Teamwork Financial Advisors LLC Has $1.22 Million Stake in Rocket Lab Corporation $RKLB

Teamwork Financial Advisors LLC grew its holdings in Rocket Lab Corporation (NASDAQ:RKLB) by 139.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 25,390 shares of the rocket manufacturer’s stock after purchasing an additional 14,800 shares during the quarter. Teamwork Financial Advisors LLC’s holdings in Rocket Lab were worth $1,216,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. EverSource Wealth Advisors LLC boosted its stake in 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 purchasing an additional 416 shares during the period. Atlantic Union Bankshares Corp bought a new stake in shares of Rocket Lab in the second quarter valued at approximately $36,000. Kilter Group LLC acquired a new stake in shares of Rocket Lab in the second quarter worth $37,000. ORG Partners LLC grew its stake 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 acquiring an additional 910 shares during the last quarter. Finally, Golden State Wealth Management LLC increased its position in Rocket Lab by 3,250.0% during the second quarter. Golden State Wealth Management LLC now owns 1,340 shares of the rocket manufacturer’s stock worth $48,000 after acquiring an additional 1,300 shares during the period. 71.78% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

RKLB has been the subject of a number of research reports. Cantor Fitzgerald reissued an “overweight” rating on shares of Rocket Lab in a report on Wednesday, December 3rd. Robert W. Baird assumed coverage on shares of Rocket Lab in a research note on Wednesday, October 15th. They issued an “outperform” rating and a $83.00 target price for the company. Morgan Stanley lowered their price target on Rocket Lab from $68.00 to $67.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 12th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $75.00 price target (up previously from $65.00) on shares of Rocket Lab in a report on Tuesday, November 11th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Rocket Lab in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $58.17.

Insider Activity

In related news, SVP Arjun Kampani sold 10,554 shares of the stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $42.08, for a total transaction of $444,112.32. Following the completion of the sale, the senior vice president owned 450,460 shares in the company, valued at $18,955,356.80. This trade represents a 2.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Peter Beck sold 939,746 shares of Rocket Lab stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $54.73, for a total transaction of $51,432,298.58. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 2,697,171 shares of company stock worth $149,644,782 in the last quarter. 11.90% of the stock is owned by company insiders.

Rocket Lab Stock Performance

NASDAQ:RKLB opened at $59.92 on Friday. The firm has a market capitalization of $32.01 billion, a PE ratio of -157.68 and a beta of 2.20. 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 12-month low of $14.71 and a 12-month high of $73.97. The firm has a 50-day moving average price of $54.38 and a 200 day moving average price of $46.74.

Rocket Lab (NASDAQ:RKLB) last released its quarterly earnings data on Monday, November 10th. The rocket manufacturer reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.02. The company had revenue of $155.08 million for the quarter, compared to analyst estimates of $152.45 million. Rocket Lab had a negative return on equity of 27.26% and a negative net margin of 35.64%.The company’s revenue was up 48.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.10) EPS. Research analysts anticipate that Rocket Lab Corporation will post -0.38 earnings per share for the current fiscal year.

Rocket Lab Company Profile

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.