Claro Advisors Inc. Sells 20,000 Shares of Rocket Lab Corporation $RKLB

Claro Advisors Inc. reduced its stake in Rocket Lab Corporation (NASDAQ:RKLB) by 49.9% during the fourth quarter, HoldingsChannel reports. The fund owned 20,087 shares of the rocket manufacturer’s stock after selling 20,000 shares during the period. Claro Advisors Inc.’s holdings in Rocket Lab were worth $1,401,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of RKLB. Aventura Private Wealth LLC purchased a new stake in shares of Rocket Lab in the fourth quarter worth $25,000. EverSource Wealth Advisors LLC grew its stake in shares of Rocket Lab by 109.5% in the second quarter. EverSource Wealth Advisors LLC now owns 796 shares of the rocket manufacturer’s stock worth $28,000 after acquiring an additional 416 shares during the last quarter. Zions Bancorporation National Association UT purchased a new stake in shares of Rocket Lab in the fourth quarter worth $28,000. Gordian Capital Singapore Pte Ltd purchased a new stake in shares of Rocket Lab in the fourth quarter worth $29,000. Finally, Ankerstar Wealth LLC purchased a new stake in shares of Rocket Lab in the fourth quarter worth $31,000. 71.78% of the stock is owned by hedge funds and other institutional investors.

Rocket Lab Trading Up 3.2%

Rocket Lab stock opened at $107.98 on Thursday. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.47 and a quick ratio of 4.02. Rocket Lab Corporation has a one year low of $26.23 and a one year high of $151.00. The stock has a market capitalization of $62.49 billion, a PE ratio of -337.44 and a beta of 2.49. The business’s fifty day moving average is $104.00 and its 200 day moving average is $82.68.

Rocket Lab (NASDAQ:RKLB) last released its quarterly earnings data on Thursday, May 7th. The rocket manufacturer reported ($0.07) EPS for the quarter, meeting the consensus estimate of ($0.07). Rocket Lab had a negative return on equity of 11.72% and a negative net margin of 26.87%.The company had revenue of $200.35 million for the quarter, compared to analysts’ expectations of $189.65 million. During the same period last year, the firm posted ($0.12) earnings per share. Rocket Lab’s revenue was up 63.4% compared to the same quarter last year. On average, sell-side analysts predict that Rocket Lab Corporation will post -0.29 EPS for the current year.

Insider Activity at Rocket Lab

In related news, insider Frank Klein sold 36,860 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $147.42, for a total transaction of $5,433,901.20. Following the sale, the insider directly owned 1,006,987 shares of the company’s stock, valued at $148,450,023.54. This trade represents a 3.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Arjun Kampani sold 23,804 shares of the stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $147.43, for a total value of $3,509,423.72. Following the sale, the senior vice president directly owned 352,705 shares in the company, valued at $51,999,298.15. This trade represents a 6.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 485,515 shares of company stock valued at $66,909,882 over the last three months. 8.40% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Rocket Lab in a research note on Wednesday, May 27th. Deutsche Bank Aktiengesellschaft increased their target price on Rocket Lab from $73.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. KGI Securities began coverage on Rocket Lab in a research report on Thursday, June 11th. They issued a “neutral” rating and a $105.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rocket Lab in a research report on Tuesday, April 21st. Finally, Clear Str raised Rocket Lab to a “strong-buy” rating in a research report on Wednesday, March 18th. Three research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $102.76.

Key Stories Impacting Rocket Lab

Here are the key news stories impacting Rocket Lab this week:

• Positive Sentiment: Rocket Lab will join the Nasdaq-100 on June 22, a milestone that should increase institutional demand and index-related buying. Rocket Lab (RKLB) to Join Nasdaq-100 Index on June 22
• Positive Sentiment: Wall Street sentiment has improved, with analyst upgrades and higher price targets adding momentum ahead of the index inclusion. Why Rocket Lab (RKLB) Stock Is Up Today
• Positive Sentiment: Several recent articles argue Rocket Lab remains one of the stronger public space stocks, citing backlog growth, defense demand, and vertical integration as long-term positives for the business. Planet Labs vs. Rocket Lab: Which Space Stock Has an Edge?
• Neutral Sentiment: Some commentary suggests the stock is still expensive after a big run and may be vulnerable to valuation-based pullbacks if momentum slows. Jim Cramer on Rocket Lab: “While the Stock’s Cheaper Than SpaceX, It’s Still Pretty Darn Expensive”
• Negative Sentiment: Short-term traders have also noted that Rocket Lab has cooled from recent highs, with some pieces framing the move as a reversal after a strong rally. RKLB stock suffers a brutal reversal as a bullish pattern begins to take shape

About Rocket Lab

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.