15,994 Shares in Rocket Lab Corporation $RKLB Acquired by Hamilton Lane Advisors LLC

Hamilton Lane Advisors LLC purchased a new stake in shares of Rocket Lab Corporation (NASDAQ:RKLB) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 15,994 shares of the rocket manufacturer’s stock, valued at approximately $766,000. Rocket Lab comprises approximately 0.4% of Hamilton Lane Advisors LLC’s investment portfolio, making the stock its 12th largest holding.

A number of other institutional investors also recently modified their holdings of the company. National Bank of Canada FI boosted its holdings in shares of Rocket Lab by 39.8% during the 1st quarter. National Bank of Canada FI now owns 3,118 shares of the rocket manufacturer’s stock worth $56,000 after buying an additional 887 shares during the period. Nuveen LLC acquired a new position in Rocket Lab during the 1st quarter worth $23,964,000. Russell Investments Group Ltd. boosted its holdings in Rocket Lab by 4,904.6% during the first quarter. Russell Investments Group Ltd. now owns 19,668 shares of the rocket manufacturer’s stock valued at $352,000 after acquiring an additional 19,275 shares during the period. Ethic Inc. grew its position in shares of Rocket Lab by 4.4% in the first quarter. Ethic Inc. now owns 33,473 shares of the rocket manufacturer’s stock valued at $608,000 after purchasing an additional 1,422 shares during the last quarter. Finally, Cresset Asset Management LLC grew its position in shares of Rocket Lab by 75.4% in the first quarter. Cresset Asset Management LLC now owns 24,374 shares of the rocket manufacturer’s stock valued at $436,000 after purchasing an additional 10,474 shares during the last quarter. Institutional investors own 71.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Citigroup reaffirmed a “market perform” rating on shares of Rocket Lab in a research report on Wednesday, November 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Rocket Lab in a research report on Wednesday, October 8th. Bank of America upped their price objective on shares of Rocket Lab from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, November 19th. Stifel Nicolaus reissued a “buy” rating and set a $75.00 target price (up from $65.00) on shares of Rocket Lab in a research report on Tuesday, November 11th. Finally, Roth Capital restated a “buy” rating and set a $75.00 price target on shares of Rocket Lab in a research note on Tuesday, November 11th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $58.17.

Insider Buying and Selling at Rocket Lab

In other Rocket Lab news, CFO Adam C. Spice sold 874,588 shares of Rocket Lab stock in a transaction on Friday, September 19th. The stock was sold at an average price of $48.01, for a total transaction of $41,988,969.88. Following the completion of the transaction, the chief financial officer directly owned 2,057,889 shares of the company’s stock, valued at approximately $98,799,250.89. This trade represents a 29.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Arjun Kampani sold 28,615 shares of the business’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $40.65, for a total transaction of $1,163,199.75. Following the completion of the sale, the senior vice president owned 461,014 shares in the company, valued at $18,740,219.10. This represents a 5.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 3,566,759 shares of company stock worth $191,361,452 over the last three months. 11.90% of the stock is currently owned by insiders.

Rocket Lab Price Performance

Shares of Rocket Lab stock opened at $55.49 on Wednesday. The firm has a market cap of $29.64 billion, a P/E ratio of -146.03 and a beta of 2.20. The firm’s 50-day simple moving average is $54.74 and its 200-day simple moving average is $46.60. Rocket Lab Corporation has a twelve month low of $14.71 and a twelve month high of $73.97. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.83 and a current ratio of 3.18.

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

About Rocket Lab

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.