Rocket Lab Corporation (NASDAQ:RKLB) Short Interest Update

Rocket Lab Corporation (NASDAQ:RKLB) was the target of a large growth in short interest in April. As of April 15th, there was short interest totaling 31,516,624 shares, a growth of 26.6% from the March 31st total of 24,895,763 shares. Based on an average daily trading volume, of 23,337,857 shares, the short-interest ratio is presently 1.4 days. Currently, 6.3% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on RKLB shares. TD Cowen reissued a “buy” rating on shares of Rocket Lab in a research note on Thursday, January 22nd. Wall Street Zen raised shares of Rocket Lab from a “sell” rating to a “hold” rating in a research note on Sunday, February 8th. Cantor Fitzgerald reissued an “overweight” rating and issued a $85.00 price target on shares of Rocket Lab in a research note on Friday, March 13th. Morgan Stanley raised shares of Rocket Lab from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $67.00 to $105.00 in a research note on Friday, January 16th. Finally, KeyCorp cut shares of Rocket Lab from an “overweight” rating to a “sector weight” rating in a research note on Thursday, January 15th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $83.31.

Rocket Lab Price Performance

RKLB traded down $3.19 on Friday, hitting $79.32. 12,277,201 shares of the company’s stock were exchanged, compared to its average volume of 22,476,982. Rocket Lab has a fifty-two week low of $20.23 and a fifty-two week high of $99.58. The company has a current ratio of 4.08, a quick ratio of 3.61 and a debt-to-equity ratio of 0.10. The firm has a 50-day moving average price of $72.26 and a 200-day moving average price of $68.20. The stock has a market cap of $45.17 billion, a price-to-earnings ratio of -214.25 and a beta of 2.20.

Insiders Place Their Bets

In other news, Director Merline Saintil sold 18,126 shares of Rocket Lab stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $75.04, for a total transaction of $1,360,175.04. Following the completion of the transaction, the director directly owned 261,903 shares of the company’s stock, valued at $19,653,201.12. The trade was a 6.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Peter Beck sold 18,857 shares of Rocket Lab stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $69.59, for a total transaction of $1,312,258.63. Following the transaction, the chief executive officer directly owned 884,085 shares of the company’s stock, valued at approximately $61,523,475.15. This trade represents a 2.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 233,449 shares of company stock worth $16,487,233. Insiders own 8.40% of the company’s stock.

Institutional Investors Weigh In On Rocket Lab

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Rocket Lab by 13.4% during the 4th quarter. Vanguard Group Inc. now owns 47,420,192 shares of the rocket manufacturer’s stock worth $3,308,033,000 after purchasing an additional 5,610,469 shares during the last quarter. Baillie Gifford & Co. boosted its stake in Rocket Lab by 47.2% during the 4th quarter. Baillie Gifford & Co. now owns 17,851,446 shares of the rocket manufacturer’s stock worth $1,245,317,000 after purchasing an additional 5,725,536 shares during the last quarter. Capital World Investors boosted its stake in Rocket Lab by 12.0% during the 4th quarter. Capital World Investors now owns 16,200,726 shares of the rocket manufacturer’s stock worth $1,130,172,000 after purchasing an additional 1,738,623 shares during the last quarter. State Street Corp boosted its stake in Rocket Lab by 1.0% during the 4th quarter. State Street Corp now owns 12,520,223 shares of the rocket manufacturer’s stock worth $873,411,000 after purchasing an additional 120,652 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Rocket Lab by 10.1% during the 4th quarter. Geode Capital Management LLC now owns 9,004,724 shares of the rocket manufacturer’s stock worth $626,605,000 after purchasing an additional 825,158 shares during the last quarter. Institutional investors and hedge funds own 71.78% of the company’s stock.

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.