Thompson Davis & CO. Inc. Buys Shares of 8,700 Rocket Lab Corporation $RKLB

Thompson Davis & CO. Inc. acquired a new stake in Rocket Lab Corporation (NASDAQ:RKLB) during the 2nd quarter, Holdings Channel reports. The institutional investor acquired 8,700 shares of the rocket manufacturer’s stock, valued at approximately $311,000.

Other hedge funds have also modified their holdings of the company. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Rocket Lab in the second quarter valued at approximately $192,918,000. Norges Bank acquired a new stake in Rocket Lab in the second quarter valued at $164,751,000. Invesco Ltd. lifted its holdings in Rocket Lab by 67.0% in the second quarter. Invesco Ltd. now owns 6,242,304 shares of the rocket manufacturer’s stock valued at $223,287,000 after acquiring an additional 2,504,054 shares during the period. Marex Group plc purchased a new stake in shares of Rocket Lab during the 2nd quarter worth $74,359,000. Finally, HRT Financial LP acquired a new position in shares of Rocket Lab during the 2nd quarter worth $59,410,000. 71.78% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RKLB has been the subject of several recent analyst reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Rocket Lab in a research note on Wednesday, December 3rd. Bank of America lifted their price target on shares of Rocket Lab from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, November 19th. Robert W. Baird assumed coverage on Rocket Lab in a report on Wednesday, October 15th. They issued an “outperform” rating and a $83.00 price target on the stock. Citigroup reaffirmed a “market perform” rating on shares of Rocket Lab in a research note on Wednesday, November 12th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $63.00 price objective on shares of Rocket Lab in a report on Tuesday, November 25th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $58.17.

Rocket Lab Trading Down 3.2%

Shares of Rocket Lab stock opened at $61.49 on Friday. Rocket Lab Corporation has a 1 year low of $14.71 and a 1 year high of $73.97. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.18 and a quick ratio of 2.83. The business has a 50 day moving average price of $54.92 and a 200 day moving average price of $46.08. The company has a market capitalization of $32.85 billion, a P/E ratio of -161.82 and a beta of 2.20.

Rocket Lab (NASDAQ:RKLB) last released its quarterly earnings results on Monday, November 10th. The rocket manufacturer reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.02. Rocket Lab had a negative return on equity of 27.26% and a negative net margin of 35.64%.The company had revenue of $155.08 million during the quarter, compared to the consensus estimate of $152.45 million. During the same quarter last year, the business posted ($0.10) earnings per share. Rocket Lab’s revenue was up 48.0% compared to the same quarter last year. Sell-side analysts anticipate that Rocket Lab Corporation will post -0.38 EPS for the current fiscal year.

Insider Activity

In other news, SVP Arjun Kampani sold 10,554 shares of Rocket Lab stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $42.08, for a total transaction of $444,112.32. Following the completion of the sale, the senior vice president directly owned 450,460 shares in the company, valued at $18,955,356.80. The trade was a 2.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Peter Beck sold 18,857 shares of the business’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $40.65, for a total transaction of $766,537.05. Following the completion of the transaction, the chief executive officer directly owned 902,942 shares of the company’s stock, valued at approximately $36,704,592.30. This represents a 2.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 5,583,532 shares of company stock worth $274,781,358 in the last quarter. Corporate insiders own 11.90% of the company’s stock.

Rocket Lab Company Profile

Rocket Lab USA, Inc, a space company, provides launch services and space systems solutions for the space and defense industries. The company provides launch services, spacecraft design services, spacecraft components, spacecraft manufacturing, and other spacecraft and on-orbit management solutions; and constellation management services, as well as designs and manufactures small and medium-class rockets.