Rocket Lab Corporation $RKLB Shares Sold by Sanders Morris Harris LLC

Sanders Morris Harris LLC decreased its holdings in shares of Rocket Lab Corporation (NASDAQ:RKLB) by 15.3% in the 2nd quarter, Holdings Channel reports. The firm owned 43,940 shares of the rocket manufacturer’s stock after selling 7,931 shares during the quarter. Rocket Lab comprises about 2.6% of Sanders Morris Harris LLC’s investment portfolio, making the stock its 10th biggest holding. Sanders Morris Harris LLC’s holdings in Rocket Lab were worth $4,467,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Balefire LLC bought a new position in shares of Rocket Lab in the 2nd quarter worth about $283,000. GAMMA Investing LLC grew its position in shares of Rocket Lab by 30.5% during the 2nd quarter. GAMMA Investing LLC now owns 5,272 shares of the rocket manufacturer’s stock valued at $536,000 after buying an additional 1,233 shares during the last quarter. Grant Private Wealth Management Inc acquired a new stake in Rocket Lab during the second quarter worth about $236,000. Harbor Investment Advisory LLC acquired a new stake in Rocket Lab during the second quarter worth about $66,000. Finally, Grove Bank & Trust lifted its holdings in Rocket Lab by 291.5% in the second quarter. Grove Bank & Trust now owns 873 shares of the rocket manufacturer’s stock worth $89,000 after acquiring an additional 650 shares during the last quarter. 71.78% of the stock is owned by institutional investors and hedge funds.

More Rocket Lab News

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

• Positive Sentiment: $397 million Space Force contract: Rocket Lab will develop, launch and operate multiple “Flatellite” spacecraft for the Space-Based Airborne Moving Target Indicator program. The award expands the company’s defense and space-systems backlog, supports its vertically integrated business model, and includes an option for additional satellites. The mission is expected to use Rocket Lab’s Neutron medium-lift rocket, potentially providing an important customer and validation milestone for the vehicle. Rocket Lab Space Force contract
• Positive Sentiment: Greater defense exposure: The contract reinforces Rocket Lab’s role in military space applications, including satellite manufacturing, launch services and mission operations. Investors view the deal as evidence that the company can compete for larger, higher-value government programs. Rocket Lab wins Space Force contract
• Positive Sentiment: Analyst support and growth narrative: Recent analyst targets reportedly have a median of $120, well above recent trading levels, while Rocket Lab’s first-quarter revenue rose 63.4% year over year to approximately $200.3 million. Commentary has also highlighted RKLB as an attractive long-term innovation and space stock. Analyst views on Rocket Lab
• Neutral Sentiment: Earnings ahead: Rocket Lab is scheduled to report second-quarter results on August 10. Investors will focus on revenue growth, cash usage, backlog conversion and updates on Neutron development after the recent rally. Rocket Lab earnings preview
• Negative Sentiment: Execution, dilution and valuation risks: Commentary has raised concerns about funding potential acquisitions, shareholder dilution and the timing of Neutron’s development. Rocket Lab remains unprofitable, and its elevated valuation leaves the stock sensitive to missed milestones or weaker-than-expected earnings.
• Negative Sentiment: Insider selling: Reported insider activity shows substantial open-market sales and no purchases over the past six months, including sales attributed to senior executives. This may weigh on sentiment despite the new contract.

Analyst Ratings Changes

A number of brokerages have commented on RKLB. TD Cowen lifted their target price on Rocket Lab from $90.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Deutsche Bank Aktiengesellschaft increased 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. Stifel Nicolaus set a $132.00 price objective on Rocket Lab in a research report on Thursday, June 4th. Morgan Stanley restated an “overweight” rating on shares of Rocket Lab in a research report on Wednesday, July 8th. Finally, KeyCorp upgraded Rocket Lab from a “sector weight” rating to an “overweight” rating and set a $135.00 price objective for the company in a research note on Monday, June 15th. Three analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.29.

Insider Buying and Selling

In related news, insider Frank Klein sold 44,390 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider owned 1,043,847 shares of the company’s stock, valued at $148,821,266.79. This represents a 4.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, 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, CFO Adam C. Spice sold 62,744 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $142.57, for a total transaction of $8,945,412.08. Following the completion of the sale, the chief financial officer directly owned 983,049 shares of the company’s stock, valued at $140,153,295.93. The trade was a 6.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. In the last 90 days, insiders have sold 3,849,294 shares of company stock valued at $362,816,208. Company insiders own 8.40% of the company’s stock.

Rocket Lab Stock Performance

Shares of RKLB stock opened at $74.82 on Thursday. Rocket Lab Corporation has a 12-month low of $37.57 and a 12-month high of $151.00. 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 firm has a market capitalization of $43.30 billion, a price-to-earnings ratio of -233.81 and a beta of 2.60. The business has a 50 day simple moving average of $91.53 and a 200 day simple moving average of $85.99.

Rocket Lab (NASDAQ:RKLB) last announced its earnings results on Thursday, May 7th. The rocket manufacturer reported ($0.07) earnings per share for the quarter, meeting the consensus estimate of ($0.07). Rocket Lab had a negative return on equity of 11.72% and a negative net margin of 26.87%.The firm had revenue of $200.35 million for the quarter, compared to the consensus estimate of $189.65 million. During the same quarter in the previous year, the business earned ($0.12) EPS. The firm’s revenue for the quarter was up 63.4% on a year-over-year basis. On average, equities research analysts anticipate that Rocket Lab Corporation will post -0.26 EPS for the current year.

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.