Clear Street Group Inc. Invests $29.80 Million in Rocket Lab Corporation $RKLB

Clear Street Group Inc. purchased a new position in shares of Rocket Lab Corporation (NASDAQ:RKLB) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 622,000 shares of the rocket manufacturer’s stock, valued at approximately $29,800,000.

Several other large investors have also bought and sold shares of the business. Wilmington Savings Fund Society FSB bought a new position in Rocket Lab in the third quarter valued at approximately $25,000. Hara Capital LLC bought a new stake in shares of Rocket Lab during the 3rd quarter valued at $25,000. UMB Bank n.a. raised its position in shares of Rocket Lab by 352.5% during the 3rd quarter. UMB Bank n.a. now owns 543 shares of the rocket manufacturer’s stock valued at $26,000 after acquiring an additional 423 shares during the last quarter. Sound Income Strategies LLC acquired a new position in shares of Rocket Lab in the 3rd quarter valued at $27,000. Finally, Financial Consulate Inc. acquired a new position in shares of Rocket Lab in the 3rd quarter valued at $35,000. 71.78% of the stock is currently owned by institutional investors and hedge funds.

Rocket Lab Price Performance

RKLB opened at $68.41 on Friday. The stock has a market cap of $36.54 billion, a P/E ratio of -184.89 and a beta of 2.20. Rocket Lab Corporation has a 12 month low of $14.71 and a 12 month high of $99.58. The company has a quick ratio of 3.61, a current ratio of 4.08 and a debt-to-equity ratio of 0.10. The company has a fifty day simple moving average of $77.46 and a 200 day simple moving average of $62.97.

Analyst Ratings Changes

A number of equities research analysts recently commented on RKLB shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $85.00 price objective on shares of Rocket Lab in a research note on Friday. The Goldman Sachs Group increased their target price on Rocket Lab from $47.00 to $69.00 and gave the company a “neutral” rating in a research note on Tuesday, January 20th. KeyCorp cut Rocket Lab from an “overweight” rating to a “sector weight” rating in a report on Thursday, January 15th. Wall Street Zen upgraded Rocket Lab from a “sell” rating to a “hold” rating in a research report on Sunday, February 8th. Finally, Zacks Research downgraded shares of Rocket Lab from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 10th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $75.92.

Insider Transactions at Rocket Lab

In other news, CFO Adam C. Spice sold 1,365,665 shares of the firm’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $75.50, for a total transaction of $103,107,707.50. Following the sale, the chief financial officer owned 1,359,568 shares of the company’s stock, valued at $102,647,384. This trade represents a 50.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Peter Beck sold 1,560,254 shares of Rocket Lab stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $57.47, for a total value of $89,667,797.38. Following the transaction, the chief executive officer owned 939,746 shares in the company, valued at $54,007,202.62. This trade represents a 62.41% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 4,347,428 shares of company stock valued at $280,080,579. Insiders own 11.90% of the company’s stock.

Rocket Lab Company 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.