Mutual Advisors LLC Increases Stock Position in Rocket Lab Corporation $RKLB

Mutual Advisors LLC boosted its holdings in shares of Rocket Lab Corporation (NASDAQ:RKLB) by 904.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,580 shares of the rocket manufacturer’s stock after buying an additional 39,241 shares during the quarter. Mutual Advisors LLC’s holdings in Rocket Lab were worth $2,088,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of RKLB. Wilmington Savings Fund Society FSB purchased a new position in shares of Rocket Lab in the 3rd quarter valued at $25,000. Hara Capital LLC purchased a new position in Rocket Lab in the third quarter valued at about $25,000. UMB Bank n.a. raised its holdings in Rocket Lab by 352.5% in the third quarter. UMB Bank n.a. now owns 543 shares of the rocket manufacturer’s stock worth $26,000 after purchasing an additional 423 shares in the last quarter. Sound Income Strategies LLC purchased a new stake in shares of Rocket Lab during the third quarter valued at about $27,000. Finally, Financial Consulate Inc. bought a new stake in shares of Rocket Lab in the 3rd quarter valued at about $35,000. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Wall Street Analyst Weigh In

RKLB has been the subject of several recent analyst reports. Bank of America boosted their price objective on shares of Rocket Lab from $60.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. Roth Mkm reaffirmed a “buy” rating and set a $75.00 price target on shares of Rocket Lab in a research report on Tuesday, November 11th. Needham & Company LLC raised their price objective on Rocket Lab from $63.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, December 23rd. TD Cowen reaffirmed a “buy” rating on shares of Rocket Lab in a research report on Thursday, January 22nd. Finally, KeyCorp downgraded Rocket Lab from an “overweight” rating to a “sector weight” rating in a report on Thursday, January 15th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $72.92.

Insider Buying and Selling

In other Rocket Lab news, CEO Peter Beck sold 1,560,254 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $57.47, for a total transaction of $89,667,797.38. Following the completion of the transaction, the chief executive officer directly owned 939,746 shares of the company’s stock, valued at approximately $54,007,202.62. This trade represents a 62.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Frank Klein sold 100,000 shares of the company’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $72.95, for a total transaction of $7,295,000.00. Following the completion of the sale, the insider directly owned 1,169,487 shares in the company, valued at $85,314,076.65. This trade represents a 7.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 4,306,150 shares of company stock worth $271,865,732 in the last quarter. 11.90% of the stock is currently owned by corporate insiders.

Rocket Lab Price Performance

NASDAQ RKLB opened at $74.15 on Tuesday. The company has a market cap of $39.61 billion, a price-to-earnings ratio of -195.13 and a beta of 2.16. 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 stock’s fifty day moving average price is $70.54 and its 200 day moving average price is $57.83. Rocket Lab Corporation has a 1 year low of $14.71 and a 1 year high of $99.58.

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

Rocket Lab 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.