TrueWealth Financial Partners Makes New Investment in Rocket Lab Corporation $RKLB

TrueWealth Financial Partners purchased a new position in shares of Rocket Lab Corporation (NASDAQ:RKLB) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,500 shares of the rocket manufacturer’s stock, valued at approximately $314,000.

A number of other large investors have also recently made changes to their positions in RKLB. Baillie Gifford & Co. increased its stake in shares of Rocket Lab by 176.1% during the third quarter. Baillie Gifford & Co. now owns 12,125,910 shares of the rocket manufacturer’s stock worth $580,952,000 after buying an additional 7,734,788 shares during the period. Vanguard Group Inc. increased its stake in shares of Rocket Lab by 13.4% during the fourth quarter. Vanguard Group Inc. now owns 47,420,192 shares of the rocket manufacturer’s stock worth $3,308,033,000 after buying an additional 5,610,469 shares during the period. Alliancebernstein L.P. increased its stake in shares of Rocket Lab by 818.8% during the third quarter. Alliancebernstein L.P. now owns 2,190,132 shares of the rocket manufacturer’s stock worth $104,929,000 after buying an additional 1,951,755 shares during the period. Amundi increased its stake in shares of Rocket Lab by 308.4% during the third quarter. Amundi now owns 2,301,568 shares of the rocket manufacturer’s stock worth $110,268,000 after buying an additional 1,738,038 shares during the period. Finally, State Street Corp increased its stake in shares of Rocket Lab by 13.6% during the third quarter. State Street Corp now owns 12,399,571 shares of the rocket manufacturer’s stock worth $594,063,000 after buying an additional 1,487,237 shares during the period. 71.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on RKLB. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $120.00 target price on shares of Rocket Lab in a research note on Tuesday. Bank of America upped their target price on shares of Rocket Lab from $60.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. Citizens Jmp upped their target price on shares of Rocket Lab from $85.00 to $95.00 and gave the stock a “market outperform” rating in a research note on Friday, May 8th. Roth Mkm upped their target price on shares of Rocket Lab from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, April 17th. Finally, New Street Research began coverage on shares of Rocket Lab in a research note on Wednesday. They set a “buy” rating on the stock. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $93.67.

Insider Buying and Selling

In other Rocket Lab news, CEO Peter Beck sold 18,857 shares of the stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $69.59, for a total value of $1,312,258.63. Following the transaction, the chief executive officer directly owned 884,085 shares in the company, valued at $61,523,475.15. This represents a 2.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Adam C. Spice sold 62,744 shares of the stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $69.59, for a total transaction of $4,366,354.96. Following the completion of the transaction, the chief financial officer owned 1,296,824 shares in the company, valued at $90,245,982.16. This represents a 4.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 233,449 shares of company stock valued at $16,487,233 over the last three months. 8.40% of the stock is currently owned by insiders.

Rocket Lab News Roundup

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

• Positive Sentiment: Rocket Lab’s strong Q1 results and raised outlook are still driving buying interest, as the company beat revenue expectations and issued guidance that came in well above forecasts. Rocket Lab (RKLB) Stock Trades Up, Here Is Why
• Positive Sentiment: Needham’s higher price target and upbeat analyst commentary added to the momentum, signaling Wall Street sees more upside after the earnings beat. Why Is Rocket Lab Stock Surging On Wednesday?
• Positive Sentiment: Investors are also betting on Rocket Lab’s Neutron launch later this year, which could expand the company’s role in the medium-lift rocket market and broaden its revenue opportunity. Rocket Lab Stock Is Getting a Major Lift. Investors Are Betting on Its Neutron Launch Later This Year.
• Positive Sentiment: New business wins and strategic work with defense partner Anduril on hypersonics support the view that Rocket Lab’s technology is gaining broader commercial and defense traction. Anduril Hires Rocket Lab to Help It With Hypersonics
• Neutral Sentiment: Broader space-sector enthusiasm, including chatter around a potential SpaceX IPO and orbital data-center projects, has lifted the group and helped keep RKLB in focus. Space Stocks Jump As SpaceX, Google Explore Orbital Data Center Deal
• Negative Sentiment: After the sharp run-up, some articles are questioning valuation and whether investors should take profits, while noting execution risks around Neutron development and supply-chain constraints. Rocket Lab Stock Advances 74% in 3 Months: Time to Take Profits?

Rocket Lab Stock Performance

Shares of Rocket Lab stock opened at $124.15 on Thursday. The firm has a market capitalization of $70.69 billion, a P/E ratio of -387.97 and a beta of 2.30. Rocket Lab Corporation has a 52 week low of $21.86 and a 52 week high of $127.24. The company has a quick ratio of 4.02, a current ratio of 4.47 and a debt-to-equity ratio of 0.02. The firm’s 50 day moving average is $76.51 and its two-hundred day moving average is $69.96.

Rocket Lab (NASDAQ:RKLB) last announced its quarterly earnings results on Thursday, May 7th. The rocket manufacturer reported ($0.07) EPS for the quarter, meeting the consensus estimate of ($0.07). The company had revenue of $200.35 million for the quarter, compared to analyst estimates of $189.65 million. Rocket Lab had a negative net margin of 26.87% and a negative return on equity of 11.72%. The firm’s revenue was up 63.4% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.12) earnings per share. Research analysts forecast that Rocket Lab Corporation will post -0.22 EPS for the current fiscal year.

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.