UniSuper Management Pty Ltd Makes New $355,000 Investment in Rocket Lab Corporation $RKLB

UniSuper Management Pty Ltd purchased a new stake in shares of Rocket Lab Corporation (NASDAQ:RKLB) in the third quarter, HoldingsChannel reports. The institutional investor purchased 7,400 shares of the rocket manufacturer’s stock, valued at approximately $355,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cadent Capital Advisors LLC bought a new stake in shares of Rocket Lab in the 3rd quarter worth approximately $668,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Rocket Lab by 44.7% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 992,777 shares of the rocket manufacturer’s stock valued at $35,512,000 after buying an additional 306,713 shares in the last quarter. Orion Porfolio Solutions LLC bought a new position in shares of Rocket Lab in the second quarter valued at $1,009,000. McGuire Investment Group LLC lifted its position in shares of Rocket Lab by 91.3% during the 2nd quarter. McGuire Investment Group LLC now owns 196,107 shares of the rocket manufacturer’s stock valued at $7,015,000 after acquiring an additional 93,613 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Rocket Lab during the 2nd quarter worth $164,751,000. Institutional investors own 71.78% of the company’s stock.

Insider Buying and Selling at Rocket Lab

In other news, Director Edward H. Frank sold 2,500 shares of the stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $77.39, for a total value of $193,475.00. Following the completion of the transaction, the director directly owned 142,504 shares of the company’s stock, valued at approximately $11,028,384.56. This represents a 1.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Merline Saintil sold 12,500 shares of Rocket Lab stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $90.00, for a total transaction of $1,125,000.00. Following the transaction, the director directly owned 280,029 shares of the company’s stock, valued at $25,202,610. This represents a 4.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 4,306,150 shares of company stock valued at $271,865,732 over the last quarter. Company insiders own 11.90% of the company’s stock.

Rocket Lab Trading Up 8.1%

Rocket Lab stock opened at $87.00 on Wednesday. Rocket Lab Corporation has a one year low of $14.71 and a one year high of $99.58. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.18 and a quick ratio of 2.83. The company’s fifty day moving average price is $67.29 and its two-hundred day moving average price is $56.83. The company has a market capitalization of $46.47 billion, a price-to-earnings ratio of -228.95 and a beta of 2.16.

Rocket Lab (NASDAQ:RKLB) last issued its quarterly earnings data on Monday, November 10th. The rocket manufacturer reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. The business had revenue of $155.08 million during the quarter, compared to analysts’ expectations of $152.45 million. Rocket Lab had a negative net margin of 35.64% and a negative return on equity of 27.26%. Rocket Lab’s revenue for the quarter was up 48.0% on a year-over-year basis. During the same period in the previous year, the company earned ($0.10) earnings per share. On average, analysts forecast that Rocket Lab Corporation will post -0.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Rocket Lab in a research report on Wednesday, December 3rd. Stifel Nicolaus upped their price objective on shares of Rocket Lab from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, December 22nd. Morgan Stanley upgraded shares of Rocket Lab from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $67.00 to $105.00 in a report on Friday, January 16th. Bank of America lifted their target price on shares of Rocket Lab from $60.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. Finally, Roth Mkm restated a “buy” rating and issued a $75.00 price target on shares of Rocket Lab in a research report on Tuesday, November 11th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $72.92.

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.