22,089 Shares in Rocket Lab Corporation $RKLB Purchased by Windmill Hill Asset Management Ltd

Windmill Hill Asset Management Ltd purchased a new position in Rocket Lab Corporation (NASDAQ:RKLB) in the third quarter, HoldingsChannel reports. The institutional investor purchased 22,089 shares of the rocket manufacturer’s stock, valued at approximately $1,058,000. Rocket Lab makes up approximately 0.3% of Windmill Hill Asset Management Ltd’s holdings, making the stock its 11th biggest holding.

Several other institutional investors and hedge funds have also recently made changes to their positions in RKLB. Wilmington Savings Fund Society FSB bought a new position in Rocket Lab in the third quarter valued at $25,000. Hara Capital LLC purchased a new position in shares of Rocket Lab in the 3rd quarter worth about $25,000. Sound Income Strategies LLC purchased a new position in shares of Rocket Lab in the 3rd quarter worth about $27,000. EverSource Wealth Advisors LLC increased its position in shares of Rocket Lab by 109.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 796 shares of the rocket manufacturer’s stock valued at $28,000 after purchasing an additional 416 shares during the last quarter. Finally, Financial Consulate Inc. purchased a new position in shares of Rocket Lab during the 3rd quarter valued at about $35,000. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Insider Buying and Selling at Rocket Lab

In other news, Director Merline Saintil sold 96,000 shares of the company’s stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $86.58, for a total transaction of $8,311,680.00. Following the completion of the sale, the director owned 292,529 shares of the company’s stock, valued at $25,327,160.82. This represents a 24.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Adam C. Spice sold 1,365,665 shares of Rocket Lab stock in a transaction on Monday, January 5th. The stock was sold at an average price of $75.50, for a total transaction of $103,107,707.50. Following the transaction, the chief financial officer owned 1,359,568 shares in the company, valued at $102,647,384. This represents a 50.11% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 4,306,150 shares of company stock worth $271,865,732. 11.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on RKLB. TD Cowen reiterated a “buy” rating on shares of Rocket Lab in a research report on Thursday. KeyCorp lowered shares of Rocket Lab from an “overweight” rating to a “sector weight” rating in a report on Thursday, January 15th. Wall Street Zen raised shares of Rocket Lab from a “sell” rating to a “hold” rating in a research note on Saturday, January 3rd. Citigroup reaffirmed a “market perform” rating on shares of Rocket Lab in a research note on Wednesday, November 12th. Finally, Needham & Company LLC boosted their target price on Rocket Lab from $63.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, December 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Rocket Lab currently has a consensus rating of “Moderate Buy” and an average price target of $72.92.

Rocket Lab Price Performance

Shares of RKLB stock opened at $83.47 on Tuesday. Rocket Lab Corporation has a twelve month low of $14.71 and a twelve month high of $99.58. The stock has a market cap of $44.59 billion, a price-to-earnings ratio of -218.63 and a beta of 2.16. The business’s fifty day moving average is $66.40 and its 200 day moving average is $56.50. The company has a quick ratio of 2.83, a current ratio of 3.18 and a debt-to-equity ratio of 0.32.

Rocket Lab (NASDAQ:RKLB) last issued 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 for the quarter, compared to analysts’ expectations of $152.45 million. Rocket Lab had a negative return on equity of 27.26% and a negative net margin of 35.64%.The business’s revenue for the quarter was up 48.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.10) EPS. Research analysts expect that Rocket Lab Corporation will post -0.38 EPS for the current fiscal year.

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.