5,668 Shares in Rocket Lab Corporation $RKLB Purchased by Evoke Wealth LLC

Evoke Wealth LLC acquired a new position in shares of Rocket Lab Corporation (NASDAQ:RKLB) during the fourth quarter, HoldingsChannel reports. The fund acquired 5,668 shares of the rocket manufacturer’s stock, valued at approximately $395,000.

Other institutional investors also recently modified their holdings of the company. Aventura Private Wealth LLC acquired a new position in shares of Rocket Lab during the fourth quarter worth approximately $25,000. V Square Quantitative Management LLC bought a new position in Rocket Lab in the 4th quarter worth approximately $32,000. DecisionPoint Financial LLC raised its position in Rocket Lab by 91.1% in the 4th quarter. DecisionPoint Financial LLC now owns 472 shares of the rocket manufacturer’s stock worth $33,000 after purchasing an additional 225 shares during the last quarter. Asset Dedication LLC acquired a new position in Rocket Lab during the 4th quarter worth $33,000. Finally, Eagle Bay Advisors LLC acquired a new position in Rocket Lab during the 4th quarter worth $35,000. 71.78% of the stock is owned by institutional investors.

Insider Buying and Selling at Rocket Lab

In other Rocket Lab news, SVP Arjun Kampani sold 28,761 shares of the stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $69.59, for a total value of $2,001,477.99. Following the sale, the senior vice president directly owned 421,699 shares in the company, valued at approximately $29,346,033.41. This trade represents a 6.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Frank Klein sold 44,482 shares of Rocket Lab stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $69.59, for a total transaction of $3,095,502.38. Following the transaction, the insider directly owned 1,125,005 shares in the company, valued at approximately $78,289,097.95. This represents a 3.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 333,449 shares of company stock worth $28,295,233 over the last ninety days. 8.40% of the stock is owned by corporate insiders.

Rocket Lab Price Performance

Shares of Rocket Lab stock opened at $135.76 on Tuesday. The business has a fifty day simple moving average of $86.19 and a 200 day simple moving average of $73.80. The stock has a market cap of $78.57 billion, a PE ratio of -424.25 and a beta of 2.30. The company has a quick ratio of 4.02, a current ratio of 4.47 and a debt-to-equity ratio of 0.02. Rocket Lab Corporation has a 12 month low of $24.67 and a 12 month high of $139.76.

Rocket Lab (NASDAQ:RKLB) last released 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). The firm had revenue of $200.35 million for the quarter, compared to analyst estimates of $189.65 million. Rocket Lab had a negative return on equity of 11.72% and a negative net margin of 26.87%.The company’s quarterly revenue was up 63.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.12) earnings per share. Research analysts predict that Rocket Lab Corporation will post -0.29 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on RKLB shares. Citizens Jmp lifted their target price on Rocket Lab from $85.00 to $95.00 and gave the company a “market outperform” rating in a research note on Friday, May 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rocket Lab in a report on Tuesday, April 21st. Roth Mkm lifted their price objective on Rocket Lab from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. Needham & Company LLC boosted their price objective on Rocket Lab from $95.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Finally, TD Cowen upped their target price on shares of Rocket Lab from $90.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Three analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Rocket Lab has an average rating of “Moderate Buy” and an average price target of $97.19.

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.