Rocket Lab Corporation (NASDAQ:RKLB) Short Interest Update

Rocket Lab Corporation (NASDAQ:RKLB) was the recipient of a large increase in short interest in the month of April. As of April 15th, there was short interest totaling 31,516,624 shares, an increase of 26.6% from the March 31st total of 24,895,763 shares. Approximately 6.3% of the shares of the company are sold short. Based on an average daily volume of 23,337,857 shares, the short-interest ratio is presently 1.4 days.

Insider Activity

In other news, CFO Adam C. Spice sold 62,744 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $69.59, for a total transaction of $4,366,354.96. Following the completion of the sale, the chief financial officer owned 1,296,824 shares in the company, valued at approximately $90,245,982.16. This represents a 4.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Arjun Kampani sold 23,711 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $71.95, for a total value of $1,706,006.45. Following the transaction, the senior vice president directly owned 397,988 shares in the company, valued at approximately $28,635,236.60. This represents a 5.62% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 233,449 shares of company stock worth $16,487,233 over the last 90 days. 8.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. First Horizon Corp boosted its position in shares of Rocket Lab by 392.6% during the 1st quarter. First Horizon Corp now owns 1,670 shares of the rocket manufacturer’s stock worth $107,000 after purchasing an additional 1,331 shares in the last quarter. Cherry Creek Investment Advisors Inc. increased its holdings in shares of Rocket Lab by 61.7% in the 1st quarter. Cherry Creek Investment Advisors Inc. now owns 18,301 shares of the rocket manufacturer’s stock valued at $1,175,000 after purchasing an additional 6,983 shares in the last quarter. Kestra Advisory Services LLC increased its holdings in shares of Rocket Lab by 6.8% in the 1st quarter. Kestra Advisory Services LLC now owns 142,531 shares of the rocket manufacturer’s stock valued at $9,153,000 after purchasing an additional 9,093 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Rocket Lab by 12.1% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,517,301 shares of the rocket manufacturer’s stock valued at $97,441,000 after purchasing an additional 163,778 shares during the period. Finally, Resona Asset Management Co. Ltd. boosted its holdings in Rocket Lab by 11.4% during the first quarter. Resona Asset Management Co. Ltd. now owns 138,524 shares of the rocket manufacturer’s stock worth $8,752,000 after buying an additional 14,165 shares in the last quarter. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on RKLB shares. Zacks Research cut Rocket Lab from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 10th. Clear Str upgraded Rocket Lab to a “strong-buy” rating in a research note on Wednesday, March 18th. Wells Fargo & Company initiated coverage on Rocket Lab in a report on Wednesday, April 1st. They set an “equal weight” rating and a $60.00 price target for the company. Citizens Jmp raised shares of Rocket Lab from a “market perform” rating to an “outperform” rating and set a $85.00 price objective on the stock in a research note on Tuesday, April 7th. Finally, Roth Mkm upped their price objective on shares of Rocket Lab from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. Two research analysts have rated the stock with a Strong Buy rating, nine 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.com, Rocket Lab currently has an average rating of “Moderate Buy” and a consensus price target of $83.31.

More Rocket Lab News

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

• Positive Sentiment: Rocket Lab won a roughly $190 million defense contract, a sizable award that should meaningfully boost near?term revenue visibility and underline government demand for its launch and space services. Massive News: Rocket Lab Just Won a $190 Million Defense Deal
• Positive Sentiment: Partnership with Meta on space?based solar power and the launch of a High Performance Star Tracker signal Rocket Lab expanding beyond launch into satellite systems and orbital power — a vertical integration narrative that supports longer?term, higher?margin opportunities. Rocket Lab And Meta Partnership Highlights Orbital Power And Vertical Integration
• Positive Sentiment: High-profile endorsement: Jim Cramer said on Mad Money that “I think that Rocket Lab is a winner,” which can boost retail interest and trading flows in the near term. (Coverage reproduced across outlets.) Jim Cramer Says “I Think That Rocket Lab Is a Winner” Jim Cramer Says “I Think That Rocket Lab Is a Winner” (InsiderMonkey)
• Neutral Sentiment: Balance sheet and metrics: the company shows strong liquidity (high quick/current ratios) and low debt, which reduces execution risk on growth projects — but valuation is elevated (large market cap and negative trailing P/E), leaving less margin for disappointment.
• Negative Sentiment: Recent short?term weakness: coverage noted a ~4.5% intraday decline in the prior session, reflecting volatility and sensitivity to news flow; investors should expect sizeable swings given the stock’s beta and retail interest. Rocket Lab Corporation (RKLB) Sees a More Significant Dip Than Broader Market Zacks: Rocket Lab Sees a More Significant Dip Than Broader Market

Rocket Lab Stock Performance

NASDAQ RKLB traded up $5.57 on Thursday, hitting $82.59. 15,753,196 shares of the company’s stock were exchanged, compared to its average volume of 22,575,652. The firm has a market cap of $47.03 billion, a price-to-earnings ratio of -223.21 and a beta of 2.20. The firm’s 50-day moving average price is $72.14 and its two-hundred day moving average price is $68.10. Rocket Lab has a fifty-two week low of $20.23 and a fifty-two week high of $99.58. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.08 and a quick ratio of 3.61.

Rocket Lab Company 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.