Valeo Financial Advisors LLC Acquires Shares of 17,782 Rocket Lab Corporation $RKLB

Valeo Financial Advisors LLC bought a new position in Rocket Lab Corporation (NASDAQ:RKLB) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 17,782 shares of the rocket manufacturer’s stock, valued at approximately $636,000.

A number of other large investors also recently bought and sold shares of RKLB. Osaic Holdings Inc. grew its holdings in Rocket Lab by 92.2% in the second quarter. Osaic Holdings Inc. now owns 119,099 shares of the rocket manufacturer’s stock worth $4,259,000 after purchasing an additional 57,125 shares during the period. Orion Porfolio Solutions LLC bought a new stake in shares of Rocket Lab in the 2nd quarter worth approximately $1,009,000. Thompson Davis & CO. Inc. bought a new stake in shares of Rocket Lab in the 2nd quarter worth approximately $311,000. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Rocket Lab in the 2nd quarter worth approximately $589,000. Finally, Newbridge Financial Services Group Inc. raised its stake in Rocket Lab by 1,000.0% during the second quarter. Newbridge Financial Services Group Inc. now owns 5,500 shares of the rocket manufacturer’s stock valued at $197,000 after buying an additional 5,000 shares during the last quarter. 71.78% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Rocket Lab

In related news, CEO Peter Beck sold 1,560,254 shares of Rocket Lab stock in a transaction on Monday, December 15th. The stock was sold at an average price of $57.47, for a total value of $89,667,797.38. Following the completion of the sale, the chief executive officer owned 939,746 shares of the company’s stock, valued at $54,007,202.62. The trade was a 62.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Adam C. Spice sold 874,588 shares of the stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $48.01, for a total value of $41,988,969.88. Following the completion of the transaction, the chief financial officer directly owned 2,057,889 shares in the company, valued at approximately $98,799,250.89. This represents a 29.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 3,566,759 shares of company stock worth $191,361,452. Company insiders own 11.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on RKLB. Wall Street Zen downgraded Rocket Lab from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. Needham & Company LLC reiterated a “buy” rating and issued a $63.00 price target on shares of Rocket Lab in a research note on Tuesday, November 25th. Roth Capital restated a “buy” rating and set a $75.00 price objective on shares of Rocket Lab in a research note on Tuesday, November 11th. Robert W. Baird started coverage on shares of Rocket Lab in a report on Wednesday, October 15th. They issued an “outperform” rating and a $83.00 target price for the company. Finally, Bank of America increased their price target on shares of Rocket Lab from $50.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, November 19th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Rocket Lab currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.17.

Rocket Lab Price Performance

Shares of NASDAQ:RKLB opened at $53.96 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.83 and a current ratio of 3.18. The firm has a market cap of $28.82 billion, a price-to-earnings ratio of -142.00 and a beta of 2.20. The business has a 50-day simple moving average of $54.51 and a two-hundred day simple moving average of $46.65. Rocket Lab Corporation has a fifty-two week low of $14.71 and a fifty-two week high of $73.97.

Rocket Lab (NASDAQ:RKLB) last announced its quarterly earnings results on Monday, November 10th. The rocket manufacturer reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. The firm had revenue of $155.08 million during the quarter, compared to analyst estimates of $152.45 million. Rocket Lab had a negative net margin of 35.64% and a negative return on equity of 27.26%. The business’s revenue for the quarter was up 48.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.10) earnings per share. On average, analysts expect that Rocket Lab Corporation will post -0.38 earnings per share for the current year.

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.