Sequoia Financial Advisors LLC Buys New Shares in Rocket Lab Corporation $RKLB

Sequoia Financial Advisors LLC bought a new position in Rocket Lab Corporation (NASDAQ:RKLB) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 5,738 shares of the rocket manufacturer’s stock, valued at approximately $275,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Truist Financial Corp grew its position in shares of Rocket Lab by 1.9% during the second quarter. Truist Financial Corp now owns 12,352 shares of the rocket manufacturer’s stock worth $442,000 after purchasing an additional 234 shares in the last quarter. ORG Partners LLC boosted its stake in Rocket Lab by 22.1% in the 3rd quarter. ORG Partners LLC now owns 1,337 shares of the rocket manufacturer’s stock worth $64,000 after purchasing an additional 242 shares during the period. Parvin Asset Management LLC grew its holdings in Rocket Lab by 7.2% during the 2nd quarter. Parvin Asset Management LLC now owns 3,725 shares of the rocket manufacturer’s stock valued at $133,000 after buying an additional 250 shares in the last quarter. GAMMA Investing LLC grew its holdings in Rocket Lab by 36.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,518 shares of the rocket manufacturer’s stock valued at $54,000 after buying an additional 405 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of Rocket Lab by 109.5% during the second quarter. EverSource Wealth Advisors LLC now owns 796 shares of the rocket manufacturer’s stock valued at $28,000 after buying an additional 416 shares during the last quarter. 71.78% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RKLB. Zacks Research raised shares of Rocket Lab from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 12th. Roth Mkm reaffirmed a “buy” rating and issued a $75.00 target price on shares of Rocket Lab in a report on Tuesday, November 11th. Cantor Fitzgerald reissued an “overweight” rating on shares of Rocket Lab in a research note on Wednesday, December 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Rocket Lab in a report on Thursday, January 22nd. Finally, Citigroup reaffirmed a “market perform” rating on shares of Rocket Lab in a report on Wednesday, November 12th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Rocket Lab has a consensus rating of “Moderate Buy” and a consensus target price of $72.92.

Rocket Lab Trading Up 1.8%

Shares of RKLB stock opened at $88.57 on Thursday. The company has a market cap of $47.31 billion, a PE ratio of -233.08 and a beta of 2.16. Rocket Lab Corporation has a 1 year low of $14.71 and a 1 year high of $99.58. The stock’s 50 day simple moving average is $68.19 and its two-hundred day simple moving average is $57.06. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.18 and a quick ratio of 2.83.

Rocket Lab (NASDAQ:RKLB) last released its earnings results on Monday, November 10th. The rocket manufacturer reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.02. The firm had revenue of $155.08 million for the quarter, compared to the consensus estimate of $152.45 million. Rocket Lab had a negative return on equity of 27.26% and a negative net margin of 35.64%.The company’s revenue for the quarter was up 48.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.10) EPS. Research analysts predict that Rocket Lab Corporation will post -0.38 earnings per share for the current year.

Insider Transactions at Rocket Lab

In related news, insider Frank Klein sold 100,000 shares of Rocket Lab stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $72.95, for a total transaction of $7,295,000.00. Following the completion of the transaction, the insider directly owned 1,169,487 shares of the company’s stock, valued at approximately $85,314,076.65. The trade was a 7.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Adam C. Spice sold 1,365,665 shares of the 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 completion of the sale, the chief financial officer directly owned 1,359,568 shares in the company, valued at $102,647,384. This trade represents a 50.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 4,306,150 shares of company stock worth $271,865,732. 11.90% of the stock is currently owned by insiders.

Rocket Lab 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.