OneDigital Investment Advisors LLC Invests $1.25 Million in Rocket Lab Corporation $RKLB

OneDigital Investment Advisors LLC acquired a new stake in Rocket Lab Corporation (NASDAQ:RKLB) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 12,252 shares of the rocket manufacturer’s stock, valued at approximately $1,245,000.

A number of other large investors have also added to or reduced their stakes in the business. AQR Capital Management LLC increased its position in Rocket Lab by 114.0% in the 1st quarter. AQR Capital Management LLC now owns 174,308 shares of the rocket manufacturer’s stock valued at $3,117,000 after acquiring an additional 92,849 shares during the period. NewEdge Advisors LLC lifted its holdings in shares of Rocket Lab by 1,812.1% during the first quarter. NewEdge Advisors LLC now owns 36,807 shares of the rocket manufacturer’s stock worth $658,000 after purchasing an additional 34,882 shares during the period. Jones Financial Companies Lllp lifted its holdings in shares of Rocket Lab by 53.8% during the first quarter. Jones Financial Companies Lllp now owns 15,745 shares of the rocket manufacturer’s stock worth $282,000 after purchasing an additional 5,507 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Rocket Lab by 13.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 773,548 shares of the rocket manufacturer’s stock worth $13,831,000 after purchasing an additional 90,758 shares during the last quarter. Finally, Focus Partners Wealth grew its stake in shares of Rocket Lab by 1.0% in the first quarter. Focus Partners Wealth now owns 67,584 shares of the rocket manufacturer’s stock worth $1,206,000 after purchasing an additional 681 shares during the last quarter. Institutional investors own 71.78% of the company’s stock.

Rocket Lab News Roundup

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

• Positive Sentiment: Viasat satellite-bus contract: Viasat selected Rocket Lab to build the satellite bus for a maneuverable, anti-jam spacecraft supporting the U.S. Space Force’s Protected Tactical SATCOM-Global program. The win strengthens Rocket Lab’s position in national-security satellite infrastructure and was described by Stifel as another successful contract award. Viasat Selects Rocket Lab to Build GEO Satellite for U.S. Space Force’s Protected Tactical SATCOM-Global Program
• Positive Sentiment: Access to $981 million Space Force program: Rocket Lab was onboarded to the NITE-STAR IDIQ contract, allowing it to compete for task orders involving space-based systems, ground infrastructure, digital training environments and mission operations. The contract expands its government pipeline, although the $981 million figure is a ceiling rather than guaranteed revenue. Rocket Lab Onboarded to U.S. Space Force’s NITE-STAR Program
• Positive Sentiment: Successful Globalstar deployment: Rocket Lab launched and established contact with eight satellite platforms built for MDA Space under a $143 million, 17-satellite contract supporting Globalstar’s direct-to-device and IoT network. The mission demonstrates Rocket Lab’s ability to manufacture, launch and operate satellites as an integrated provider. Rocket Lab Satellite Platforms Successfully Reach Orbit
• Neutral Sentiment: Analyst optimism: Coverage points to more than 35% potential upside, with a median analyst price target of $120. However, these projections are estimates and do not remove execution, valuation or launch risks. 2 ETFs to Capture Rocket Lab Stock’s Upside Potential
• Negative Sentiment: Insider selling remains a risk: Reported insider activity showed 106 open-market sales and no purchases during the past six months, including substantial selling by CEO Peter Beck and other executives. This may weigh on sentiment, particularly after RKLB’s strong advance.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on RKLB. Citizens Jmp reaffirmed a “market outperform” rating and set a $130.00 target price on shares of Rocket Lab in a research report on Tuesday, August 11th. Citigroup reiterated a “market outperform” rating on shares of Rocket Lab in a research report on Tuesday, July 28th. TD Cowen increased their price target on Rocket Lab from $90.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Morgan Stanley reissued an “overweight” rating on shares of Rocket Lab in a research note on Wednesday, July 8th. Finally, Stifel Nicolaus set a $132.00 price objective on Rocket Lab in a research report on Thursday, June 4th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.65.

Rocket Lab Trading Up 2.3%

RKLB opened at $82.08 on Tuesday. Rocket Lab Corporation has a twelve month low of $37.57 and a twelve month high of $151.00. The company has a quick ratio of 4.98, a current ratio of 5.48 and a debt-to-equity ratio of 0.01. The company has a fifty day moving average of $84.46 and a 200-day moving average of $85.49. The stock has a market cap of $49.11 billion, a PE ratio of -303.99 and a beta of 2.60.

Rocket Lab (NASDAQ:RKLB) last released its earnings results on Monday, August 10th. The rocket manufacturer reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.02). The firm had revenue of $234.07 million during the quarter, compared to analyst estimates of $231.62 million. Rocket Lab had a negative net margin of 21.51% and a negative return on equity of 6.48%. On average, sell-side analysts predict that Rocket Lab Corporation will post -0.25 EPS for the current year.

Insider Transactions at Rocket Lab

In other Rocket Lab news, CFO Adam C. Spice sold 62,744 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $142.57, for a total value of $8,945,412.08. Following the transaction, the chief financial officer directly owned 983,049 shares of the company’s stock, valued at approximately $140,153,295.93. The trade was a 6.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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, Director Alexander R. Slusky sold 60,000 shares of the stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $149.40, for a total value of $8,964,000.00. Following the transaction, the director owned 374,675 shares in the company, valued at $55,976,445. The trade was a 13.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 3,749,294 shares of company stock worth $351,008,208. Corporate insiders own 8.40% of the company’s stock.

Rocket Lab Company 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.