Wealthfront Advisers LLC Has $12.30 Million Stock Position in Rocket Lab Corporation $RKLB

Wealthfront Advisers LLC lifted its stake in Rocket Lab Corporation (NASDAQ:RKLB) by 62.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 191,529 shares of the rocket manufacturer’s stock after purchasing an additional 73,867 shares during the period. Wealthfront Advisers LLC’s holdings in Rocket Lab were worth $12,300,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in RKLB. Aventura Private Wealth LLC bought a new stake in Rocket Lab in the fourth quarter valued at about $25,000. Mcguire Capital Advisors Inc. acquired a new position in Rocket Lab in the fourth quarter valued at about $27,000. Zions Bancorporation National Association UT bought a new position in Rocket Lab during the fourth quarter worth about $28,000. EverSource Wealth Advisors LLC boosted its holdings in Rocket Lab by 109.5% during the second quarter. EverSource Wealth Advisors LLC now owns 796 shares of the rocket manufacturer’s stock worth $28,000 after buying an additional 416 shares during the last quarter. Finally, Gordian Capital Singapore Pte Ltd acquired a new position in shares of Rocket Lab during the 4th quarter worth about $29,000. 71.78% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Rocket Lab

Here are the key news stories impacting Rocket Lab this week:

• Positive Sentiment: Rocket Lab continues to report strong business momentum, including rapid revenue growth, a large backlog, and progress toward becoming an end-to-end space company. The company is also building out launch infrastructure and expanding its defense-related opportunity set, including potential upside from the Space Force’s NSSL launch program if Neutron succeeds. Article Title
• Positive Sentiment: Analysts have pointed to Rocket Lab’s recent acquisitions and growing position in the space industry as reasons for long-term optimism, with some still maintaining bullish views despite the selloff. Article Title
• Neutral Sentiment: Several articles are comparing Rocket Lab with peers like AST SpaceMobile and SpaceX, reinforcing that RKLB remains a high-profile name in a speculative sector, but not providing a major new company-specific catalyst. Article Title
• Negative Sentiment: Piper Sandler initiated coverage with a Neutral rating and an $83 price target, which disappointed some investors and added to pressure on the shares. Article Title
• Negative Sentiment: Investors are also reacting to concerns about dilution, a recent CEO share sale, and the stock’s stretched valuation after a huge run earlier in the year. Several commentaries now argue that space stocks, including Rocket Lab, may be too speculative at current levels. Article Title

Rocket Lab Stock Down 11.6%

NASDAQ:RKLB opened at $67.35 on Friday. Rocket Lab Corporation has a 1 year low of $37.57 and a 1 year high of $151.00. The company has a current ratio of 4.47, a quick ratio of 4.02 and a debt-to-equity ratio of 0.02. The stock has a market cap of $38.98 billion, a price-to-earnings ratio of -210.47 and a beta of 2.54. The stock has a 50-day moving average price of $108.73 and a two-hundred day moving average price of $87.29.

Rocket Lab (NASDAQ:RKLB) last announced its quarterly earnings results on Thursday, May 7th. The rocket manufacturer reported ($0.07) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.07). The company had revenue of $200.35 million during the quarter, compared to the consensus estimate of $189.65 million. Rocket Lab had a negative return on equity of 11.72% and a negative net margin of 26.87%.The company’s revenue for the quarter was up 63.4% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.12) earnings per share. As a group, equities analysts expect that Rocket Lab Corporation will post -0.26 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Alexander R. Slusky sold 100,000 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $118.08, for a total transaction of $11,808,000.00. Following the completion of the sale, the director directly owned 434,675 shares of the company’s stock, valued at approximately $51,326,424. This represents a 18.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Frank Klein sold 44,390 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $142.57, for a total transaction of $6,328,682.30. Following the sale, the insider owned 1,043,847 shares in the company, valued at $148,821,266.79. This trade represents a 4.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 3,849,294 shares of company stock worth $362,816,208 in the last three months. 8.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on RKLB. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rocket Lab in a research note on Tuesday, April 21st. Morgan Stanley reissued an “overweight” rating on shares of Rocket Lab in a research note on Wednesday, July 8th. New Street Research started coverage on shares of Rocket Lab in a report on Wednesday, May 13th. They set a “buy” rating and a $150.00 price objective for the company. Bank of America boosted their price objective on shares of Rocket Lab from $105.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, June 30th. Finally, Wells Fargo & Company initiated coverage on shares of Rocket Lab in a research note on Wednesday, April 1st. They issued an “equal weight” rating and a $60.00 target price for the company. Three research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $110.18.

Rocket Lab Profile

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.