SG Americas Securities LLC Sells 316,736 Shares of Rocket Lab Corporation $RKLB

SG Americas Securities LLC lowered its holdings in shares of Rocket Lab Corporation (NASDAQ:RKLB) by 64.8% during the first quarter, Holdings Channel reports. The institutional investor owned 171,872 shares of the rocket manufacturer’s stock after selling 316,736 shares during the quarter. SG Americas Securities LLC’s holdings in Rocket Lab were worth $11,038,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Sara Bay Financial lifted its holdings in shares of Rocket Lab by 0.7% during the 4th quarter. Sara Bay Financial now owns 15,905 shares of the rocket manufacturer’s stock worth $1,121,000 after acquiring an additional 117 shares during the period. ORG Partners LLC boosted its position in shares of Rocket Lab by 9.1% during the 4th quarter. ORG Partners LLC now owns 1,458 shares of the rocket manufacturer’s stock valued at $102,000 after acquiring an additional 121 shares in the last quarter. Traynor Capital Management Inc. increased its stake in Rocket Lab by 1.9% in the fourth quarter. Traynor Capital Management Inc. now owns 7,191 shares of the rocket manufacturer’s stock valued at $502,000 after acquiring an additional 133 shares during the period. Capital Advisors Wealth Management LLC increased its stake in Rocket Lab by 1.0% in the fourth quarter. Capital Advisors Wealth Management LLC now owns 13,466 shares of the rocket manufacturer’s stock valued at $939,000 after acquiring an additional 136 shares during the period. Finally, Quadcap Wealth Management LLC raised its position in Rocket Lab by 2.3% in the fourth quarter. Quadcap Wealth Management LLC now owns 6,246 shares of the rocket manufacturer’s stock worth $436,000 after purchasing an additional 140 shares in the last quarter. Institutional investors own 71.78% of the company’s stock.

Insider Buying and Selling at Rocket Lab

In related news, insider Frank Klein sold 36,860 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $147.42, for a total transaction of $5,433,901.20. Following the completion of the sale, the insider directly owned 1,006,987 shares of the company’s stock, valued at $148,450,023.54. This trade represents a 3.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Arjun Kampani sold 88,000 shares of Rocket Lab stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $107.98, for a total value of $9,502,240.00. Following the completion of the transaction, the senior vice president owned 264,705 shares of the company’s stock, valued at approximately $28,582,845.90. The trade was a 24.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 573,515 shares of company stock worth $76,412,122 over the last 90 days. Company insiders own 8.40% of the company’s stock.

Key Headlines 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 Price Performance

NASDAQ:RKLB opened at $84.54 on Friday. The firm has a market cap of $48.93 billion, a PE ratio of -264.19 and a beta of 2.49. Rocket Lab Corporation has a 12 month low of $33.73 and a 12 month high of $151.00. The company has a quick ratio of 4.02, a current ratio of 4.47 and a debt-to-equity ratio of 0.02. The company’s 50-day moving average price is $107.48 and its two-hundred day moving average price is $84.85.

Rocket Lab (NASDAQ:RKLB) last issued its quarterly earnings data on Thursday, May 7th. The rocket manufacturer reported ($0.07) earnings per share for the quarter, hitting the consensus estimate of ($0.07). Rocket Lab had a negative net margin of 26.87% and a negative return on equity of 11.72%. 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 prior year, the firm earned ($0.12) earnings per share. The company’s quarterly revenue was up 63.4% compared to the same quarter last year. On average, equities analysts anticipate that Rocket Lab Corporation will post -0.29 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. New Street Research started coverage on shares of Rocket Lab in a research note on Wednesday, May 13th. They set a “buy” rating and a $150.00 price target for the company. Craig Hallum upgraded Rocket Lab from a “hold” rating to a “buy” rating and set a $98.00 price objective on the stock in a research note on Friday, May 8th. Citizens Jmp increased their target price on Rocket Lab from $85.00 to $95.00 and gave the stock a “market outperform” rating in a report on Friday, May 8th. Citigroup restated an “outperform” rating on shares of Rocket Lab in a research report on Friday, May 8th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Rocket Lab from $73.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Three analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Rocket Lab presently has an average rating of “Moderate Buy” and an average target price 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.