Sanders Morris Harris LLC Sells 7,931 Shares of Rocket Lab Corporation $RKLB

Sanders Morris Harris LLC trimmed its stake in Rocket Lab Corporation (NASDAQ:RKLB) by 15.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 43,940 shares of the rocket manufacturer’s stock after selling 7,931 shares during the quarter. Rocket Lab comprises 2.6% of Sanders Morris Harris LLC’s portfolio, making the stock its 10th largest position. Sanders Morris Harris LLC’s holdings in Rocket Lab were worth $4,467,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. AQR Capital Management LLC grew its stake in shares of Rocket Lab by 114.0% during the 1st quarter. AQR Capital Management LLC now owns 174,308 shares of the rocket manufacturer’s stock valued at $3,117,000 after buying an additional 92,849 shares during the period. NewEdge Advisors LLC boosted its holdings in Rocket Lab by 1,812.1% in the first quarter. NewEdge Advisors LLC now owns 36,807 shares of the rocket manufacturer’s stock valued at $658,000 after acquiring an additional 34,882 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in Rocket Lab by 53.8% in the first quarter. Jones Financial Companies Lllp now owns 15,745 shares of the rocket manufacturer’s stock valued at $282,000 after acquiring an additional 5,507 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Rocket Lab by 13.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 773,548 shares of the rocket manufacturer’s stock valued at $13,831,000 after acquiring an additional 90,758 shares during the period. Finally, Focus Partners Wealth grew its position in Rocket Lab by 1.0% during the first quarter. Focus Partners Wealth now owns 67,584 shares of the rocket manufacturer’s stock valued at $1,206,000 after acquiring an additional 681 shares during the period. Institutional investors and hedge funds own 71.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on RKLB shares. Morgan Stanley restated an “overweight” rating on shares of Rocket Lab in a report on Wednesday, July 8th. Citigroup reiterated a “market outperform” rating on shares of Rocket Lab in a report on Tuesday, July 28th. BTIG Research restated a “hold” rating on shares of Rocket Lab in a report on Tuesday, May 12th. New Street Research initiated coverage on shares of Rocket Lab in a research report on Wednesday, May 13th. They set a “buy” rating and a $150.00 price target on the stock. Finally, Piper Sandler started coverage on shares of Rocket Lab in a research note on Wednesday, July 15th. They set a “neutral” rating and a $83.00 price objective for the company. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Rocket Lab has an average rating of “Moderate Buy” and an average price target of $110.29.

Rocket Lab News Roundup

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

• Positive Sentiment: $397 million Space Force contract: Rocket Lab will develop, launch and operate multiple “Flatellite” spacecraft for the Space-Based Airborne Moving Target Indicator program. The award expands the company’s defense and space-systems backlog, supports its vertically integrated business model, and includes an option for additional satellites. The mission is expected to use Rocket Lab’s Neutron medium-lift rocket, potentially providing an important customer and validation milestone for the vehicle. Rocket Lab Space Force contract
• Positive Sentiment: Greater defense exposure: The contract reinforces Rocket Lab’s role in military space applications, including satellite manufacturing, launch services and mission operations. Investors view the deal as evidence that the company can compete for larger, higher-value government programs. Rocket Lab wins Space Force contract
• Positive Sentiment: Analyst support and growth narrative: Recent analyst targets reportedly have a median of $120, well above recent trading levels, while Rocket Lab’s first-quarter revenue rose 63.4% year over year to approximately $200.3 million. Commentary has also highlighted RKLB as an attractive long-term innovation and space stock. Analyst views on Rocket Lab
• Neutral Sentiment: Earnings ahead: Rocket Lab is scheduled to report second-quarter results on August 10. Investors will focus on revenue growth, cash usage, backlog conversion and updates on Neutron development after the recent rally. Rocket Lab earnings preview
• Negative Sentiment: Execution, dilution and valuation risks: Commentary has raised concerns about funding potential acquisitions, shareholder dilution and the timing of Neutron’s development. Rocket Lab remains unprofitable, and its elevated valuation leaves the stock sensitive to missed milestones or weaker-than-expected earnings.
• Negative Sentiment: Insider selling: Reported insider activity shows substantial open-market sales and no purchases over the past six months, including sales attributed to senior executives. This may weigh on sentiment despite the new contract.

Rocket Lab Stock Performance

Rocket Lab stock opened at $74.82 on Thursday. Rocket Lab Corporation has a 52 week low of $37.57 and a 52 week high of $151.00. The company has a current ratio of 4.47, a quick ratio of 4.02 and a debt-to-equity ratio of 0.02. The stock has a market cap of $43.30 billion, a P/E ratio of -233.81 and a beta of 2.60. The stock has a 50 day moving average of $91.53 and a 200-day moving average of $85.99.

Rocket Lab (NASDAQ:RKLB) last posted its quarterly earnings results on Thursday, May 7th. The rocket manufacturer reported ($0.07) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.07). Rocket Lab had a negative net margin of 26.87% and a negative return on equity of 11.72%. The firm had revenue of $200.35 million for the quarter, compared to analysts’ expectations of $189.65 million. During the same period in the prior year, the company posted ($0.12) earnings per share. The firm’s quarterly revenue was up 63.4% on a year-over-year basis. On average, analysts expect that Rocket Lab Corporation will post -0.26 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Marvin Bradford Clevenger sold 3,500 shares of the stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $146.67, for a total transaction of $513,345.00. Following the transaction, the insider owned 473,975 shares of the company’s stock, valued at approximately $69,517,913.25. This trade represents a 0.73% 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, Director Alexander R. Slusky sold 40,000 shares of Rocket Lab stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $123.60, for a total value of $4,944,000.00. Following the completion of the transaction, the director owned 334,675 shares of the company’s stock, valued at $41,365,830. This trade represents a 10.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 3,849,294 shares of company stock worth $362,816,208. 8.40% of the stock is currently owned by insiders.

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.