IFM Investors Pty Ltd Grows Holdings in Rocket Lab Corporation $RKLB

IFM Investors Pty Ltd boosted its position in Rocket Lab Corporation (NASDAQ:RKLB) by 17.1% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 97,389 shares of the rocket manufacturer’s stock after acquiring an additional 14,201 shares during the quarter. IFM Investors Pty Ltd’s holdings in Rocket Lab were worth $6,254,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its position in shares of Rocket Lab by 114.0% in the 1st quarter. AQR Capital Management LLC now owns 174,308 shares of the rocket manufacturer’s stock valued at $3,117,000 after purchasing an additional 92,849 shares in the last quarter. NewEdge Advisors LLC grew its position in shares of Rocket Lab by 1,812.1% during the first quarter. NewEdge Advisors LLC now owns 36,807 shares of the rocket manufacturer’s stock worth $658,000 after buying an additional 34,882 shares in the last quarter. Jones Financial Companies Lllp increased its stake in shares of Rocket Lab by 53.8% in the first quarter. Jones Financial Companies Lllp now owns 15,745 shares of the rocket manufacturer’s stock worth $282,000 after buying an additional 5,507 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Rocket Lab by 13.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 773,548 shares of the rocket manufacturer’s stock worth $13,831,000 after buying an additional 90,758 shares during the last quarter. Finally, Focus Partners Wealth raised its holdings in Rocket Lab by 1.0% in the first quarter. Focus Partners Wealth now owns 67,584 shares of the rocket manufacturer’s stock valued at $1,206,000 after acquiring an additional 681 shares in the last quarter. 71.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RKLB has been the subject of several recent analyst reports. Citizens Jmp raised their price objective on shares of Rocket Lab from $95.00 to $130.00 and gave the stock a “market outperform” rating in a report on Tuesday. KeyCorp upgraded shares of Rocket Lab from a “sector weight” rating to an “overweight” rating and set a $135.00 target price on the stock in a research note on Monday, June 15th. Wells Fargo & Company assumed coverage on shares of Rocket Lab in a research report on Wednesday, April 1st. They set an “equal weight” rating and a $60.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $120.00 price target on shares of Rocket Lab in a research note on Tuesday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Rocket Lab in a research note on Tuesday, April 21st. Three investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, five have given a Hold rating and one has assigned 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 $108.24.

Rocket Lab News Summary

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

• Positive Sentiment: The $8 billion Iridium acquisition is being seen as a transformative deal that could expand Rocket Lab into satellite communications, add recurring revenue, and support a more durable long-term business model. Rocket Lab’s CEO Just Bet $8 Billion on Taking Down SpaceX. Here’s the ‘1+1=3’ Logic
• Positive Sentiment: Investor enthusiasm has also been supported by Rocket Lab’s recent operating momentum, including strong revenue growth, a record backlog, and the view that the company is increasingly positioned as a full-stack space operator. Rocket Lab Surges on Big SpaceX Rivalry Bet and Strong Stock Momentum
• Neutral Sentiment: Several articles argue that the market is now re-rating RKLB quickly, with some commentators saying much of the near-term upside may already be priced in after the sharp run-up. Rocket Lab Stock up 24% in a Week — Here’s What Happened
• Neutral Sentiment: Analysts and writers remain focused on Rocket Lab’s long-term growth story, but some note the stock has already made a big move and may need execution on the Iridium deal to justify further gains. Rocket Lab Just Made an $8 Billion Bet to Rival SpaceX. Is the Stock a Buy?
• Negative Sentiment: Rocket Lab also faces execution and integration risk from the large acquisition, and one update noted a recent launch stand-down, reminding investors that the business still depends on reliable operational performance. RKLB Stock Slips Overnight: Rocket Lab Stands Down From 92nd Satellite Launch For Japan’s QPS

Insider Buying and Selling at Rocket Lab

In other Rocket Lab news, insider Marvin Bradford Clevenger sold 3,500 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $146.67, for a total value of $513,345.00. Following the sale, the insider directly owned 473,975 shares of the company’s stock, valued at $69,517,913.25. This trade represents a 0.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Alexander R. Slusky sold 40,000 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $123.60, for a total value of $4,944,000.00. Following the completion of the sale, the director owned 334,675 shares in the company, valued at $41,365,830. The trade was a 10.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 573,515 shares of company stock worth $76,412,122. Corporate insiders own 8.40% of the company’s stock.

Rocket Lab Trading Up 0.4%

Rocket Lab stock opened at $100.46 on Friday. The firm’s 50-day moving average is $108.60 and its 200-day moving average is $86.24. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.02 and a current ratio of 4.47. Rocket Lab Corporation has a 1 year low of $35.25 and a 1 year high of $151.00. The company has a market cap of $58.14 billion, a P/E ratio of -313.94 and a beta of 2.54.

Rocket Lab (NASDAQ:RKLB) last announced its quarterly earnings data on Thursday, May 7th. The rocket manufacturer reported ($0.07) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.07). The business had revenue of $200.35 million during 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 company’s revenue for the quarter was up 63.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.12) EPS. On average, equities analysts expect that Rocket Lab Corporation will post -0.29 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.