Banque Cantonale Vaudoise Takes Position in Rocket Lab Corporation $RKLB

Banque Cantonale Vaudoise bought a new stake in Rocket Lab Corporation (NASDAQ:RKLB) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 15,863 shares of the rocket manufacturer’s stock, valued at approximately $1,106,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Baillie Gifford & Co. raised its stake in Rocket Lab by 176.1% during the 3rd quarter. Baillie Gifford & Co. now owns 12,125,910 shares of the rocket manufacturer’s stock valued at $580,952,000 after acquiring an additional 7,734,788 shares during the last quarter. Vanguard Group Inc. raised its stake in Rocket Lab by 13.4% during the 4th quarter. Vanguard Group Inc. now owns 47,420,192 shares of the rocket manufacturer’s stock valued at $3,308,033,000 after acquiring an additional 5,610,469 shares during the last quarter. Alliancebernstein L.P. raised its stake in Rocket Lab by 818.8% during the 3rd quarter. Alliancebernstein L.P. now owns 2,190,132 shares of the rocket manufacturer’s stock valued at $104,929,000 after acquiring an additional 1,951,755 shares during the last quarter. Amundi raised its stake in Rocket Lab by 308.4% during the 3rd quarter. Amundi now owns 2,301,568 shares of the rocket manufacturer’s stock valued at $110,268,000 after acquiring an additional 1,738,038 shares during the last quarter. Finally, State Street Corp raised its stake in Rocket Lab by 13.6% during the 3rd quarter. State Street Corp now owns 12,399,571 shares of the rocket manufacturer’s stock valued at $594,063,000 after acquiring an additional 1,487,237 shares during the last quarter. 71.78% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Adam C. Spice sold 62,744 shares of the stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $69.59, for a total value of $4,366,354.96. Following the transaction, the chief financial officer directly owned 1,296,824 shares of the company’s stock, valued at approximately $90,245,982.16. This trade represents a 4.61% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Arjun Kampani sold 28,761 shares of the stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $69.59, for a total value of $2,001,477.99. Following the completion of the transaction, the senior vice president directly owned 421,699 shares in the company, valued at $29,346,033.41. This trade represents a 6.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 333,449 shares of company stock worth $28,295,233. Corporate insiders own 8.40% of the company’s stock.

Analysts Set New Price Targets

RKLB has been the subject of several analyst reports. Zacks Research downgraded Rocket Lab from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 10th. Wells Fargo & Company initiated coverage on Rocket Lab in a research note on Wednesday, April 1st. They set an “equal weight” rating and a $60.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rocket Lab in a research note on Tuesday, April 21st. Clear Str upgraded Rocket Lab to a “strong-buy” rating in a research report on Wednesday, March 18th. Finally, Citizens Jmp boosted their target price on Rocket Lab from $85.00 to $95.00 and gave the stock a “market outperform” rating in a research report on Friday, May 8th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $97.19.

Rocket Lab Trading Up 8.2%

Shares of Rocket Lab stock opened at $135.76 on Friday. Rocket Lab Corporation has a fifty-two week low of $24.67 and a fifty-two week high of $139.76. The firm has a market cap of $78.57 billion, a PE ratio of -424.25 and a beta of 2.30. The business’s fifty day moving average is $84.84 and its two-hundred day moving average is $73.16. 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) last issued its quarterly earnings results on Thursday, May 7th. The rocket manufacturer reported ($0.07) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.07). Rocket Lab had a negative return on equity of 11.72% and a negative net margin of 26.87%.The company had revenue of $200.35 million for the quarter, compared to analyst estimates of $189.65 million. During the same quarter in the prior year, the company posted ($0.12) EPS. The business’s revenue for the quarter was up 63.4% compared to the same quarter last year. Analysts anticipate that Rocket Lab Corporation will post -0.29 earnings per share for the current year.

More Rocket Lab News

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

• Positive Sentiment: Rocket Lab won a $90 million Space Force contract, which expands its satellite business into geostationary orbit and adds a meaningful new source of revenue. Article Title
• Positive Sentiment: The company completed its 9th Electron launch for Synspective, underscoring strong execution and a durable commercial launch partnership. Article Title
• Neutral Sentiment: Broader space-stock momentum and renewed interest ahead of SpaceX’s IPO are also lifting sentiment across the sector, including RKLB. Article Title
• Negative Sentiment: Some investors remain wary after Rocket Lab’s recent announcement of a potential $3 billion share-sale program, which raised dilution concerns earlier in the week. Article Title

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.