Capital Impact Advisors LLC Acquires Shares of 306,987 Rocket Lab Corporation $RKLB

Capital Impact Advisors LLC purchased a new stake in Rocket Lab Corporation (NASDAQ:RKLB) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 306,987 shares of the rocket manufacturer’s stock, valued at approximately $14,708,000. Rocket Lab makes up about 3.3% of Capital Impact Advisors LLC’s holdings, making the stock its 12th biggest position.

A number of other large investors have also recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB acquired a new stake in shares of Rocket Lab in the 3rd quarter valued at $25,000. Hara Capital LLC acquired a new stake in shares of Rocket Lab during the 3rd quarter worth about $25,000. UMB Bank n.a. increased its position in shares of Rocket Lab by 352.5% during the 3rd quarter. UMB Bank n.a. now owns 543 shares of the rocket manufacturer’s stock worth $26,000 after purchasing an additional 423 shares in the last quarter. Sound Income Strategies LLC bought a new position in Rocket Lab during the 3rd quarter valued at about $27,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in Rocket Lab by 109.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 796 shares of the rocket manufacturer’s stock valued at $28,000 after purchasing an additional 416 shares during the last quarter. 71.78% of the stock is currently owned by institutional investors.

Rocket Lab Price Performance

Shares of RKLB stock opened at $68.41 on Friday. The firm’s 50 day moving average price is $77.46 and its two-hundred day moving average price is $62.97. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.61 and a current ratio of 4.08. Rocket Lab Corporation has a 52-week low of $14.71 and a 52-week high of $99.58. The stock has a market cap of $36.54 billion, a PE ratio of -184.89 and a beta of 2.20.

Insider Transactions at Rocket Lab

In related news, Director Merline Saintil sold 18,126 shares of the company’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $75.04, for a total value of $1,360,175.04. Following the completion of the sale, the director owned 261,903 shares in the company, valued at $19,653,201.12. This represents a 6.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Frank Klein sold 36,768 shares of the stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $71.95, for a total value of $2,645,457.60. Following the completion of the sale, the insider owned 1,088,237 shares of the company’s stock, valued at $78,298,652.15. This trade represents a 3.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 4,347,428 shares of company stock valued at $280,080,579. Corporate insiders own 11.90% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Wall Street Zen raised Rocket Lab from a “sell” rating to a “hold” rating in a report on Sunday, February 8th. TD Cowen reiterated a “buy” rating on shares of Rocket Lab in a research report on Thursday, January 22nd. Zacks Research lowered Rocket Lab from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 10th. Bank of America increased their target price on Rocket Lab from $60.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. Finally, The Goldman Sachs Group raised their target price on Rocket Lab from $47.00 to $69.00 and gave the company a “neutral” rating in a research note on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Rocket Lab currently has an average rating of “Moderate Buy” and an average price target of $75.92.

Rocket Lab 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.