OneDigital Investment Advisors LLC Takes $1.25 Million Position in Rocket Lab Corporation $RKLB

OneDigital Investment Advisors LLC purchased a new stake in Rocket Lab Corporation (NASDAQ:RKLB) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 12,252 shares of the rocket manufacturer’s stock, valued at approximately $1,245,000.

A number of other large investors have also added to or reduced their stakes in the stock. Bank of New York Mellon Corp bought a new stake in shares of Rocket Lab during the 2nd quarter valued at $245,764,000. Vanguard Group Inc. increased its position in shares of Rocket Lab by 13.4% in the fourth 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 period. Norges Bank acquired a new position in Rocket Lab in the fourth quarter valued at about $341,036,000. Alliancebernstein L.P. lifted its position in Rocket Lab by 818.8% during the third quarter. Alliancebernstein L.P. now owns 2,190,132 shares of the rocket manufacturer’s stock worth $104,929,000 after purchasing an additional 1,951,755 shares during the period. Finally, Capital World Investors lifted its position in Rocket Lab by 12.0% during the fourth 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 period. Institutional investors and hedge funds own 71.78% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on RKLB. Weiss Ratings reissued a “sell (d-)” rating on shares of Rocket Lab in a report on Friday, July 17th. BTIG Research reaffirmed a “hold” rating on shares of Rocket Lab in a report on Tuesday, May 12th. Citigroup reiterated a “market outperform” rating on shares of Rocket Lab in a research report on Tuesday, July 28th. Stifel Nicolaus set a $132.00 price objective on shares of Rocket Lab in a research note on Thursday, June 4th. Finally, Needham & Company LLC restated a “buy” rating on shares of Rocket Lab in a research report on Tuesday, August 11th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $110.65.

Insiders Place Their Bets

In other Rocket Lab news, SVP Arjun Kampani sold 88,000 shares of the business’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $107.98, for a total transaction of $9,502,240.00. Following the sale, the senior vice president owned 264,705 shares of the company’s stock, valued at approximately $28,582,845.90. The trade was a 24.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Frank Klein sold 44,390 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $142.57, for a total transaction of $6,328,682.30. Following the transaction, the insider owned 1,043,847 shares of the company’s stock, valued at $148,821,266.79. This trade represents a 4.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 3,749,294 shares of company stock worth $351,008,208 over the last 90 days. Insiders own 8.40% of the company’s stock.

Rocket Lab Stock Up 2.3%

Shares of NASDAQ RKLB opened at $82.08 on Tuesday. The company has a current ratio of 5.48, a quick ratio of 4.98 and a debt-to-equity ratio of 0.01. The company has a market cap of $49.11 billion, a price-to-earnings ratio of -303.99 and a beta of 2.60. Rocket Lab Corporation has a 12 month low of $37.57 and a 12 month high of $151.00. The stock has a 50-day moving average price of $84.46 and a two-hundred day moving average price of $85.49.

Rocket Lab (NASDAQ:RKLB) last posted its earnings results on Monday, August 10th. The rocket manufacturer reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02). The company had revenue of $234.07 million during the quarter, compared to the consensus estimate of $231.62 million. Rocket Lab had a negative return on equity of 6.48% and a negative net margin of 21.51%. As a group, analysts forecast that Rocket Lab Corporation will post -0.25 earnings per share for the current fiscal year.

Rocket Lab News Summary

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

• Positive Sentiment: Viasat satellite-bus contract: Viasat selected Rocket Lab to build the satellite bus for a maneuverable, anti-jam spacecraft supporting the U.S. Space Force’s Protected Tactical SATCOM-Global program. The win strengthens Rocket Lab’s position in national-security satellite infrastructure and was described by Stifel as another successful contract award. Viasat Selects Rocket Lab to Build GEO Satellite for U.S. Space Force’s Protected Tactical SATCOM-Global Program
• Positive Sentiment: Access to $981 million Space Force program: Rocket Lab was onboarded to the NITE-STAR IDIQ contract, allowing it to compete for task orders involving space-based systems, ground infrastructure, digital training environments and mission operations. The contract expands its government pipeline, although the $981 million figure is a ceiling rather than guaranteed revenue. Rocket Lab Onboarded to U.S. Space Force’s NITE-STAR Program
• Positive Sentiment: Successful Globalstar deployment: Rocket Lab launched and established contact with eight satellite platforms built for MDA Space under a $143 million, 17-satellite contract supporting Globalstar’s direct-to-device and IoT network. The mission demonstrates Rocket Lab’s ability to manufacture, launch and operate satellites as an integrated provider. Rocket Lab Satellite Platforms Successfully Reach Orbit
• Neutral Sentiment: Analyst optimism: Coverage points to more than 35% potential upside, with a median analyst price target of $120. However, these projections are estimates and do not remove execution, valuation or launch risks. 2 ETFs to Capture Rocket Lab Stock’s Upside Potential
• Negative Sentiment: Insider selling remains a risk: Reported insider activity showed 106 open-market sales and no purchases during the past six months, including substantial selling by CEO Peter Beck and other executives. This may weigh on sentiment, particularly after RKLB’s strong advance.

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.