68,057 Shares in Rocket Lab Corporation $RKLB Acquired by Kovack Advisors Inc.

Kovack Advisors Inc. acquired a new position in shares of Rocket Lab Corporation (NASDAQ:RKLB) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 68,057 shares of the rocket manufacturer’s stock, valued at approximately $4,748,000.

A number of other hedge funds also recently modified their holdings of the business. Sara Bay Financial raised its position in shares of Rocket Lab by 0.7% in the fourth quarter. Sara Bay Financial now owns 15,905 shares of the rocket manufacturer’s stock valued at $1,121,000 after purchasing an additional 117 shares during the period. ORG Partners LLC grew its stake in Rocket Lab by 9.1% in the 4th quarter. ORG Partners LLC now owns 1,458 shares of the rocket manufacturer’s stock valued at $102,000 after buying an additional 121 shares during the last quarter. Traynor Capital Management Inc. grew its stake in Rocket Lab by 1.9% in the 4th quarter. Traynor Capital Management Inc. now owns 7,191 shares of the rocket manufacturer’s stock valued at $502,000 after buying an additional 133 shares during the last quarter. Capital Advisors Wealth Management LLC raised its holdings in Rocket Lab by 1.0% in the 4th quarter. Capital Advisors Wealth Management LLC now owns 13,466 shares of the rocket manufacturer’s stock worth $939,000 after acquiring an additional 136 shares during the period. Finally, Quadcap Wealth Management LLC raised its holdings in Rocket Lab by 2.3% in the 4th quarter. Quadcap Wealth Management LLC now owns 6,246 shares of the rocket manufacturer’s stock worth $436,000 after acquiring an additional 140 shares during the period. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Arjun Kampani sold 70,000 shares of the stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $145.13, for a total value of $10,159,100.00. Following the completion of the transaction, the senior vice president owned 376,509 shares in the company, valued at approximately $54,642,751.17. This represents a 15.68% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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. Also, CFO Adam C. Spice sold 62,744 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $142.57, for a total transaction of $8,945,412.08. Following the transaction, the chief financial officer directly owned 983,049 shares of the company’s stock, valued at $140,153,295.93. The trade was a 6.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders sold a total of 485,515 shares of company stock valued at $66,909,882 in the last ninety days. 8.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on RKLB. Clear Str upgraded shares of Rocket Lab to a “strong-buy” rating in a report on Wednesday, March 18th. Craig Hallum raised Rocket Lab from a “hold” rating to a “buy” rating and set a $98.00 price objective for the company in a research report on Friday, May 8th. Roth Mkm increased their target price on Rocket Lab from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, April 17th. Citizens Jmp lifted their price target on Rocket Lab from $85.00 to $95.00 and gave the stock a “market outperform” rating in a research report on Friday, May 8th. Finally, Wells Fargo & Company assumed coverage on Rocket Lab in a report on Wednesday, April 1st. They set an “equal weight” rating and a $60.00 price target for the company. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Rocket Lab has a consensus rating of “Moderate Buy” and a consensus price target of $99.24.

Trending Headlines about Rocket Lab

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

• Positive Sentiment: Rocket Lab is benefiting from broad enthusiasm for space stocks as traders position for the SpaceX IPO, with RKLB seen as a direct public alternative in the small-to-medium launch market. Why Rocket Lab (RKLB) Stock Is Up Today
• Positive Sentiment: Analysts and market commentary point to strong investor demand for SpaceX as a catalyst that could push capital into Rocket Lab and other space names. The Biggest Opportunity From SpaceX’s IPO May Surprise You (RKLB)
• Positive Sentiment: Sector-wide buying has lifted multiple space stocks, suggesting RKLB is moving with a broader momentum trade rather than on company-specific news alone. Virgin Galactic Soars 20%, AST SpaceMobile Rises 7%, Planet Labs Gains 6%, Rocket Lab Advances 5% as Space Stocks Catch a Bid

Rocket Lab Stock Up 9.3%

RKLB stock opened at $114.78 on Friday. Rocket Lab Corporation has a twelve month low of $25.24 and a twelve month high of $151.00. 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 company has a market cap of $66.43 billion, a PE ratio of -358.69 and a beta of 2.49. The business’s 50-day simple moving average is $100.89 and its 200 day simple moving average is $80.88.

Rocket Lab (NASDAQ:RKLB) last announced its quarterly earnings data on Thursday, May 7th. The rocket manufacturer reported ($0.07) EPS for the quarter, hitting analysts’ consensus estimates of ($0.07). Rocket Lab had a negative return on equity of 11.72% and a negative net margin of 26.87%.The company had revenue of $200.35 million during the quarter, compared to the consensus estimate of $189.65 million. During the same quarter last year, the company earned ($0.12) EPS. The company’s quarterly revenue was up 63.4% on a year-over-year basis. On average, research analysts anticipate that Rocket Lab Corporation will post -0.29 earnings per share for the current year.

Rocket Lab Company 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.