Blue Jean Financial LLC Takes $3.07 Million Position in Rocket Lab Corporation $RKLB

Blue Jean Financial LLC purchased a new stake in shares of Rocket Lab Corporation (NASDAQ:RKLB) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 43,930 shares of the rocket manufacturer’s stock, valued at approximately $3,065,000. Rocket Lab comprises about 2.5% of Blue Jean Financial LLC’s holdings, making the stock its 6th biggest holding.

A number of other institutional investors have also recently made changes to their positions in the stock. 1 North Wealth Services LLC purchased a new stake in shares of Rocket Lab during the 4th quarter valued at about $82,000. Aptus Capital Advisors LLC purchased a new stake in shares of Rocket Lab during the 4th quarter valued at about $242,000. CreativeOne Wealth LLC purchased a new stake in shares of Rocket Lab during the 4th quarter valued at about $331,000. Kestra Advisory Services LLC boosted its holdings in shares of Rocket Lab by 156.0% during the 4th quarter. Kestra Advisory Services LLC now owns 133,438 shares of the rocket manufacturer’s stock valued at $9,309,000 after acquiring an additional 81,313 shares during the last quarter. Finally, Parkside Financial Bank & Trust boosted its holdings in shares of Rocket Lab by 96.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 692 shares of the rocket manufacturer’s stock valued at $48,000 after acquiring an additional 339 shares during the last quarter. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Insider Buying and Selling

In other Rocket Lab news, SVP Arjun Kampani sold 70,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $145.13, for a total transaction of $10,159,100.00. Following the sale, the senior vice president owned 376,509 shares in the company, valued at approximately $54,642,751.17. This trade represents a 15.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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. Also, CFO Adam C. Spice sold 62,744 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $142.57, for a total transaction of $8,945,412.08. Following the sale, the chief financial officer owned 983,049 shares in the company, valued at approximately $140,153,295.93. The trade was a 6.00% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 a total of 485,515 shares of company stock valued at $66,909,882 in the last 90 days. 8.40% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on RKLB shares. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Rocket Lab in a report on Wednesday, May 27th. Craig Hallum raised shares of Rocket Lab from a “hold” rating to a “buy” rating and set a $98.00 price target on the stock in a report on Friday, May 8th. Stifel Nicolaus set a $132.00 price objective on shares of Rocket Lab in a report on Thursday, June 4th. Roth Mkm raised their price objective on shares of Rocket Lab from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, April 17th. Finally, New Street Research began coverage on shares of Rocket Lab in a report on Wednesday, May 13th. They issued a “buy” rating and a $150.00 price objective on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $99.24.

More Rocket Lab News

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

• Positive Sentiment: Rocket Lab announced that it will join the Nasdaq-100 Index, effective June 22. That inclusion is a bullish technical and sentiment driver because it can increase visibility, attract index-tracking funds, and broaden institutional demand. Rocket Lab To Join The Nasdaq-100 Index
• Positive Sentiment: Several reports note that RKLB is benefiting from a “halo trade” in space stocks tied to SpaceX’s historic public debut, with traders rotating into space-related names as the industry gets more attention. Why Rocket Lab (RKLB) Stock Is Up Today
• Positive Sentiment: Rocket Lab’s recent business momentum also supports the stock, with Q1 revenue up 63.4% year over year to $200.35 million and results beating revenue estimates, reinforcing the growth story behind the company. Rocket Lab To Join The Nasdaq-100 Index
• Neutral Sentiment: Commentary from analysts and media has turned more upbeat on the stock, but much of the move appears to be driven by index inclusion and sector momentum rather than a new operating update. Space Stock Rocket Lab and 4 Others Are Joining the Nasdaq 100
• Negative Sentiment: Near-term volatility could stay elevated because the stock has also been caught in broader space-stock swings around SpaceX’s debut, and some traders are treating the group as a relative-value trade rather than a pure Rocket Lab fundamental story. Virgin Galactic Craters 24%, Rocket Lab Drops 8%, AST SpaceMobile Falls 10% as SpaceX Hype Triggers a Space-Stock Shakeout

Rocket Lab Stock Performance

RKLB opened at $102.39 on Friday. The company has a current ratio of 4.47, a quick ratio of 4.02 and a debt-to-equity ratio of 0.02. The company has a market cap of $59.26 billion, a price-to-earnings ratio of -319.97 and a beta of 2.49. The company’s 50 day moving average is $101.62 and its 200 day moving average is $81.03. Rocket Lab Corporation has a 12-month low of $25.24 and a 12-month high of $151.00.

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

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.