Cadent Capital Advisors LLC Sells 24,268 Shares of Rocket Lab Corporation $RKLB

Cadent Capital Advisors LLC lessened its holdings in Rocket Lab Corporation (NASDAQ:RKLB) by 88.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,265 shares of the rocket manufacturer’s stock after selling 24,268 shares during the quarter. Cadent Capital Advisors LLC’s holdings in Rocket Lab were worth $228,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in Rocket Lab during the 2nd quarter worth approximately $4,124,970,000. Bank of New York Mellon Corp purchased a new stake in shares of Rocket Lab during the second quarter valued at $245,764,000. Bank of America Corp DE acquired a new position in shares of Rocket Lab in the 2nd quarter valued at $437,280,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Rocket Lab by 14.8% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,737,451 shares of the rocket manufacturer’s stock valued at $278,262,000 after acquiring an additional 352,094 shares during the period. Finally, Amundi lifted its position in Rocket Lab by 22.2% during the 2nd quarter. Amundi now owns 2,180,748 shares of the rocket manufacturer’s stock worth $221,673,000 after acquiring an additional 396,639 shares during the period. Institutional investors and hedge funds own 71.78% of the company’s stock.

Insider Activity at Rocket Lab

In other Rocket Lab news, SVP Arjun Kampani sold 7,754 shares of the stock in a transaction on Monday, August 24th. The shares were sold at an average price of $69.63, for a total transaction of $539,911.02. Following the transaction, the senior vice president directly owned 256,951 shares of the company’s stock, valued at $17,891,498.13. This trade represents a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 Frank Klein sold 45,692 shares of the firm’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $69.63, for a total transaction of $3,181,533.96. Following the completion of the transaction, the insider directly owned 961,295 shares in the company, valued at $66,934,970.85. This represents a 4.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Insiders sold a total of 400,749 shares of company stock valued at $26,964,474 in the last three months. Company insiders own 8.40% of the company’s stock.

Rocket Lab Price Performance

NASDAQ RKLB traded down $0.96 during trading hours on Friday, reaching $67.44. The company’s stock had a trading volume of 7,861,348 shares, compared to its average volume of 22,999,959. The firm has a market capitalization of $40.35 billion, a price-to-earnings ratio of -249.68 and a beta of 2.93. The company’s 50-day moving average is $70.45 and its two-hundred day moving average is $84.44. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.48 and a quick ratio of 4.98. Rocket Lab Corporation has a 1-year low of $37.57 and a 1-year high of $151.00.

Rocket Lab (NASDAQ:RKLB) last posted its quarterly earnings data on Monday, August 10th. The rocket manufacturer reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02). The business had revenue of $234.07 million during the quarter, compared to analysts’ expectations of $231.62 million. Rocket Lab had a negative net margin of 21.51% and a negative return on equity of 6.48%. On average, equities analysts predict that Rocket Lab Corporation will post -0.2 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on RKLB. Roth Capital set a $110.00 price objective on Rocket Lab in a research note on Tuesday, August 11th. Berenberg Bank started coverage on shares of Rocket Lab in a research note on Wednesday, September 2nd. They set a “buy” rating and a $83.00 price objective for the company. Wall Street Zen cut shares of Rocket Lab from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Bank of America lowered their price target on shares of Rocket Lab from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Monday, August 31st. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Rocket Lab in a research note on Monday, September 21st. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Rocket Lab has an average rating of “Moderate Buy” and a consensus price target of $104.71.

Rocket Lab News Summary

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

• Positive Sentiment: Barclays initiated coverage with an “overweight” rating and an $85 price target, implying meaningful upside from recent levels. The firm views aerospace and defense as being in the early stages of a broader industrial transformation. Rocket Lab Stock Eyes Rebound After Bullish Coverage
• Positive Sentiment: Neutron remains the primary long-term catalyst. Investor commentary suggests SpaceX’s growing satellite deployment needs could leave room for another reliable medium-lift provider if Rocket Lab delivers its Neutron rocket successfully. NASA is also considering Neutron alongside Falcon 9 for potential recurring launches supporting its planned lunar infrastructure program, although no award has been announced. Rocket Lab Gets a Fresh Opening in NASA’s Moon Push
• Positive Sentiment: The Iridium transaction could substantially expand Rocket Lab’s earnings base. The deal is reportedly fully funded without drawing on a $3.6 billion bridge loan and could add roughly $500 million in annual EBITDA before Neutron contributes. Rocket Lab: Iridium Could Explode EBITDA
• Neutral Sentiment: Rocket Lab is more than 50% below its 52-week high, prompting some analysts to argue that the stock could potentially double. However, that outlook depends heavily on successful Neutron development and execution. Wall Street Pro Predicts Rocket Lab Could Double
• Negative Sentiment: Investors remain concerned about dilution and profitability. The Iridium deal may involve up to 72 million new shares, while Rocket Lab has recently missed earnings expectations and remains unprofitable.
• Negative Sentiment: Competition and sentiment are unfavorable. Jim Cramer recently favored SpaceX over Rocket Lab, and a broader selloff in space stocks has pressured RKLB. The company also faces substantial execution risk because Neutron has not yet flown. Jim Cramer Draws a Line Between Rocket Lab and SpaceX

About Rocket Lab

Rocket Lab USA, Inc is a space and launch company that provides launch services, spacecraft, satellite components and other space systems for commercial, civil and national-security customers. The company designs and manufactures many of its products in-house, supporting missions from initial spacecraft development through launch and on-orbit operations.

Rocket Lab’s primary launch vehicle is Electron, a small-lift rocket designed to place satellites into low Earth orbit. The company also operates the HASTE suborbital test platform for hypersonic and other advanced aerospace technologies and is developing Neutron, a larger reusable rocket intended to serve commercial and government missions.