Tempo Wealth LLC Makes New $1.84 Million Investment in Rocket Lab Corporation $RKLB

Tempo Wealth LLC acquired a new position in Rocket Lab Corporation (NASDAQ:RKLB) during the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 26,454 shares of the rocket manufacturer’s stock, valued at approximately $1,845,000.

Other large investors have also recently made changes to their positions in the company. Aventura Private Wealth LLC bought a new position in shares of Rocket Lab during the 4th quarter valued at approximately $25,000. Mcguire Capital Advisors Inc. bought a new stake in Rocket Lab during the 4th quarter worth approximately $27,000. Zions Bancorporation National Association UT purchased a new position in Rocket Lab during the fourth quarter valued at approximately $28,000. Gordian Capital Singapore Pte Ltd purchased a new position in Rocket Lab during the fourth quarter valued at approximately $29,000. Finally, Ankerstar Wealth LLC bought a new position in shares of Rocket Lab in the fourth quarter worth approximately $31,000. 71.78% of the stock is owned by hedge funds and other institutional investors.

More Rocket Lab News

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

• Positive Sentiment: Rocket Lab is being added to the Nasdaq-100 effective June 22, which could drive buying from index funds and ETFs that track the benchmark. Rocket Lab (RKLB) to Join Nasdaq-100 Index on June 22
• Positive Sentiment: The company recently passed a key Space Development Agency review, reinforcing confidence in its defense and space business momentum. Rocket Lab (RKLB) Passes Key SDA Review As Nasdaq 100 Inclusion Reshapes Its Story
• Positive Sentiment: Rocket Lab also continues to benefit from strong fundamentals, including record first-quarter revenue of about $200 million and a $2.2 billion backlog, which support the long-term growth story. Rocket Lab (RKLB) Stock Falls 30% Despite Record Q1 Results and Nasdaq-100 Entry

Rocket Lab Trading Down 0.7%

Shares of RKLB stock opened at $107.24 on Friday. 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 stock has a market capitalization of $62.07 billion, a price-to-earnings ratio of -335.12 and a beta of 2.49. Rocket Lab Corporation has a 12-month low of $27.84 and a 12-month high of $151.00. The stock’s 50-day moving average price is $104.82 and its 200-day moving average price is $83.14.

Rocket Lab (NASDAQ:RKLB) last announced its quarterly earnings results 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 return on equity of 11.72% and a negative net margin of 26.87%.The company had revenue of $200.35 million during the quarter, compared to analyst estimates of $189.65 million. During the same period in the prior year, the company earned ($0.12) earnings per share. The firm’s revenue was up 63.4% on a year-over-year basis. Equities research analysts predict that Rocket Lab Corporation will post -0.29 EPS for the current fiscal year.

Insider Transactions at Rocket Lab

In other Rocket Lab news, insider Frank Klein sold 44,390 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $142.57, for a total transaction of $6,328,682.30. Following the completion of the transaction, the insider owned 1,043,847 shares in the company, valued at $148,821,266.79. This trade represents a 4.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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, SVP Arjun Kampani sold 88,000 shares of Rocket Lab stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $107.98, for a total transaction of $9,502,240.00. Following the completion of the transaction, the senior vice president directly owned 264,705 shares of the company’s stock, valued at $28,582,845.90. The trade was a 24.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 573,515 shares of company stock valued at $76,412,122 over the last quarter. 8.40% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

RKLB has been the topic of several recent analyst reports. Clear Str upgraded shares of Rocket Lab to a “strong-buy” rating in a research report on Wednesday, March 18th. Deutsche Bank Aktiengesellschaft boosted their price objective on Rocket Lab from $73.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Roth Mkm increased 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. TD Cowen boosted their price target on Rocket Lab from $90.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Finally, KeyCorp raised shares of Rocket Lab from a “sector weight” rating to an “overweight” rating and set a $135.00 price objective for the company in a report on Monday. Three investment 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’s stock. According to data from MarketBeat, Rocket Lab has an average rating of “Moderate Buy” and an average price target of $102.76.

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.