PNC Financial Services Group Inc. Purchases 1,880 Shares of Rocket Lab Corporation $RKLB

PNC Financial Services Group Inc. raised its position in shares of Rocket Lab Corporation (NASDAQ:RKLB) by 9.7% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 21,232 shares of the rocket manufacturer’s stock after purchasing an additional 1,880 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Rocket Lab were worth $759,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Atlantic Union Bankshares Corp bought a new stake in shares of Rocket Lab in the second quarter worth about $36,000. ORG Partners LLC lifted its holdings in Rocket Lab by 491.9% in the 2nd quarter. ORG Partners LLC now owns 1,095 shares of the rocket manufacturer’s stock worth $38,000 after buying an additional 910 shares during the period. Golden State Wealth Management LLC lifted its holdings in Rocket Lab by 3,250.0% in the 2nd quarter. Golden State Wealth Management LLC now owns 1,340 shares of the rocket manufacturer’s stock worth $48,000 after buying an additional 1,300 shares during the period. GAMMA Investing LLC grew its position in shares of Rocket Lab by 36.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,518 shares of the rocket manufacturer’s stock worth $54,000 after buying an additional 405 shares during the last quarter. Finally, Spectrum Wealth Counsel LLC increased its stake in shares of Rocket Lab by 100.0% during the first quarter. Spectrum Wealth Counsel LLC now owns 2,000 shares of the rocket manufacturer’s stock valued at $36,000 after buying an additional 1,000 shares during the period. 71.78% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on RKLB shares. Wall Street Zen raised Rocket Lab from a “strong sell” rating to a “hold” rating in a research note on Saturday, November 15th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $75.00 target price (up from $65.00) on shares of Rocket Lab in a research report on Tuesday, November 11th. Cantor Fitzgerald boosted their price target on shares of Rocket Lab from $35.00 to $54.00 and gave the company an “overweight” rating in a research report on Friday, August 8th. Bank of America increased their price target on shares of Rocket Lab from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Citigroup reaffirmed a “market perform” rating on shares of Rocket Lab in a research report on Wednesday, November 12th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $58.17.

Rocket Lab Trading Up 2.1%

Shares of NASDAQ RKLB opened at $40.30 on Friday. Rocket Lab Corporation has a 1 year low of $14.71 and a 1 year high of $73.97. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.18 and a quick ratio of 2.83. The firm has a 50-day moving average of $55.24 and a 200 day moving average of $43.43. The stock has a market cap of $19.50 billion, a P/E ratio of -106.05 and a beta of 2.16.

Rocket Lab (NASDAQ:RKLB) last announced its quarterly earnings data on Monday, November 10th. The rocket manufacturer reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. Rocket Lab had a negative net margin of 35.64% and a negative return on equity of 27.26%. The business had revenue of $155.08 million for the quarter, compared to analysts’ expectations of $152.45 million. During the same quarter in the prior year, the company earned ($0.10) earnings per share. The business’s revenue was up 48.0% compared to the same quarter last year. Rocket Lab has set its Q4 2025 guidance at EPS. As a group, sell-side analysts expect that Rocket Lab Corporation will post -0.38 EPS for the current fiscal year.

Insider Activity at Rocket Lab

In related news, Director Matthew Ocko sold 1,873,097 shares of the firm’s stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $48.20, for a total transaction of $90,283,275.40. Following the completion of the transaction, the director owned 541,526 shares of the company’s stock, valued at $26,101,553.20. This trade represents a 77.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Arjun Kampani sold 31,185 shares of the business’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $48.97, for a total value of $1,527,129.45. Following the completion of the sale, the senior vice president directly owned 499,045 shares in the company, valued at $24,438,233.65. This trade represents a 5.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 5,406,361 shares of company stock worth $267,483,973 over the last quarter. 11.90% of the stock is currently owned by company insiders.

Rocket Lab Company Profile

Rocket Lab USA, Inc, a space company, provides launch services and space systems solutions for the space and defense industries. The company provides launch services, spacecraft design services, spacecraft components, spacecraft manufacturing, and other spacecraft and on-orbit management solutions; and constellation management services, as well as designs and manufactures small and medium-class rockets.