Xponance Inc. Buys 32,913 Shares of Rocket Lab Corporation $RKLB

Xponance Inc. lifted its stake in Rocket Lab Corporation (NASDAQ:RKLB) by 59.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 88,298 shares of the rocket manufacturer’s stock after buying an additional 32,913 shares during the quarter. Xponance Inc.’s holdings in Rocket Lab were worth $4,230,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in RKLB. Baillie Gifford & Co. raised its stake in Rocket Lab by 176.1% during the 3rd quarter. Baillie Gifford & Co. now owns 12,125,910 shares of the rocket manufacturer’s stock worth $580,952,000 after acquiring an additional 7,734,788 shares during the period. Norges Bank purchased a new stake in shares of Rocket Lab in the second quarter worth $164,751,000. Invesco Ltd. raised its position in shares of Rocket Lab by 67.0% during the 2nd quarter. Invesco Ltd. now owns 6,242,304 shares of the rocket manufacturer’s stock valued at $223,287,000 after purchasing an additional 2,504,054 shares during the period. Vanguard Group Inc. lifted its stake in shares of Rocket Lab by 5.4% during the 3rd quarter. Vanguard Group Inc. now owns 41,809,723 shares of the rocket manufacturer’s stock valued at $2,003,104,000 after buying an additional 2,127,565 shares in the last quarter. Finally, Marex Group plc bought a new position in Rocket Lab in the 2nd quarter worth $74,359,000. 71.78% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Bank of America raised their price target on Rocket Lab from $60.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. Citizens Jmp reissued a “market perform” rating on shares of Rocket Lab in a research note on Friday. TD Cowen reissued a “buy” rating on shares of Rocket Lab in a report on Thursday, January 22nd. Zacks Research lowered shares of Rocket Lab from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 10th. Finally, Needham & Company LLC reduced their price objective on shares of Rocket Lab from $110.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $75.92.

Insider Transactions at Rocket Lab

In related news, Director Merline Saintil sold 96,000 shares of the business’s stock in a transaction on Tuesday, January 13th. The shares were sold at an average price of $86.58, for a total value of $8,311,680.00. Following the sale, the director owned 292,529 shares in the company, valued at approximately $25,327,160.82. The trade was a 24.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Frank Klein sold 100,000 shares of the company’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $72.95, for a total transaction of $7,295,000.00. Following the sale, the insider directly owned 1,169,487 shares in the company, valued at approximately $85,314,076.65. The trade was a 7.88% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 4,138,979 shares of company stock valued at $265,048,346 in the last 90 days. Company insiders own 11.90% of the company’s stock.

Rocket Lab Stock Performance

NASDAQ RKLB opened at $69.10 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.18 and a quick ratio of 2.83. Rocket Lab Corporation has a 1-year low of $14.71 and a 1-year high of $99.58. The business has a 50 day simple moving average of $78.11 and a two-hundred day simple moving average of $61.25. The stock has a market capitalization of $36.91 billion, a PE ratio of -186.75 and a beta of 2.20.

Rocket Lab 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.