Churchill Financial Advisors LLC Takes Position in Rocket Lab Corporation $RKLB

Churchill Financial Advisors LLC bought a new stake in shares of Rocket Lab Corporation (NASDAQ:RKLB) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 4,332 shares of the rocket manufacturer’s stock, valued at approximately $302,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RKLB. Arizona State Retirement System lifted its position in Rocket Lab by 13.6% in the third quarter. Arizona State Retirement System now owns 127,794 shares of the rocket manufacturer’s stock worth $6,123,000 after buying an additional 15,307 shares during the last quarter. Firsthand Capital Management Inc. lifted its position in Rocket Lab by 40.0% in the third quarter. Firsthand Capital Management Inc. now owns 70,000 shares of the rocket manufacturer’s stock worth $3,354,000 after buying an additional 20,000 shares during the last quarter. Swiss National Bank lifted its position in Rocket Lab by 67.7% in the third quarter. Swiss National Bank now owns 1,243,630 shares of the rocket manufacturer’s stock worth $59,582,000 after buying an additional 501,830 shares during the last quarter. Vanguard Group Inc. lifted its position in 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 buying an additional 5,610,469 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D lifted its position in Rocket Lab by 14.4% in the third quarter. State of New Jersey Common Pension Fund D now owns 153,106 shares of the rocket manufacturer’s stock worth $7,335,000 after buying an additional 19,304 shares during the last quarter. 71.78% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on RKLB. Roth Mkm raised their price target on Rocket Lab from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. Needham & Company LLC raised their price target on Rocket Lab from $95.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Deutsche Bank Aktiengesellschaft raised their price target on Rocket Lab from $73.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Cantor Fitzgerald restated an “overweight” rating and issued a $85.00 price target on shares of Rocket Lab in a research report on Friday, March 13th. Finally, Clear Str upgraded Rocket Lab to a “strong-buy” rating in a research report on Wednesday, March 18th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $97.19.

Rocket Lab Stock Performance

RKLB stock opened at $135.76 on Monday. The company has a quick ratio of 4.02, a current ratio of 4.47 and a debt-to-equity ratio of 0.02. The business’s fifty day simple moving average is $84.84 and its two-hundred day simple moving average is $73.24. Rocket Lab Corporation has a twelve month low of $24.67 and a twelve month high of $139.76. The firm has a market cap of $78.57 billion, a price-to-earnings ratio of -424.25 and a beta of 2.30.

Rocket Lab (NASDAQ:RKLB) last released its earnings results on Thursday, May 7th. The rocket manufacturer reported ($0.07) earnings per share 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 business had revenue of $200.35 million for 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 business’s revenue was up 63.4% compared to the same quarter last year. Analysts predict that Rocket Lab Corporation will post -0.29 earnings per share for the current year.

Insiders Place Their Bets

In other Rocket Lab news, Director Merline Saintil sold 18,126 shares of the stock in a transaction on Friday, March 6th. The stock was sold at an average price of $75.04, for a total value of $1,360,175.04. Following the sale, the director owned 261,903 shares in the company, valued at $19,653,201.12. This trade represents a 6.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Peter Beck sold 18,857 shares of the firm’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $69.59, for a total value of $1,312,258.63. Following the transaction, the chief executive officer owned 884,085 shares in the company, valued at approximately $61,523,475.15. This represents a 2.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 333,449 shares of company stock valued at $28,295,233. Insiders own 8.40% of the company’s stock.

Key Rocket Lab News

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

• Positive Sentiment: Rocket Lab won a $90 million Space Force contract, which expands its satellite business into geostationary orbit and adds a meaningful new source of revenue. Article Title
• Positive Sentiment: The company completed its 9th Electron launch for Synspective, underscoring strong execution and a durable commercial launch partnership. Article Title
• Neutral Sentiment: Broader space-stock momentum and renewed interest ahead of SpaceX’s IPO are also lifting sentiment across the sector, including RKLB. Article Title
• Negative Sentiment: Some investors remain wary after Rocket Lab’s recent announcement of a potential $3 billion share-sale program, which raised dilution concerns earlier in the week. Article Title

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.