Polianta Ltd Takes Position in Rocket Lab Corporation $RKLB

Polianta Ltd purchased a new position in Rocket Lab Corporation (NASDAQ:RKLB) in the third quarter, Holdings Channel reports. The fund purchased 32,400 shares of the rocket manufacturer’s stock, valued at approximately $1,552,000. Rocket Lab accounts for 0.6% of Polianta Ltd’s holdings, making the stock its 24th biggest holding.

Other institutional investors also recently bought and sold shares of the company. Kingstone Capital Partners Texas LLC acquired a new position in Rocket Lab during the second quarter worth $192,918,000. Sender Co & Partners Inc. acquired a new position in shares of Rocket Lab during the 1st quarter worth about $621,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Rocket Lab by 44.7% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 992,777 shares of the rocket manufacturer’s stock valued at $35,512,000 after buying an additional 306,713 shares in the last quarter. Orion Porfolio Solutions LLC acquired a new stake in Rocket Lab in the 2nd quarter worth about $1,009,000. Finally, McGuire Investment Group LLC increased its stake in Rocket Lab by 91.3% during the 2nd quarter. McGuire Investment Group LLC now owns 196,107 shares of the rocket manufacturer’s stock worth $7,015,000 after buying an additional 93,613 shares in the last quarter. 71.78% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Citigroup reaffirmed a “market perform” rating on shares of Rocket Lab in a research note on Wednesday, November 12th. Bank of America upped their target price on shares of Rocket Lab from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, November 19th. Morgan Stanley reduced their target price on shares of Rocket Lab from $68.00 to $67.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Rocket Lab in a research note on Wednesday, October 8th. Finally, Robert W. Baird started coverage on shares of Rocket Lab in a research note on Wednesday, October 15th. They set an “outperform” rating and a $83.00 price objective for the company. 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 issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $61.25.

Rocket Lab Price Performance

Rocket Lab stock opened at $76.55 on Friday. The company has a current ratio of 3.18, a quick ratio of 2.83 and a debt-to-equity ratio of 0.32. The stock has a market cap of $40.89 billion, a P/E ratio of -201.45 and a beta of 2.20. The company has a 50-day moving average price of $55.27 and a 200 day moving average price of $48.43. Rocket Lab Corporation has a 12-month low of $14.71 and a 12-month high of $79.83.

Rocket Lab (NASDAQ:RKLB) last announced its quarterly earnings results on Monday, November 10th. The rocket manufacturer reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. The business had revenue of $155.08 million during 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%. The business’s revenue was up 48.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.10) EPS. Sell-side analysts anticipate that Rocket Lab Corporation will post -0.38 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Merline Saintil sold 5,000 shares of the company’s stock in a transaction on Friday, December 19th. The stock was sold at an average price of $65.00, for a total value of $325,000.00. Following the transaction, the director owned 388,529 shares of the company’s stock, valued at $25,254,385. This represents a 1.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Nina Armagno sold 27,314 shares of the business’s stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $68.21, for a total transaction of $1,863,087.94. Following the completion of the sale, the director owned 108,940 shares in the company, valued at approximately $7,430,797.40. This trade represents a 20.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 2,729,485 shares of company stock valued at $151,832,870. 11.90% of the stock is currently owned by company insiders.

About Rocket Lab

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.