Global Retirement Partners LLC Acquires Shares of 11,682 Rocket Lab Corporation $RKLB

Global Retirement Partners LLC purchased a new position in Rocket Lab Corporation (NASDAQ:RKLB) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,682 shares of the rocket manufacturer’s stock, valued at approximately $1,187,000.

Other institutional investors also recently added to or reduced their stakes in the company. Mcguire Capital Advisors Inc. purchased a new position in shares of Rocket Lab during the fourth quarter valued at $27,000. Zions Bancorporation National Association UT purchased a new stake in Rocket Lab in the fourth quarter worth about $28,000. EverSource Wealth Advisors LLC grew 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 worth $28,000 after acquiring an additional 416 shares in the last quarter. Gordian Capital Singapore Pte Ltd bought a new position in Rocket Lab during the 4th quarter worth about $29,000. Finally, Reflection Asset Management purchased a new position in Rocket Lab during the 4th quarter valued at about $30,000. Hedge funds and other institutional investors own 71.78% of the company’s stock.

More Rocket Lab News

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

• Positive Sentiment: Viasat satellite-bus contract: Viasat selected Rocket Lab to build the satellite bus for a maneuverable, anti-jam spacecraft supporting the U.S. Space Force’s Protected Tactical SATCOM-Global program. The win strengthens Rocket Lab’s position in national-security satellite infrastructure and was described by Stifel as another successful contract award. Viasat Selects Rocket Lab to Build GEO Satellite for U.S. Space Force’s Protected Tactical SATCOM-Global Program
• Positive Sentiment: Access to $981 million Space Force program: Rocket Lab was onboarded to the NITE-STAR IDIQ contract, allowing it to compete for task orders involving space-based systems, ground infrastructure, digital training environments and mission operations. The contract expands its government pipeline, although the $981 million figure is a ceiling rather than guaranteed revenue. Rocket Lab Onboarded to U.S. Space Force’s NITE-STAR Program
• Positive Sentiment: Successful Globalstar deployment: Rocket Lab launched and established contact with eight satellite platforms built for MDA Space under a $143 million, 17-satellite contract supporting Globalstar’s direct-to-device and IoT network. The mission demonstrates Rocket Lab’s ability to manufacture, launch and operate satellites as an integrated provider. Rocket Lab Satellite Platforms Successfully Reach Orbit
• Neutral Sentiment: Analyst optimism: Coverage points to more than 35% potential upside, with a median analyst price target of $120. However, these projections are estimates and do not remove execution, valuation or launch risks. 2 ETFs to Capture Rocket Lab Stock’s Upside Potential
• Negative Sentiment: Insider selling remains a risk: Reported insider activity showed 106 open-market sales and no purchases during the past six months, including substantial selling by CEO Peter Beck and other executives. This may weigh on sentiment, particularly after RKLB’s strong advance.

Insider Activity

In other news, SVP Arjun Kampani sold 88,000 shares of the company’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $107.98, for a total transaction of $9,502,240.00. Following the completion of the sale, the senior vice president owned 264,705 shares of the company’s stock, valued at $28,582,845.90. This represents a 24.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Peter Beck sold 990,960 shares of the stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $82.86, for a total value of $82,110,945.60. Following the completion of the sale, the chief executive officer directly owned 1,724,221 shares of the company’s stock, valued at approximately $142,868,952.06. This represents a 36.50% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 3,749,294 shares of company stock valued at $351,008,208 in the last three months. Company insiders own 8.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on RKLB. KeyCorp reissued an “overweight” rating on shares of Rocket Lab in a research note on Tuesday, August 11th. Piper Sandler initiated coverage on Rocket Lab in a research report on Wednesday, July 15th. They issued a “neutral” rating and a $83.00 price target for the company. Citizens Jmp restated a “market outperform” rating and set a $130.00 price objective on shares of Rocket Lab in a research note on Tuesday, August 11th. Stifel Nicolaus set a $132.00 price objective on Rocket Lab in a research report on Thursday, June 4th. Finally, Cantor Fitzgerald lifted their target price on Rocket Lab from $96.00 to $122.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. Three equities research 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 issued a Sell rating to the company’s stock. According to MarketBeat.com, Rocket Lab presently has an average rating of “Moderate Buy” and an average target price of $110.65.

Rocket Lab Stock Performance

Shares of RKLB stock opened at $82.08 on Tuesday. The stock has a market cap of $49.11 billion, a PE ratio of -303.99 and a beta of 2.60. The business has a 50-day simple moving average of $84.46 and a 200-day simple moving average of $85.49. The company has a quick ratio of 4.98, a current ratio of 5.48 and a debt-to-equity ratio of 0.01. Rocket Lab Corporation has a 52-week low of $37.57 and a 52-week high of $151.00.

Rocket Lab (NASDAQ:RKLB) last posted its earnings results on Monday, August 10th. The rocket manufacturer reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.02). Rocket Lab had a negative net margin of 21.51% and a negative return on equity of 6.48%. The firm had revenue of $234.07 million during the quarter, compared to analyst estimates of $231.62 million. On average, equities analysts expect that Rocket Lab Corporation will post -0.25 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.