United Capital Management of KS Inc. Sells 21,427 Shares of Rocket Lab Corporation $RKLB

United Capital Management of KS Inc. lowered its stake in shares of Rocket Lab Corporation (NASDAQ:RKLBFree Report) by 8.9% during the 3rd quarter, Holdings Channel.com reports. The fund owned 218,166 shares of the rocket manufacturer’s stock after selling 21,427 shares during the quarter. Rocket Lab makes up approximately 1.4% of United Capital Management of KS Inc.’s portfolio, making the stock its 23rd largest holding. United Capital Management of KS Inc.’s holdings in Rocket Lab were worth $10,452,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB bought a new position in Rocket Lab during the third quarter valued at approximately $25,000. Hara Capital LLC purchased a new stake in Rocket Lab during the 3rd quarter valued at $25,000. UMB Bank n.a. lifted its holdings in shares of Rocket Lab by 352.5% during the 3rd quarter. UMB Bank n.a. now owns 543 shares of the rocket manufacturer’s stock valued at $26,000 after buying an additional 423 shares during the period. Sound Income Strategies LLC purchased a new position in shares of Rocket Lab in the 3rd quarter worth $27,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Rocket Lab by 109.5% in the second quarter. EverSource Wealth Advisors LLC now owns 796 shares of the rocket manufacturer’s stock worth $28,000 after acquiring an additional 416 shares during the period. 71.78% of the stock is currently owned by institutional investors.

Rocket Lab Stock Down 2.7%

RKLB opened at $70.00 on Friday. The stock has a market cap of $37.39 billion, a price-to-earnings ratio of -189.18 and a beta of 2.20. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.83 and a current ratio of 4.08. The firm’s fifty day moving average is $77.61 and its 200 day moving average is $61.76. Rocket Lab Corporation has a fifty-two week low of $14.71 and a fifty-two week high of $99.58.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Wall Street Zen raised Rocket Lab from a “sell” rating to a “hold” rating in a research report on Sunday, February 8th. Citizens Jmp reissued a “market perform” rating on shares of Rocket Lab in a report on Friday, February 27th. Stifel Nicolaus upped their target price on shares of Rocket Lab from $75.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rocket Lab in a research note on Thursday, January 22nd. Finally, TD Cowen reissued a “buy” rating on shares of Rocket Lab in a research report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Rocket Lab has a consensus rating of “Moderate Buy” and an average target price of $75.92.

Get Our Latest Analysis on RKLB

Trending Headlines about Rocket Lab

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Insiders Place Their Bets

In other news, Director Merline Saintil sold 96,000 shares of the company’s stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $86.58, for a total value of $8,311,680.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Frank Klein sold 100,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at $85,314,076.65. This represents a 7.88% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 4,344,302 shares of company stock valued at $279,695,404. Insiders own 11.90% of the company’s stock.

Rocket Lab Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Rocket Lab (NASDAQ:RKLB)

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