Swiss National Bank Purchases 212,700 Shares of Rocket Lab Corporation $RKLB

Swiss National Bank grew its holdings in shares of Rocket Lab Corporation (NASDAQ:RKLB) by 17.8% in the first quarter, Holdings Channel.com reports. The firm owned 1,410,930 shares of the rocket manufacturer’s stock after buying an additional 212,700 shares during the period. Swiss National Bank’s holdings in Rocket Lab were worth $90,610,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of RKLB. Aventura Private Wealth LLC purchased a new position in Rocket Lab in the 4th quarter valued at approximately $25,000. Mcguire Capital Advisors Inc. bought a new position in shares of Rocket Lab in the fourth quarter worth $27,000. Zions Bancorporation National Association UT bought a new position in shares of Rocket Lab in the fourth quarter worth $28,000. Gordian Capital Singapore Pte Ltd bought a new position in Rocket Lab in the 4th quarter worth about $29,000. Finally, Reflection Asset Management purchased a new position in Rocket Lab during the 4th quarter valued at about $30,000. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Key Rocket Lab News

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

• Neutral Sentiment: Recent articles highlight that RKLB has been falling quickly, with traders and retail investors debating whether the stock is now oversold or still has further downside. Should You Buy Rocket Lab Stock Below $70?
• Neutral Sentiment: Despite the selloff, some retail investors remain bullish on Rocket Lab, arguing that a future catalyst could help the stock recover if execution improves. Reddit Still Believes in Rocket Lab Even as Shares Slide: Inside the Retail Sentiment
• Neutral Sentiment: One article noted Rocket Lab’s shares have declined more than the broader market in the latest session, underscoring the recent weak momentum in the name. Rocket Lab Corporation (RKLB) Declines More Than Market: Some Information for Investors
• Neutral Sentiment: Coverage also points to Rocket Lab’s growing competition with SpaceX, with investors watching whether RKLB can establish itself as a stronger direct rival in the space launch market. Rocket Lab’s Latest Deal Puts It on a Collision Course With SpaceX
• Negative Sentiment: Sentiment in one piece suggested that SpaceX-related market enthusiasm may be fading, which is spilling over into Rocket Lab and weighing on the stock. SpaceX’s IPO Shine Fades, Taking ASTS And RKLB With It — But There Are 2 Surprise Winners This Month

Insider Activity

In other Rocket Lab news, CEO Peter Beck sold 990,960 shares of the business’s stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $82.86, for a total value of $82,110,945.60. Following the sale, the chief executive officer directly owned 1,724,221 shares of the company’s stock, valued at approximately $142,868,952.06. The trade was a 36.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Marvin Bradford Clevenger sold 3,500 shares of the company’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $146.67, for a total transaction of $513,345.00. Following the completion of the transaction, the insider owned 473,975 shares in the company, valued at approximately $69,517,913.25. The trade was a 0.73% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 3,849,294 shares of company stock worth $362,816,208. 8.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on RKLB. Wells Fargo & Company initiated coverage on shares of Rocket Lab in a research note on Wednesday, April 1st. They set an “equal weight” rating and a $60.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and issued a $120.00 price target on shares of Rocket Lab in a report on Tuesday, June 30th. Stifel Nicolaus set a $132.00 price target on shares of Rocket Lab in a report on Thursday, June 4th. TD Cowen upped their target price on Rocket Lab from $90.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Finally, Citizens Jmp lifted their price target on Rocket Lab from $95.00 to $130.00 and gave the company a “market outperform” rating in a research report on Tuesday, June 30th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $110.18.

Rocket Lab Price Performance

RKLB stock opened at $65.74 on Tuesday. The firm’s 50-day moving average price is $106.94 and its two-hundred day moving average price is $87.24. Rocket Lab Corporation has a 12-month low of $37.57 and a 12-month high of $151.00. The stock has a market capitalization of $38.05 billion, a price-to-earnings ratio of -205.44 and a beta of 2.54. The company has a current ratio of 4.47, a quick ratio of 4.02 and a debt-to-equity ratio of 0.02.

Rocket Lab (NASDAQ:RKLB) last announced its quarterly earnings results on Thursday, May 7th. The rocket manufacturer reported ($0.07) EPS for the quarter, hitting analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $189.65 million. During the same quarter last year, the firm posted ($0.12) earnings per share. The firm’s revenue was up 63.4% on a year-over-year basis. As a group, equities analysts predict that Rocket Lab Corporation will post -0.26 earnings per share for the current year.

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.