OP Asset Management Ltd Buys Shares of 81,269 Rocket Lab Corporation $RKLB

OP Asset Management Ltd purchased a new stake in shares of Rocket Lab Corporation (NASDAQ:RKLB) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 81,269 shares of the rocket manufacturer’s stock, valued at approximately $5,219,000.

Several other institutional investors have also modified their holdings of RKLB. Aventura Private Wealth LLC acquired a new stake in shares of Rocket Lab in the 4th quarter worth about $25,000. Mcguire Capital Advisors Inc. acquired a new position in Rocket Lab during the 4th quarter valued at about $27,000. Zions Bancorporation National Association UT bought a new position in Rocket Lab in the 4th quarter worth about $28,000. EverSource Wealth Advisors LLC grew its position in Rocket Lab by 109.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 796 shares of the rocket manufacturer’s stock worth $28,000 after purchasing an additional 416 shares during the last quarter. Finally, Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Rocket Lab in the fourth quarter valued at approximately $29,000. Institutional investors own 71.78% of the company’s stock.

Insider Transactions at Rocket Lab

In other news, insider Frank Klein sold 44,390 shares of Rocket Lab stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $142.57, for a total transaction of $6,328,682.30. Following the transaction, the insider directly owned 1,043,847 shares in the company, valued at approximately $148,821,266.79. This trade represents a 4.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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. Also, Director Alexander R. Slusky sold 100,000 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $118.08, for a total value of $11,808,000.00. Following the completion of the sale, the director directly owned 434,675 shares in the company, valued at $51,326,424. This represents a 18.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 573,515 shares of company stock valued at $76,412,122 in the last quarter. Company insiders own 8.40% of the company’s stock.

Rocket Lab Trading Up 4.8%

Shares of NASDAQ:RKLB opened at $84.54 on Friday. The company has a 50 day moving average of $107.48 and a 200-day moving average of $84.85. The company has a current ratio of 4.47, a quick ratio of 4.02 and a debt-to-equity ratio of 0.02. The firm has a market cap of $48.93 billion, a P/E ratio of -264.19 and a beta of 2.49. Rocket Lab Corporation has a twelve month low of $33.73 and a twelve month high of $151.00.

Rocket Lab (NASDAQ:RKLB) last posted its quarterly earnings data on Thursday, May 7th. The rocket manufacturer reported ($0.07) EPS for the quarter, meeting analysts’ consensus estimates of ($0.07). Rocket Lab had a negative net margin of 26.87% and a negative return on equity of 11.72%. The business had revenue of $200.35 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. As a group, analysts anticipate that Rocket Lab Corporation will post -0.29 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on RKLB. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rocket Lab in a report on Tuesday, April 21st. New Street Research assumed coverage on Rocket Lab in a research report on Wednesday, May 13th. They issued a “buy” rating and a $150.00 target price on the stock. Citizens Jmp lifted their target price on Rocket Lab from $85.00 to $95.00 and gave the company a “market outperform” rating in a research note on Friday, May 8th. Stifel Nicolaus set a $132.00 target price on Rocket Lab in a research note on Thursday, June 4th. Finally, Roth Mkm increased their price target on Rocket Lab from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, April 17th. Three research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $102.76.

Key Stories Impacting Rocket Lab

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

• Positive Sentiment: NASA chose Rocket Lab for three dedicated Electron launches supporting the PolSIR and TSIS-2 missions, a meaningful endorsement of Electron’s reliability and the company’s position in government launch services. NASA Selects Rocket Lab to Launch Sun, Earth Sciences Missions
• Positive Sentiment: Rocket Lab completed its 10th consecutive successful Electron launch for Synspective, extending its streak of 100% mission success and reinforcing operational momentum. Rocket Lab Completes 10th Consecutive Launch with 100% Mission Success for Synspective
• Positive Sentiment: The company’s expanding backlog, rising government work, and record Q1 revenue growth continue to support the long-term investment case. Rocket Lab’s NASA Win Tests Key Support After Sharp Pullback
• Neutral Sentiment: Analysts remain generally constructive, but some note the stock still looks expensive after a strong run and recent volatility. Rocket Lab Just Shattered This Space Force Record: Does That Make The Stock a Buy?
• Negative Sentiment: The stock had been under pressure before the latest news, with traders watching whether the recent rally can hold after a sharp pullback from its highs. Rocket Lab’s NASA Win Tests Key Support After Sharp Pullback

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.