Metis Global Partners LLC Acquires Shares of 14,394 Rocket Lab Corporation $RKLB

Metis Global Partners LLC bought a new stake in Rocket Lab Corporation (NASDAQ:RKLB) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 14,394 shares of the rocket manufacturer’s stock, valued at approximately $690,000.

Other institutional investors have also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB bought a new stake in Rocket Lab in the 3rd quarter valued at about $25,000. Hara Capital LLC purchased a new position in shares of Rocket Lab in the third quarter worth about $25,000. UMB Bank n.a. raised its position in shares of Rocket Lab by 352.5% in the third quarter. UMB Bank n.a. now owns 543 shares of the rocket manufacturer’s stock valued at $26,000 after purchasing an additional 423 shares during the period. Sound Income Strategies LLC purchased a new stake in shares of Rocket Lab during the 3rd quarter valued at approximately $27,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in Rocket Lab by 109.5% in the 2nd 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 period. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Rocket Lab Price Performance

RKLB stock opened at $69.89 on Wednesday. The firm has a 50 day simple moving average of $76.19 and a two-hundred day simple moving average of $59.70. The stock has a market cap of $37.33 billion, a PE ratio of -183.92 and a beta of 2.16. Rocket Lab Corporation has a one year low of $14.71 and a one year high of $99.58. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.18 and a quick ratio of 2.83.

Wall Street Analyst Weigh In

RKLB has been the topic of several recent research reports. Stifel Nicolaus raised their price target on Rocket Lab from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 22nd. Roth Mkm restated a “buy” rating and issued a $75.00 target price on shares of Rocket Lab in a research note on Tuesday, November 11th. Bank of America upped their price target on Rocket Lab from $60.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, January 20th. Citigroup reissued a “market perform” rating on shares of Rocket Lab in a report on Wednesday, November 12th. Finally, Zacks Research cut shares of Rocket Lab from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 10th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $72.92.

Insider Buying and Selling

In other news, SVP Arjun Kampani sold 28,615 shares of the company’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $40.65, for a total value of $1,163,199.75. Following the completion of the transaction, the senior vice president directly owned 461,014 shares in the company, valued at approximately $18,740,219.10. This represents a 5.84% 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, Director Merline Saintil sold 96,000 shares of the firm’s stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $86.58, for a total value of $8,311,680.00. Following the transaction, the director directly owned 292,529 shares in the company, valued at approximately $25,327,160.82. This represents a 24.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 4,306,150 shares of company stock valued at $271,865,732 in the last three months. 11.90% of the stock is owned by corporate insiders.

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.