Candriam S.C.A. Buys 16,518 Shares of Rocket Lab Corporation $RKLB

Candriam S.C.A. grew its stake in shares of Rocket Lab Corporation (NASDAQ:RKLB) by 47.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 51,675 shares of the rocket manufacturer’s stock after purchasing an additional 16,518 shares during the period. Candriam S.C.A.’s holdings in Rocket Lab were worth $3,614,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. BlackRock Inc. acquired a new stake in shares of Rocket Lab during the 2nd quarter valued at approximately $4,124,970,000. Katamaran Capital LLP boosted its stake in shares of Rocket Lab by 86.2% during the 1st quarter. Katamaran Capital LLP now owns 19,808 shares of the rocket manufacturer’s stock worth $1,272,000 after acquiring an additional 9,172 shares in the last quarter. Y.D. More Investments Ltd purchased a new stake in shares of Rocket Lab during the 1st quarter worth approximately $642,000. Swiss National Bank boosted its stake in shares of Rocket Lab by 17.8% during the 1st quarter. Swiss National Bank now owns 1,410,930 shares of the rocket manufacturer’s stock worth $90,610,000 after acquiring an additional 212,700 shares in the last quarter. Finally, Bank of Nova Scotia boosted its stake in shares of Rocket Lab by 149.8% during the 1st quarter. Bank of Nova Scotia now owns 49,957 shares of the rocket manufacturer’s stock worth $3,209,000 after acquiring an additional 29,956 shares in the last quarter. 71.78% of the stock is owned by institutional investors and hedge funds.

Rocket Lab Stock Performance

NASDAQ:RKLB opened at $62.71 on Wednesday. The company has a current ratio of 5.48, a quick ratio of 4.98 and a debt-to-equity ratio of 0.01. The firm has a 50-day moving average price of $62.42 and a two-hundred day moving average price of $78.68. Rocket Lab Corporation has a twelve month low of $37.57 and a twelve month high of $151.00. The company has a market capitalization of $37.52 billion, a P/E ratio of -174.19 and a beta of 3.15.

Rocket Lab (NASDAQ:RKLB) last announced its earnings results on Monday, November 9th. The rocket manufacturer reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.05). Rocket Lab had a negative return on equity of 7.71% and a negative net margin of 25.73%. The business had revenue of $267.83 million for the quarter, compared to analyst estimates of $257.21 million. As a group, research analysts expect that Rocket Lab Corporation will post -0.20 earnings per share for the current fiscal year.

Key Rocket Lab News

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

• Positive Sentiment: Q3 revenue rose 72.7% year over year to $267.8 million, beating estimates. Backlog expanded 52% sequentially to a record $3.57 billion, reinforcing demand for Rocket Lab’s launch and space-systems business. Q3 results and outlook
• Positive Sentiment: Fourth-quarter revenue guidance of $270 million to $290 million came in above analyst expectations. The company also secured more than $515 million in Neutron launch contracts during Q3, bringing the rocket’s backlog to 16 missions and raising its base launch price to $70 million. Neutron launch contracts
• Neutral Sentiment: Some analysts remain constructive, citing Rocket Lab’s competitive position and growing backlog, although several lowered price targets after the results. Analyst commentary
• Negative Sentiment: The GAAP loss of $0.12 per share was wider than the roughly $0.07 loss analysts expected, while the company continued to forecast an adjusted EBITDA loss for Q4. The earnings miss appears to have overshadowed revenue growth and contributed to pressure on the shares. Q3 earnings reaction
• Negative Sentiment: Neutron’s first launch is now expected no earlier than 2027, delaying a key future growth catalyst and adding uncertainty around development costs and execution. Neutron delay and investor reaction

Wall Street Analysts Forecast Growth

RKLB has been the topic of a number of research reports. Citigroup restated a “market outperform” rating on shares of Rocket Lab in a report on Friday, October 16th. Needham & Company LLC reaffirmed a “buy” rating and set a $120.00 price objective on shares of Rocket Lab in a report on Friday, October 16th. Wall Street Zen downgraded Rocket Lab from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Raymond James Financial began coverage on Rocket Lab in a research report on Friday, September 11th. They set an “outperform” rating and a $80.00 target price on the stock. Finally, TD Cowen reissued a “buy” rating and issued a $90.00 target price on shares of Rocket Lab in a report on Thursday, October 15th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Rocket Lab presently has an average rating of “Moderate Buy” and a consensus price target of $100.10.

Insiders Place Their Bets

In other news, SVP Arjun Kampani sold 6,034 shares of the firm’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $66.65, for a total transaction of $402,166.10. Following the completion of the transaction, the senior vice president directly owned 250,917 shares of the company’s stock, valued at $16,723,618.05. This trade represents a 2.35% decrease in their position. The sale 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, insider Marvin Clevenger sold 15,051 shares of Rocket Lab stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $69.63, for a total value of $1,048,001.13. Following the transaction, the insider owned 458,924 shares of the company’s stock, valued at $31,954,878.12. This represents a 3.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Over the last ninety days, insiders sold 551,832 shares of company stock valued at $34,940,037. Corporate insiders own 8.40% of the company’s stock.

About Rocket Lab

Rocket Lab is a space company that provides launch services and spacecraft and satellite systems for commercial, civil, and national security customers. Founded in 2006 by Peter Beck, the company operates internationally, with headquarters in Long Beach, California, and launch operations in New Zealand and the United States. Its launch business centers on Electron, a small orbital rocket designed to carry satellites to space, and HASTE, a suborbital vehicle used for hypersonic test missions. Rocket Lab is also developing Neutron, a larger launch vehicle.