Leonteq Securities AG Has $825,000 Stock Holdings in Rocket Lab Corporation $RKLB

Leonteq Securities AG grew its holdings in Rocket Lab Corporation (NASDAQ:RKLBFree Report) by 80.8% in the 1st quarter, HoldingsChannel.com reports. The fund owned 12,848 shares of the rocket manufacturer’s stock after purchasing an additional 5,743 shares during the quarter. Leonteq Securities AG’s holdings in Rocket Lab were worth $825,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Aventura Private Wealth LLC bought a new position in shares of Rocket Lab during the 4th quarter valued at $25,000. Mcguire Capital Advisors Inc. bought a new stake in Rocket Lab in the fourth quarter worth $27,000. Zions Bancorporation National Association UT acquired a new position in Rocket Lab during the fourth quarter worth $28,000. EverSource Wealth Advisors LLC increased its position 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 Rocket Lab during the fourth quarter worth $29,000. Institutional investors and hedge funds own 71.78% of the company’s stock.

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Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Craig Hallum boosted their price target on Rocket Lab from $98.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday. Wells Fargo & Company started coverage on Rocket Lab in a report on Wednesday, April 1st. They set an “equal weight” rating and a $60.00 price objective on the stock. Roth Mkm raised their price objective on Rocket Lab from $100.00 to $130.00 and gave the company a “buy” rating in a research note on Monday. KeyCorp upgraded Rocket Lab from a “sector weight” rating to an “overweight” rating and set a $135.00 target price for the company in a report on Monday, June 15th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rocket Lab in a research report on Tuesday, April 21st. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $108.24.

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Rocket Lab Stock Performance

Shares of RKLB opened at $100.46 on Friday. The company has a market capitalization of $58.14 billion, a PE ratio of -313.94 and a beta of 2.54. Rocket Lab Corporation has a one year low of $35.25 and a one year high of $151.00. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.47 and a quick ratio of 4.02. The company’s fifty day moving average price is $108.81 and its 200 day moving average price is $86.34.

Rocket Lab (NASDAQ:RKLBGet Free Report) last released its quarterly earnings results on Thursday, May 7th. The rocket manufacturer reported ($0.07) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.07). The company had revenue of $200.35 million during the quarter, compared to analysts’ expectations of $189.65 million. Rocket Lab had a negative net margin of 26.87% and a negative return on equity of 11.72%. The business’s quarterly revenue 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, analysts expect that Rocket Lab Corporation will post -0.29 earnings per share for the current year.

Insiders Place Their Bets

In other Rocket Lab news, CFO Adam C. Spice sold 62,744 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 value of $8,945,412.08. Following the sale, the chief financial officer owned 983,049 shares of the company’s stock, valued at $140,153,295.93. This trade represents a 6.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 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. Also, SVP Arjun Kampani sold 88,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $107.98, for a total value of $9,502,240.00. Following the completion of the sale, the senior vice president directly owned 264,705 shares in the company, valued at $28,582,845.90. This trade represents a 24.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 573,515 shares of company stock valued at $76,412,122. Company insiders own 8.40% of the company’s stock.

Rocket Lab Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Rocket Lab (NASDAQ:RKLB)

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