Swedbank AB Increases Position in Rocket Lab Corporation $RKLB

Swedbank AB grew its holdings in Rocket Lab Corporation (NASDAQ:RKLB) by 8.2% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 509,250 shares of the rocket manufacturer’s stock after buying an additional 38,770 shares during the period. Swedbank AB’s holdings in Rocket Lab were worth $35,525,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in RKLB. AQR Capital Management LLC raised its holdings in shares of Rocket Lab by 114.0% in the first quarter. AQR Capital Management LLC now owns 174,308 shares of the rocket manufacturer’s stock valued at $3,117,000 after buying an additional 92,849 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of Rocket Lab by 1,812.1% in the first quarter. NewEdge Advisors LLC now owns 36,807 shares of the rocket manufacturer’s stock valued at $658,000 after buying an additional 34,882 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in shares of Rocket Lab by 53.8% in the first quarter. Jones Financial Companies Lllp now owns 15,745 shares of the rocket manufacturer’s stock valued at $282,000 after buying an additional 5,507 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Rocket Lab by 13.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 773,548 shares of the rocket manufacturer’s stock worth $13,831,000 after buying an additional 90,758 shares during the last quarter. Finally, Focus Partners Wealth lifted its stake in shares of Rocket Lab by 1.0% in the 1st quarter. Focus Partners Wealth now owns 67,584 shares of the rocket manufacturer’s stock worth $1,206,000 after acquiring an additional 681 shares during the period. 71.78% of the stock is owned by hedge funds and other institutional investors.

Rocket Lab Price Performance

RKLB stock opened at $135.76 on Monday. The company has a fifty day moving average of $84.84 and a 200-day moving average of $73.24. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.02 and a current ratio of 4.47. The stock has a market capitalization of $78.57 billion, a PE ratio of -424.25 and a beta of 2.30. Rocket Lab Corporation has a one year low of $24.67 and a one year high of $139.76.

Rocket Lab (NASDAQ:RKLB) last announced its quarterly earnings data on Thursday, May 7th. The rocket manufacturer reported ($0.07) EPS for the quarter, meeting the consensus estimate of ($0.07). Rocket Lab had a negative net margin of 26.87% and a negative return on equity of 11.72%. The firm had revenue of $200.35 million during the quarter, compared to analysts’ expectations of $189.65 million. During the same quarter last year, the business earned ($0.12) earnings per share. The business’s revenue for the quarter was up 63.4% compared to the same quarter last year. As a group, analysts expect that Rocket Lab Corporation will post -0.29 EPS for the current year.

Insider Transactions at Rocket Lab

In related news, Director Merline Saintil sold 18,126 shares of the firm’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $75.04, for a total value of $1,360,175.04. Following the completion of the sale, the director owned 261,903 shares in the company, valued at $19,653,201.12. This trade represents a 6.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Alexander R. Slusky sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $118.08, for a total transaction of $11,808,000.00. Following the completion of the sale, the director owned 434,675 shares of the company’s stock, valued at $51,326,424. This trade represents a 18.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 333,449 shares of company stock valued at $28,295,233. 8.40% of the stock is owned by company insiders.

Trending Headlines about Rocket Lab

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

• Positive Sentiment: Rocket Lab won a $90 million Space Force contract, which expands its satellite business into geostationary orbit and adds a meaningful new source of revenue. Article Title
• Positive Sentiment: The company completed its 9th Electron launch for Synspective, underscoring strong execution and a durable commercial launch partnership. Article Title
• Neutral Sentiment: Broader space-stock momentum and renewed interest ahead of SpaceX’s IPO are also lifting sentiment across the sector, including RKLB. Article Title
• Negative Sentiment: Some investors remain wary after Rocket Lab’s recent announcement of a potential $3 billion share-sale program, which raised dilution concerns earlier in the week. Article Title

Wall Street Analyst Weigh In

Several research firms have recently commented on RKLB. TD Cowen raised their target price on shares of Rocket Lab from $90.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Citizens Jmp raised 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 note on Friday, May 8th. Craig Hallum upgraded shares of Rocket Lab from a “hold” rating to a “buy” rating and set a $98.00 target price for the company in a research note on Friday, May 8th. Cantor Fitzgerald restated an “overweight” rating and issued a $85.00 target price on shares of Rocket Lab in a research note on Friday, March 13th. Finally, Citigroup restated an “outperform” rating on shares of Rocket Lab in a research note on Friday, May 8th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $97.19.

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.