17,782 Shares in Rocket Lab Corporation $RKLB Bought by Valeo Financial Advisors LLC

Valeo Financial Advisors LLC bought a new stake in shares of Rocket Lab Corporation (NASDAQ:RKLB) during the 2nd quarter, Holdings Channel reports. The firm bought 17,782 shares of the rocket manufacturer’s stock, valued at approximately $636,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of RKLB. EverSource Wealth Advisors LLC lifted its position in shares of Rocket Lab by 109.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 796 shares of the rocket manufacturer’s stock valued at $28,000 after buying an additional 416 shares in the last quarter. Atlantic Union Bankshares Corp bought a new stake in Rocket Lab during the 2nd quarter worth approximately $36,000. Kilter Group LLC purchased a new position in Rocket Lab during the second quarter valued at approximately $37,000. ORG Partners LLC boosted its position in shares of Rocket Lab by 491.9% in the second quarter. ORG Partners LLC now owns 1,095 shares of the rocket manufacturer’s stock worth $38,000 after purchasing an additional 910 shares during the period. 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 worth $48,000 after purchasing an additional 1,300 shares in the last quarter. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Rocket Lab Stock Down 2.8%

RKLB opened at $53.96 on Thursday. The company has a market capitalization of $28.82 billion, a PE ratio of -142.00 and a beta of 2.20. The firm has a 50-day simple moving average of $54.51 and a two-hundred day simple moving average of $46.65. The company has a quick ratio of 2.83, a current ratio of 3.18 and a debt-to-equity ratio of 0.32. Rocket Lab Corporation has a 52 week low of $14.71 and a 52 week high of $73.97.

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

Insider Transactions at Rocket Lab

In related news, SVP Arjun Kampani sold 28,615 shares of the business’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $40.65, for a total value of $1,163,199.75. Following the sale, the senior vice president owned 461,014 shares in the company, valued at approximately $18,740,219.10. The trade was a 5.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Frank Klein sold 41,782 shares of the company’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $40.65, for a total transaction of $1,698,438.30. Following the sale, the insider directly owned 1,274,223 shares in the company, valued at approximately $51,797,164.95. The trade was a 3.17% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 3,566,759 shares of company stock valued at $191,361,452 in the last 90 days. Company insiders own 11.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Baird R W upgraded shares of Rocket Lab to a “strong-buy” rating in a research note on Thursday, October 16th. Robert W. Baird assumed coverage on Rocket Lab in a report on Wednesday, October 15th. They set an “outperform” rating and a $83.00 price target on the stock. Roth Capital restated a “buy” rating and issued a $75.00 price objective on shares of Rocket Lab in a research report on Tuesday, November 11th. Bank of America increased their target price on Rocket Lab from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, November 19th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $75.00 target price (up previously from $65.00) on shares of Rocket Lab in a research note on Tuesday, November 11th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Rocket Lab has an average rating of “Moderate Buy” and a consensus price target of $58.17.

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.