Metis Global Partners LLC Buys Shares of 14,394 Rocket Lab Corporation $RKLB

Metis Global Partners LLC bought a new position in shares of Rocket Lab Corporation (NASDAQ:RKLB) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 14,394 shares of the rocket manufacturer’s stock, valued at approximately $690,000.

Several other hedge funds also recently modified their holdings of the company. Arizona State Retirement System increased its holdings in Rocket Lab by 13.6% in the third quarter. Arizona State Retirement System now owns 127,794 shares of the rocket manufacturer’s stock worth $6,123,000 after purchasing an additional 15,307 shares in the last quarter. Cadent Capital Advisors LLC acquired a new stake in shares of Rocket Lab during the 3rd quarter worth approximately $668,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Rocket Lab by 44.7% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 992,777 shares of the rocket manufacturer’s stock valued at $35,512,000 after acquiring an additional 306,713 shares in the last quarter. Orion Porfolio Solutions LLC acquired a new position in shares of Rocket Lab during the 2nd quarter valued at $1,009,000. Finally, Norges Bank bought a new position in Rocket Lab during the second quarter worth $164,751,000. Institutional investors and hedge funds own 71.78% of the company’s stock.

Rocket Lab Stock Up 3.6%

RKLB opened at $69.89 on Wednesday. Rocket Lab Corporation has a fifty-two week low of $14.71 and a fifty-two week high of $99.58. The firm has a market capitalization of $37.33 billion, a P/E ratio of -183.92 and a beta of 2.16. The company’s 50-day moving average is $76.19 and its 200 day moving average is $59.70. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.18 and a quick ratio of 2.83.

Analyst Ratings Changes

RKLB has been the subject of several research analyst reports. Stifel Nicolaus lifted their price target on shares of Rocket Lab from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, December 22nd. Citigroup reaffirmed a “market perform” rating on shares of Rocket Lab in a research report on Wednesday, November 12th. TD Cowen reiterated a “buy” rating on shares of Rocket Lab in a report on Thursday, January 22nd. Wall Street Zen upgraded Rocket Lab from a “sell” rating to a “hold” rating in a report on Sunday, February 8th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Rocket Lab in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $72.92.

Insider Buying and Selling

In other Rocket Lab news, CFO Adam C. Spice sold 1,365,665 shares of the business’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $75.50, for a total value of $103,107,707.50. Following the transaction, the chief financial officer owned 1,359,568 shares of the company’s stock, valued at approximately $102,647,384. The trade was a 50.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Frank Klein sold 100,000 shares of Rocket Lab stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $72.95, for a total value of $7,295,000.00. Following the sale, the insider owned 1,169,487 shares in the company, valued at $85,314,076.65. The trade was a 7.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 4,306,150 shares of company stock valued at $271,865,732 over the last quarter. Corporate insiders own 11.90% of the company’s stock.

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.