Allworth Financial LP Acquires 4,701 Shares of Rocket Lab Corporation $RKLB

Allworth Financial LP boosted its holdings in Rocket Lab Corporation (NASDAQ:RKLB) by 39.1% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,709 shares of the rocket manufacturer’s stock after acquiring an additional 4,701 shares during the quarter. Allworth Financial LP’s holdings in Rocket Lab were worth $1,166,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of RKLB. TrueWealth Financial Partners purchased a new stake in Rocket Lab in the fourth quarter valued at approximately $314,000. GR Financial Group LLC lifted its position in Rocket Lab by 3.4% during the fourth quarter. GR Financial Group LLC now owns 5,073 shares of the rocket manufacturer’s stock valued at $354,000 after purchasing an additional 169 shares during the last quarter. World Investment Advisors grew its stake in Rocket Lab by 10.6% in the 4th quarter. World Investment Advisors now owns 9,084 shares of the rocket manufacturer’s stock worth $634,000 after buying an additional 870 shares in the last quarter. Empire Life Investments Inc. grew its stake in Rocket Lab by 19.6% in the 4th quarter. Empire Life Investments Inc. now owns 103,676 shares of the rocket manufacturer’s stock worth $7,232,000 after buying an additional 16,964 shares in the last quarter. Finally, HighPoint Advisor Group LLC bought a new position in shares of Rocket Lab in the 4th quarter worth $261,000. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Rocket Lab Stock Up 5.1%

Shares of NASDAQ:RKLB opened at $131.16 on Tuesday. The stock has a market capitalization of $75.91 billion, a P/E ratio of -409.88 and a beta of 2.30. The stock’s 50-day moving average price is $80.04 and its 200-day moving average price is $71.33. The company has a current ratio of 4.47, a quick ratio of 4.02 and a debt-to-equity ratio of 0.02. Rocket Lab Corporation has a 12-month low of $23.92 and a 12-month high of $138.38.

Rocket Lab (NASDAQ:RKLB) last posted its quarterly earnings results on Thursday, May 7th. The rocket manufacturer reported ($0.07) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.07). Rocket Lab had a negative return on equity of 11.72% and a negative net margin of 26.87%.The business had revenue of $200.35 million for the quarter, compared to analyst estimates of $189.65 million. During the same period last year, the company earned ($0.12) EPS. Rocket Lab’s revenue for the quarter was up 63.4% compared to the same quarter last year. On average, equities analysts anticipate that Rocket Lab Corporation will post -0.22 earnings per share for the current year.

Insider Activity at Rocket Lab

In other Rocket Lab news, Director Alexander R. Slusky sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $118.08, for a total transaction of $11,808,000.00. Following the completion of the transaction, the director owned 434,675 shares of the company’s stock, valued at $51,326,424. This represents a 18.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Adam C. Spice sold 62,744 shares of the firm’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $69.59, for a total value of $4,366,354.96. Following the completion of the sale, the chief financial officer directly owned 1,296,824 shares of the company’s stock, valued at $90,245,982.16. The trade was a 4.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 333,449 shares of company stock worth $28,295,233 over the last 90 days. 8.40% of the stock is owned by insiders.

Rocket Lab News Roundup

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

• Positive Sentiment: Space stocks, including Rocket Lab, are rising as investors anticipate SpaceX’s upcoming S-1 filing and possible IPO, which has boosted interest across the sector. SpaceX filing boosts space stocks, BofA resumes ServiceNow coverage
• Positive Sentiment: Rocket Lab’s recent earnings call highlighted strong execution, record backlog, a record cash position, and growing launch contract wins, reinforcing confidence in the company’s long-term growth story. 5 Must-Read Analyst Questions From Rocket Lab’s Q1 Earnings Call
• Positive Sentiment: Commentary from investors and media coverage has leaned bullish on Rocket Lab, with some saying they “wouldn’t sell” after the stock resumed its rally. ‘I Wouldn’t Sell,’ Says Investor About Rocket Lab Stock
• Neutral Sentiment: Several articles compared Rocket Lab with SpaceX and discussed the investment case for aerospace stocks, adding attention but not providing a direct fundamental catalyst. Rocket Lab vs. SpaceX: Which Stock is the Better Aerospace Buy?
• Neutral Sentiment: One report noted the stock “popped then dropped” as enthusiasm around the SpaceX IPO shifted intraday, suggesting volatility rather than a clear change in Rocket Lab’s fundamentals. Why Rocket Lab Stock Popped Then Dropped

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Citizens Jmp upped their target price on shares of Rocket Lab from $85.00 to $95.00 and gave the stock a “market outperform” rating in a research report on Friday, May 8th. Roth Mkm raised their price target on Rocket Lab from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, April 17th. The Goldman Sachs Group lifted their price target on Rocket Lab from $47.00 to $69.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 20th. Craig Hallum upgraded Rocket Lab from a “hold” rating to a “buy” rating and set a $98.00 price objective for the company in a report on Friday, May 8th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $85.00 price objective on shares of Rocket Lab in a research report on Friday, March 13th. Three analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $97.19.

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.