Windmill Hill Asset Management Ltd Makes New Investment in Rocket Lab Corporation $RKLB

Windmill Hill Asset Management Ltd bought a new position in shares of Rocket Lab Corporation (NASDAQ:RKLB) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 22,089 shares of the rocket manufacturer’s stock, valued at approximately $1,058,000. Rocket Lab accounts for approximately 0.3% of Windmill Hill Asset Management Ltd’s holdings, making the stock its 11th biggest position.

A number of other large investors have also recently bought and sold shares of the stock. Cadent Capital Advisors LLC bought a new position in Rocket Lab during the third quarter worth about $668,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Rocket Lab by 44.7% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 992,777 shares of the rocket manufacturer’s stock valued at $35,512,000 after purchasing an additional 306,713 shares during the period. Orion Porfolio Solutions LLC acquired a new stake in Rocket Lab during the 2nd quarter valued at $1,009,000. McGuire Investment Group LLC raised its holdings in Rocket Lab by 91.3% in the 2nd quarter. McGuire Investment Group LLC now owns 196,107 shares of the rocket manufacturer’s stock valued at $7,015,000 after acquiring an additional 93,613 shares during the period. Finally, Norges Bank acquired a new stake in shares of Rocket Lab during the second quarter worth $164,751,000. 71.78% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Rocket Lab news, CFO Adam C. Spice sold 1,365,665 shares of the business’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $75.50, for a total value of $103,107,707.50. Following the sale, the chief financial officer directly owned 1,359,568 shares in the company, valued at $102,647,384. The trade was a 50.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Edward H. Frank sold 2,500 shares of the company’s stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $77.39, for a total transaction of $193,475.00. Following the sale, the director directly owned 142,504 shares in the company, valued at approximately $11,028,384.56. This trade represents a 1.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 4,306,150 shares of company stock valued at $271,865,732. Company insiders own 11.90% of the company’s stock.

Rocket Lab Stock Performance

Shares of Rocket Lab stock opened at $83.47 on Tuesday. The business has a 50 day moving average price of $66.40 and a 200-day moving average price of $56.50. Rocket Lab Corporation has a 52 week low of $14.71 and a 52 week high of $99.58. The company has a market cap of $44.59 billion, a PE ratio of -218.63 and a beta of 2.16. 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 (NASDAQ:RKLB) last released its quarterly earnings results on Monday, November 10th. The rocket manufacturer reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $152.45 million. During the same period last year, the firm earned ($0.10) earnings per share. The firm’s revenue was up 48.0% on a year-over-year basis. Equities analysts anticipate that Rocket Lab Corporation will post -0.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Needham & Company LLC boosted their price target on Rocket Lab from $63.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, December 23rd. Roth Mkm restated a “buy” rating and set a $75.00 price objective on shares of Rocket Lab in a research report on Tuesday, November 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rocket Lab in a research report on Thursday. Stifel Nicolaus increased their target price on shares of Rocket Lab from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 22nd. Finally, Robert W. Baird upgraded Rocket Lab to a “strong-buy” rating in a research note on Thursday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $72.92.

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.