Rocket Lab Corporation (NASDAQ:RKLB – Get Free Report) shares traded up 9.3% on Thursday . The stock traded as high as $115.05 and last traded at $114.78. 24,917,032 shares were traded during trading, an increase of 4% from the average session volume of 23,935,295 shares. The stock had previously closed at $105.05.
Key Stories Impacting Rocket Lab
Here are the key news stories impacting Rocket Lab this week:
- Positive Sentiment: Rocket Lab is being treated as a key beneficiary of the broader SpaceX IPO frenzy, with capital flowing into space stocks as investors look for public alternatives to SpaceX. The Biggest Opportunity From SpaceX’s IPO May Surprise You
- Positive Sentiment: Analysts and market commentary highlight Rocket Lab’s strong revenue growth, low debt, and sizable launch backlog, which support the case that it could attract institutional money seeking space-sector exposure. Virgin Galactic Soars 20%, AST SpaceMobile Rises 7%, Planet Labs Gains 6%, Rocket Lab Advances 5% as Space Stocks Catch a Bid
- Positive Sentiment: Recent coverage also points to Rocket Lab’s Neutron rocket program and its position as a launch competitor to SpaceX as reasons the stock remains a favored space name. What’s Going On With Rocket Lab Stock Thursday?
Analysts Set New Price Targets
RKLB has been the subject of a number of research analyst reports. Roth Mkm upped their price target on shares of Rocket Lab from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, April 17th. Cantor Fitzgerald restated an “overweight” rating on shares of Rocket Lab in a research report on Wednesday, May 27th. KGI Securities began coverage on Rocket Lab in a research note on Thursday. They set a “neutral” rating and a $105.00 price target for the company. Citigroup reiterated an “outperform” rating on shares of Rocket Lab in a research report on Friday, May 8th. Finally, New Street Research began coverage on Rocket Lab in a research note on Wednesday, May 13th. They issued a “buy” rating and a $150.00 price objective on the stock. Three research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $99.24.
Rocket Lab Trading Up 9.3%
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 stock has a market cap of $66.43 billion, a price-to-earnings ratio of -358.69 and a beta of 2.49. The company has a fifty day simple moving average of $99.88 and a 200-day simple moving average of $80.36.
Rocket Lab (NASDAQ:RKLB – Get Free Report) last announced its earnings results on Thursday, May 7th. The rocket manufacturer reported ($0.07) EPS for the quarter, hitting the consensus estimate of ($0.07). The company had revenue of $200.35 million during the quarter, compared to analysts’ expectations of $189.65 million. Rocket Lab had a negative net margin of 26.87% and a negative return on equity of 11.72%. The business’s revenue for the quarter was up 63.4% on a year-over-year basis. During the same period last year, the company posted ($0.12) earnings per share. On average, research analysts forecast that Rocket Lab Corporation will post -0.29 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Rocket Lab news, insider Frank Klein sold 44,390 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $142.57, for a total value of $6,328,682.30. Following the transaction, the insider owned 1,043,847 shares in the company, valued at approximately $148,821,266.79. This represents a 4.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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, insider Marvin Bradford Clevenger sold 15,549 shares of the 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 $2,216,820.93. Following the completion of the sale, the insider owned 477,475 shares of the company’s stock, valued at approximately $68,073,610.75. The trade was a 3.15% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 485,515 shares of company stock worth $66,909,882 over the last ninety days. 8.40% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Rocket Lab
A number of hedge funds have recently modified their holdings of RKLB. Sara Bay Financial boosted its position in Rocket Lab by 0.7% during the fourth quarter. Sara Bay Financial now owns 15,905 shares of the rocket manufacturer’s stock valued at $1,121,000 after purchasing an additional 117 shares during the last quarter. ORG Partners LLC increased its position in Rocket Lab by 9.1% in the 4th quarter. ORG Partners LLC now owns 1,458 shares of the rocket manufacturer’s stock worth $102,000 after purchasing an additional 121 shares during the last quarter. Bartlett & CO. Wealth Management LLC raised its stake in shares of Rocket Lab by 7.1% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 1,869 shares of the rocket manufacturer’s stock worth $120,000 after purchasing an additional 124 shares in the last quarter. Sovereign Financial Group Inc. lifted its holdings in shares of Rocket Lab by 3.9% during the 1st quarter. Sovereign Financial Group Inc. now owns 3,320 shares of the rocket manufacturer’s stock valued at $213,000 after buying an additional 125 shares during the last quarter. Finally, Traynor Capital Management Inc. lifted its holdings in shares of Rocket Lab by 1.9% during the 4th quarter. Traynor Capital Management Inc. now owns 7,191 shares of the rocket manufacturer’s stock valued at $502,000 after buying an additional 133 shares during the last quarter. 71.78% of the stock is owned by institutional investors and hedge funds.
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.
Further Reading
- Five stocks we like better than Rocket Lab
- Microsoft Just Gave Investors 3 Dates They Can’t Afford to Ignore
- NVIDIA’s Outlook Gains Momentum: Stock Price to Follow
- The World Cup Is Coming—These 3 Stocks Could Cash In
- Spotify’s “North Star” Outlook Was Music to Investors Ears
Receive News & Ratings for Rocket Lab Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rocket Lab and related companies with MarketBeat.com's FREE daily email newsletter.
