HRT Financial LP Buys Shares of 1,660,890 Rocket Lab Corporation $RKLB

HRT Financial LP purchased a new stake in shares of Rocket Lab Corporation (NASDAQ:RKLB) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,660,890 shares of the rocket manufacturer’s stock, valued at approximately $59,410,000. HRT Financial LP owned approximately 0.36% of Rocket Lab at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its holdings in shares of Rocket Lab by 109.5% during the second quarter. EverSource Wealth Advisors LLC now owns 796 shares of the rocket manufacturer’s stock worth $28,000 after purchasing an additional 416 shares during the period. Atlantic Union Bankshares Corp bought a new position in Rocket Lab during the 2nd quarter worth $36,000. Kilter Group LLC acquired a new position in Rocket Lab during the 2nd quarter worth about $37,000. ORG Partners LLC grew its position in shares of Rocket Lab by 491.9% in the 2nd quarter. ORG Partners LLC now owns 1,095 shares of the rocket manufacturer’s stock valued at $38,000 after buying an additional 910 shares during the last quarter. Finally, Golden State Wealth Management LLC increased its stake in shares of Rocket Lab by 3,250.0% in the second quarter. Golden State Wealth Management LLC now owns 1,340 shares of the rocket manufacturer’s stock valued at $48,000 after buying an additional 1,300 shares during the period. Institutional investors and hedge funds own 71.78% of the company’s stock.

Insider Activity

In related news, CFO Adam C. Spice sold 874,588 shares of the business’s stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $48.01, for a total transaction of $41,988,969.88. Following the transaction, the chief financial officer directly owned 2,057,889 shares in the company, valued at approximately $98,799,250.89. The trade was a 29.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Peter Beck sold 1,436,442 shares of the company’s stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $48.75, for a total transaction of $70,026,547.50. Following the completion of the sale, the chief executive officer directly owned 2,500,000 shares of the company’s stock, valued at $121,875,000. The trade was a 36.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 5,583,532 shares of company stock worth $274,781,358. Company insiders own 11.90% of the company’s stock.

Analysts Set New Price Targets

RKLB has been the topic of a number of recent analyst reports. Baird R W raised Rocket Lab to a “strong-buy” rating in a research note on Thursday, October 16th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Rocket Lab in a research note on Wednesday, December 3rd. KeyCorp lifted their target price on shares of Rocket Lab from $50.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday, October 17th. Morgan Stanley dropped their target price on shares of Rocket Lab from $68.00 to $67.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 12th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $75.00 price target (up from $65.00) on shares of Rocket Lab in a report on Tuesday, November 11th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $58.17.

Rocket Lab Stock Down 3.2%

Shares of NASDAQ:RKLB opened at $61.49 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.83 and a current ratio of 3.18. Rocket Lab Corporation has a 52-week low of $14.71 and a 52-week high of $73.97. The business’s 50 day simple moving average is $54.92 and its two-hundred day simple moving average is $45.95. The firm has a market cap of $32.85 billion, a P/E ratio of -161.82 and a beta of 2.20.

Rocket Lab (NASDAQ:RKLB) last posted its earnings results on Monday, November 10th. The rocket manufacturer reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.02. Rocket Lab had a negative net margin of 35.64% and a negative return on equity of 27.26%. The company had revenue of $155.08 million during the quarter, compared to the consensus estimate of $152.45 million. During the same period in the previous year, the firm posted ($0.10) earnings per share. The firm’s revenue for the quarter was up 48.0% on a year-over-year basis. As a group, research analysts forecast that Rocket Lab Corporation will post -0.38 EPS for the current fiscal year.

About Rocket Lab

Rocket Lab USA, Inc, a space company, provides launch services and space systems solutions for the space and defense industries. The company provides launch services, spacecraft design services, spacecraft components, spacecraft manufacturing, and other spacecraft and on-orbit management solutions; and constellation management services, as well as designs and manufactures small and medium-class rockets.