Claro Advisors Inc. Cuts Stock Holdings in Rocket Lab Corporation $RKLB

Claro Advisors Inc. decreased its holdings in shares of Rocket Lab Corporation (NASDAQ:RKLB) by 49.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,087 shares of the rocket manufacturer’s stock after selling 20,000 shares during the quarter. Claro Advisors Inc.’s holdings in Rocket Lab were worth $1,401,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of RKLB. AQR Capital Management LLC grew its holdings in shares of Rocket Lab by 114.0% during the first quarter. AQR Capital Management LLC now owns 174,308 shares of the rocket manufacturer’s stock worth $3,117,000 after purchasing an additional 92,849 shares in the last quarter. NewEdge Advisors LLC lifted its position in Rocket Lab by 1,812.1% in the 1st quarter. NewEdge Advisors LLC now owns 36,807 shares of the rocket manufacturer’s stock worth $658,000 after buying an additional 34,882 shares during the last quarter. Jones Financial Companies Lllp lifted its position in Rocket Lab by 53.8% in the 1st quarter. Jones Financial Companies Lllp now owns 15,745 shares of the rocket manufacturer’s stock worth $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 lifted its position in Rocket Lab by 13.3% in 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 position in 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 buying an additional 681 shares during the last quarter. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Key Headlines Impacting Rocket Lab

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

• Positive Sentiment: Rocket Lab will join the Nasdaq-100 on June 22, a milestone that should increase institutional demand and index-related buying. Rocket Lab (RKLB) to Join Nasdaq-100 Index on June 22
• Positive Sentiment: Wall Street sentiment has improved, with analyst upgrades and higher price targets adding momentum ahead of the index inclusion. Why Rocket Lab (RKLB) Stock Is Up Today
• Positive Sentiment: Several recent articles argue Rocket Lab remains one of the stronger public space stocks, citing backlog growth, defense demand, and vertical integration as long-term positives for the business. Planet Labs vs. Rocket Lab: Which Space Stock Has an Edge?
• Neutral Sentiment: Some commentary suggests the stock is still expensive after a big run and may be vulnerable to valuation-based pullbacks if momentum slows. Jim Cramer on Rocket Lab: “While the Stock’s Cheaper Than SpaceX, It’s Still Pretty Darn Expensive”
• Negative Sentiment: Short-term traders have also noted that Rocket Lab has cooled from recent highs, with some pieces framing the move as a reversal after a strong rally. RKLB stock suffers a brutal reversal as a bullish pattern begins to take shape

Rocket Lab Price Performance

RKLB opened at $107.98 on Thursday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.02 and a current ratio of 4.47. Rocket Lab Corporation has a 52-week low of $26.23 and a 52-week high of $151.00. The stock has a market capitalization of $62.49 billion, a PE ratio of -337.44 and a beta of 2.49. The stock’s 50 day moving average price is $104.00 and its 200-day moving average price is $82.68.

Rocket Lab (NASDAQ:RKLB) last posted its earnings results on Thursday, May 7th. The rocket manufacturer reported ($0.07) earnings per share (EPS) for the quarter, meeting 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 firm had revenue of $200.35 million for the quarter, compared to analysts’ expectations of $189.65 million. During the same period in the previous year, the firm earned ($0.12) earnings per share. The business’s revenue was up 63.4% compared to the same quarter last year. On average, equities research analysts predict that Rocket Lab Corporation will post -0.29 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Craig Hallum upgraded Rocket Lab from a “hold” rating to a “buy” rating and set a $98.00 target price for the company in a research report on Friday, May 8th. Roth Mkm boosted their target price on Rocket Lab from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. Weiss Ratings restated a “sell (d-)” rating on shares of Rocket Lab in a research report on Tuesday, April 21st. Wells Fargo & Company started coverage on Rocket Lab in a research report on Wednesday, April 1st. They issued an “equal weight” rating and a $60.00 price objective for the company. Finally, KeyCorp upgraded Rocket Lab from a “sector weight” rating to an “overweight” rating and set a $135.00 price objective for the company in a research report on Monday. Three analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $102.76.

Insiders Place Their Bets

In other Rocket Lab news, insider Marvin Bradford Clevenger sold 15,549 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $142.57, for a total value of $2,216,820.93. Following the completion of the transaction, the insider owned 477,475 shares in the company, valued at approximately $68,073,610.75. This represents a 3.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Frank Klein sold 44,390 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $142.57, for a total value of $6,328,682.30. Following the completion of the transaction, the insider owned 1,043,847 shares of the company’s stock, valued at approximately $148,821,266.79. This trade represents a 4.08% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 485,515 shares of company stock valued at $66,909,882 in the last 90 days. Corporate insiders own 8.40% of the company’s stock.

About Rocket Lab

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.