Shares of Rocket Lab Corporation (NASDAQ:RKLB – Get Free Report) shot up 3.2% on Wednesday . The stock traded as high as $111.34 and last traded at $107.98. 28,460,084 shares traded hands during trading, an increase of 17% from the average session volume of 24,408,404 shares. The stock had previously closed at $104.63.
More Rocket Lab News
Here are the key news stories impacting Rocket Lab this week:
- Positive Sentiment: Rocket Lab’s inclusion in the Nasdaq-100 should increase visibility and could drive buying from index funds and benchmarked portfolios. Rocket Lab (RKLB) to Join Nasdaq-100 Index on June 22
- Positive Sentiment: Analyst upgrades and raised targets helped fuel the move, reinforcing sentiment that Rocket Lab remains one of the stronger growth names in the space sector. Why Rocket Lab (RKLB) Stock Is Up Today
- Positive Sentiment: Optimism around Rocket Lab’s long-term growth story is being supported by commentary highlighting defense demand, backlog visibility, and vertical integration. Planet Labs vs. Rocket Lab: Which Space Stock Has an Edge?
- Neutral Sentiment: Some articles focused on broader space-sector comparisons and the SpaceX IPO, which may be influencing trading psychology but do not directly change Rocket Lab’s business outlook. Gravity Check: Houston, SpaceX Has a Valuation Problem
- Negative Sentiment: Several headlines noted a pullback from recent highs as the stock’s sharp rally pauses and investors rotate attention toward SpaceX and other space names. Rocket Lab Stock Pulls Back Tuesday: What’s Going On?
Analysts Set New Price Targets
Several brokerages recently weighed in on RKLB. Wells Fargo & Company started coverage on Rocket Lab in a research report on Wednesday, April 1st. They set an “equal weight” rating and a $60.00 price target for the company. Clear Str upgraded Rocket Lab to a “strong-buy” rating in a research report on Wednesday, March 18th. Cantor Fitzgerald restated an “overweight” rating on shares of Rocket Lab in a research report on Wednesday, May 27th. Stifel Nicolaus set a $132.00 price objective on Rocket Lab in a research report on Thursday, June 4th. Finally, Roth Mkm boosted their price objective on Rocket Lab from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, April 17th. Three analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $102.76.
Rocket Lab Price Performance
The firm has a market capitalization of $62.49 billion, a PE ratio of -337.44 and a beta of 2.49. The stock has a 50-day moving average price of $103.19 and a 200 day moving average price of $82.22. The company has a quick ratio of 4.02, a current ratio of 4.47 and a debt-to-equity ratio of 0.02.
Rocket Lab (NASDAQ:RKLB – Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The rocket manufacturer reported ($0.07) EPS for the quarter, hitting the consensus estimate of ($0.07). Rocket Lab had a negative return on equity of 11.72% and a negative net margin of 26.87%.The firm had revenue of $200.35 million during the quarter, compared to analysts’ expectations of $189.65 million. During the same period in the previous year, the business earned ($0.12) earnings per share. The firm’s revenue for the quarter was up 63.4% on a year-over-year basis. Equities analysts forecast that Rocket Lab Corporation will post -0.29 EPS for the current fiscal year.
Insider Activity
In related news, SVP Arjun Kampani sold 23,804 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $147.43, for a total transaction of $3,509,423.72. Following the completion of the sale, the senior vice president directly owned 352,705 shares in the company, valued at approximately $51,999,298.15. The trade was a 6.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Alexander R. Slusky sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $123.60, for a total value of $4,944,000.00. Following the sale, the director owned 334,675 shares of the company’s stock, valued at $41,365,830. The trade was a 10.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 485,515 shares of company stock valued at $66,909,882 in the last three months. Company insiders own 8.40% of the company’s stock.
Institutional Trading of Rocket Lab
Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Rocket Lab by 13.4% during the fourth quarter. Vanguard Group Inc. now owns 47,420,192 shares of the rocket manufacturer’s stock worth $3,308,033,000 after purchasing an additional 5,610,469 shares in the last quarter. Baillie Gifford & Co. grew its holdings in Rocket Lab by 47.2% in the 4th quarter. Baillie Gifford & Co. now owns 17,851,446 shares of the rocket manufacturer’s stock valued at $1,245,317,000 after buying an additional 5,725,536 shares in the last quarter. Capital World Investors grew its holdings in Rocket Lab by 12.0% in the 4th quarter. Capital World Investors now owns 16,200,726 shares of the rocket manufacturer’s stock valued at $1,130,172,000 after buying an additional 1,738,623 shares in the last quarter. State Street Corp grew its holdings in Rocket Lab by 1.0% in the 4th quarter. State Street Corp now owns 12,520,223 shares of the rocket manufacturer’s stock valued at $873,411,000 after buying an additional 120,652 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Rocket Lab by 10.1% in the 4th quarter. Geode Capital Management LLC now owns 9,004,724 shares of the rocket manufacturer’s stock valued at $626,605,000 after buying an additional 825,158 shares in the last quarter. 71.78% of the stock is currently owned by hedge funds and other institutional investors.
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.
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