SEB Asset Management AB Purchases New Position in Rocket Lab Corporation $RKLB

SEB Asset Management AB purchased a new stake in Rocket Lab Corporation (NASDAQ:RKLB) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 95,609 shares of the rocket manufacturer’s stock, valued at approximately $6,140,000.

A number of other large investors also recently modified their holdings of the business. Sara Bay Financial boosted its position in shares of Rocket Lab by 0.7% during the fourth quarter. Sara Bay Financial now owns 15,905 shares of the rocket manufacturer’s stock worth $1,121,000 after buying an additional 117 shares during the period. ORG Partners LLC lifted its position in shares of Rocket Lab by 9.1% during the 4th quarter. ORG Partners LLC now owns 1,458 shares of the rocket manufacturer’s stock valued at $102,000 after acquiring an additional 121 shares during the last quarter. Bartlett & CO. Wealth Management LLC boosted its position in shares of Rocket Lab by 7.1% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 1,869 shares of the rocket manufacturer’s stock valued at $120,000 after purchasing an additional 124 shares during the period. Sovereign Financial Group Inc. raised its holdings in shares of Rocket Lab by 3.9% during the first quarter. Sovereign Financial Group Inc. now owns 3,320 shares of the rocket manufacturer’s stock valued at $213,000 after acquiring an additional 125 shares during the period. Finally, Traynor Capital Management Inc. grew its position in Rocket Lab by 1.9% during the 4th quarter. Traynor Capital Management Inc. now owns 7,191 shares of the rocket manufacturer’s stock worth $502,000 after purchasing an additional 133 shares in the last quarter. 71.78% of the stock is currently owned by institutional investors.

Key Headlines Impacting Rocket Lab

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

• Positive Sentiment: Rocket Lab won a $266 million defense contract for suborbital launch work, a sizable win that could strengthen revenue visibility and support the stock. Rocket Lab Stock Rises After the Bell: Here’s Why
• Positive Sentiment: Space stocks, including Rocket Lab, rallied as investors rotated back into the sector on a more risk-on trading day. AST SpaceMobile Catapults 12%, SpaceX Rises 7%, Virgin Galactic and Rocket Lab Rally as Space Stock Trade Takes a Risk-on Turn
• Neutral Sentiment: Some investor attention remains focused on Rocket Lab’s Neutron rocket timeline, with commentary suggesting the stock could face longer-term pressure if development slips further. Rocket Lab CEO Peter Beck Says Watch the Test Stands. Here’s Why the Neutron Timeline Means Everything for Investors.
• Negative Sentiment: The stock had been under pressure recently, with recent articles noting a sharp pullback and investor debate over whether the decline is a buying opportunity or a warning sign. Rocket Lab Corporation (RKLB) Declines More Than Market: Some Information for Investors

Rocket Lab Stock Up 5.1%

Shares of NASDAQ:RKLB opened at $69.12 on Wednesday. Rocket Lab Corporation has a one year low of $37.57 and a one year high of $151.00. The company has a 50 day moving average of $105.97 and a 200-day moving average of $87.24. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.47 and a quick ratio of 4.02. The stock has a market cap of $40.00 billion, a price-to-earnings ratio of -216.00 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 (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.07). The firm had revenue of $200.35 million for 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 firm earned ($0.12) earnings per share. On average, sell-side analysts forecast that Rocket Lab Corporation will post -0.26 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on RKLB shares. Stifel Nicolaus set a $132.00 price target on shares of Rocket Lab in a research note on Thursday, June 4th. Citigroup restated an “outperform” rating on shares of Rocket Lab in a research note on Tuesday, June 30th. KeyCorp upgraded Rocket Lab from a “sector weight” rating to an “overweight” rating and set a $135.00 target price for the company in a research note on Monday, June 15th. BTIG Research reissued a “hold” rating on shares of Rocket Lab in a research report on Tuesday, May 12th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $96.00 target price on shares of Rocket Lab in a research report on Tuesday, June 30th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $110.18.

Insiders Place Their Bets

In related news, insider Frank Klein sold 36,860 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $147.42, for a total value of $5,433,901.20. Following the sale, the insider directly owned 1,006,987 shares in the company, valued at $148,450,023.54. This trade represents a 3.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Alexander R. Slusky sold 40,000 shares of Rocket Lab stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $123.60, for a total transaction of $4,944,000.00. Following the transaction, the director directly owned 334,675 shares in the company, valued at $41,365,830. The trade was a 10.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 3,849,294 shares of company stock valued at $362,816,208 in the last ninety days. 8.40% of the stock is currently owned by insiders.

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.