World Investment Advisors Buys Shares of 8,214 Rocket Lab Corporation $RKLB

World Investment Advisors bought a new position in shares of Rocket Lab Corporation (NASDAQ:RKLBFree Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 8,214 shares of the rocket manufacturer’s stock, valued at approximately $394,000.

Several other hedge funds also recently made changes to their positions in the stock. Truist Financial Corp lifted its holdings in Rocket Lab by 1.9% during the 2nd 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. Parvin Asset Management LLC lifted its holdings in shares of Rocket Lab by 7.2% in the second quarter. Parvin Asset Management LLC now owns 3,725 shares of the rocket manufacturer’s stock worth $133,000 after buying an additional 250 shares in the last quarter. GAMMA Investing LLC grew its stake in Rocket Lab by 36.4% during the second quarter. GAMMA Investing LLC now owns 1,518 shares of the rocket manufacturer’s stock valued at $54,000 after acquiring an additional 405 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Rocket Lab by 109.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 796 shares of the rocket manufacturer’s stock worth $28,000 after acquiring an additional 416 shares during the period. Finally, CWM LLC lifted its stake in Rocket Lab by 7.0% in the 2nd quarter. CWM LLC now owns 8,491 shares of the rocket manufacturer’s stock worth $304,000 after purchasing an additional 556 shares in the last quarter. 71.78% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Rocket Lab news, Director Nina Armagno sold 27,314 shares of the business’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $68.21, for a total transaction of $1,863,087.94. Following the transaction, the director directly owned 108,940 shares of the company’s stock, valued at approximately $7,430,797.40. The trade was a 20.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Edward H. Frank sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $77.39, for a total transaction of $193,475.00. Following the completion of the sale, the director directly owned 142,504 shares of the company’s stock, valued at approximately $11,028,384.56. This represents a 1.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 2,731,985 shares of company stock valued at $152,026,345 over the last quarter. 11.90% of the stock is owned by company insiders.

More Rocket Lab News

Here are the key news stories impacting Rocket Lab this week:

Rocket Lab Stock Up 0.5%

Shares of NASDAQ:RKLB opened at $70.45 on Wednesday. The stock’s 50-day moving average is $55.51 and its 200 day moving average is $49.64. The company has a market cap of $37.63 billion, a PE ratio of -185.39 and a beta of 2.20. 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 Corporation has a 1 year low of $14.71 and a 1 year high of $79.83.

Rocket Lab (NASDAQ:RKLBGet Free Report) last issued 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 return on equity of 27.26% and a negative net margin of 35.64%.The firm had revenue of $155.08 million for the quarter, compared to analyst estimates of $152.45 million. During the same period last year, the company earned ($0.10) EPS. The business’s quarterly revenue was up 48.0% compared to the same quarter last year. Sell-side analysts anticipate that Rocket Lab Corporation will post -0.38 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RKLB. Roth Capital reissued a “buy” rating and set a $75.00 price objective on shares of Rocket Lab in a research note on Tuesday, November 11th. Robert W. Baird began coverage on Rocket Lab in a research report on Wednesday, October 15th. They set an “outperform” rating and a $83.00 price target for the company. KeyCorp boosted their price objective on Rocket Lab from $50.00 to $75.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Rocket Lab in a research note on Wednesday, December 3rd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Rocket Lab in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Rocket Lab has a consensus rating of “Moderate Buy” and a consensus price target of $61.25.

Get Our Latest Stock Analysis on Rocket Lab

Rocket Lab 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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