chief executive officer owned 2,500,000 shares of the company’s stock, valued at $121,875,000. The trade was a 36.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Arjun Kampani sold 9,416 shares of the company’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $47.70, for a total transaction of $449,143.20. Following the sale, the senior vice president owned 489,629 shares of the company’s stock, valued at $23,355,303.30. This trade represents a 1.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 5,406,361 shares of company stock worth $267,483,973. 11.90% of the stock is currently owned by company insiders.

Rocket Lab Trading Down 12.1%

Shares of NASDAQ:RKLB opened at $49.61 on Friday. 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 stock has a market capitalization of $24.01 billion, a PE ratio of -110.24 and a beta of 2.16. Rocket Lab Corporation has a 1 year low of $12.90 and a 1 year high of $73.97. The firm has a fifty day moving average price of $55.57 and a 200 day moving average price of $41.56.

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on RKLB shares. Roth Capital reiterated a “buy” rating on shares of Rocket Lab in a research note on Friday, August 29th. Craig Hallum started coverage on shares of Rocket Lab in a research note on Monday, July 28th. They issued a “hold” rating and a $51.00 price target on the stock. Cantor Fitzgerald increased their price objective on Rocket Lab from $35.00 to $54.00 and gave the stock an “overweight” rating in a report on Friday, August 8th. KeyCorp boosted their target price on Rocket Lab from $50.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, October 17th. Finally, Citigroup reiterated a “buy” rating and set a $50.00 price target (up from $33.00) on shares of Rocket Lab in a report on Monday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Rocket Lab has a consensus rating of “Moderate Buy” and a consensus price target of $51.75.

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.