SEB Asset Management AB Makes New Investment in Rocket Lab Corporation $RKLB

SEB Asset Management AB purchased a new stake in shares of Rocket Lab Corporation (NASDAQ:RKLB) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 95,609 shares of the rocket manufacturer’s stock, valued at approximately $6,140,000.

Other hedge funds have also bought and sold shares of the company. Aventura Private Wealth LLC acquired a new position in Rocket Lab in the 4th quarter worth about $25,000. Mcguire Capital Advisors Inc. purchased a new stake in shares of Rocket Lab in the fourth quarter valued at approximately $27,000. Zions Bancorporation National Association UT acquired a new position in shares of Rocket Lab during the 4th quarter worth approximately $28,000. EverSource Wealth Advisors LLC lifted its position in shares of Rocket Lab by 109.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 796 shares of the rocket manufacturer’s stock valued at $28,000 after buying an additional 416 shares in the last quarter. Finally, Gordian Capital Singapore Pte Ltd purchased a new position in shares of Rocket Lab during the 4th quarter valued at approximately $29,000. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. New Street Research began coverage on shares of Rocket Lab in a research report on Wednesday, May 13th. They issued a “buy” rating and a $150.00 target price on the stock. Craig Hallum lifted their price target on Rocket Lab from $98.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday, June 29th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Rocket Lab from $73.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Bank of America raised their price target on shares of Rocket Lab from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, June 30th. Finally, TD Cowen increased their price objective on shares of Rocket Lab from $90.00 to $120.00 and gave the company a “buy” rating in a report on Friday, May 8th. Three research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Rocket Lab has an average rating of “Moderate Buy” and a consensus price target of $110.18.

Trending Headlines about Rocket Lab

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

• Positive Sentiment: Rocket Lab won a $266 million defense contract for suborbital launch work, a sizable win that could strengthen revenue visibility and support the stock. Rocket Lab Stock Rises After the Bell: Here’s Why
• Positive Sentiment: Space stocks, including Rocket Lab, rallied as investors rotated back into the sector on a more risk-on trading day. AST SpaceMobile Catapults 12%, SpaceX Rises 7%, Virgin Galactic and Rocket Lab Rally as Space Stock Trade Takes a Risk-on Turn
• Neutral Sentiment: Some investor attention remains focused on Rocket Lab’s Neutron rocket timeline, with commentary suggesting the stock could face longer-term pressure if development slips further. Rocket Lab CEO Peter Beck Says Watch the Test Stands. Here’s Why the Neutron Timeline Means Everything for Investors.
• Negative Sentiment: The stock had been under pressure recently, with recent articles noting a sharp pullback and investor debate over whether the decline is a buying opportunity or a warning sign. Rocket Lab Corporation (RKLB) Declines More Than Market: Some Information for Investors

Insider Buying and Selling at Rocket Lab

In other Rocket Lab news, Director Alexander R. Slusky sold 100,000 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $118.08, for a total value of $11,808,000.00. Following the sale, the director owned 434,675 shares of the company’s stock, valued at $51,326,424. This represents a 18.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Peter Beck sold 1,298,622 shares of the company’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $84.92, for a total value of $110,278,980.24. Following the completion of the sale, the chief executive officer directly owned 2,715,181 shares in the company, valued at approximately $230,573,170.52. The trade was a 32.35% 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. Over the last quarter, insiders sold 3,849,294 shares of company stock valued at $362,816,208. Insiders own 8.40% of the company’s stock.

Rocket Lab Stock Performance

NASDAQ RKLB opened at $69.12 on Wednesday. The company has a market cap of $40.00 billion, a P/E ratio of -216.00 and a beta of 2.54. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.47 and a quick ratio of 4.02. The stock has a 50-day moving average of $105.97 and a two-hundred day moving average of $87.24. Rocket Lab Corporation has a 1-year low of $37.57 and a 1-year high of $151.00.

Rocket Lab (NASDAQ:RKLB) last released its earnings results on Thursday, May 7th. The rocket manufacturer reported ($0.07) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.07). The firm had revenue of $200.35 million during 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%.Rocket Lab’s revenue was up 63.4% compared to the same quarter last year. During the same period last year, the business posted ($0.12) earnings per share. As a group, analysts anticipate that Rocket Lab Corporation will post -0.26 EPS for the current year.

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.