Sequoia Financial Advisors LLC Invests $275,000 in Rocket Lab Corporation $RKLB

Sequoia Financial Advisors LLC bought a new stake in shares of Rocket Lab Corporation (NASDAQ:RKLB) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 5,738 shares of the rocket manufacturer’s stock, valued at approximately $275,000.

Several other institutional investors also recently added to or reduced their stakes in RKLB. Wilmington Savings Fund Society FSB purchased a new stake in Rocket Lab in the 3rd quarter valued at about $25,000. Sound Income Strategies LLC purchased a new position in shares of Rocket Lab during the third quarter worth approximately $27,000. EverSource Wealth Advisors LLC raised its stake in shares of Rocket Lab by 109.5% during the second quarter. EverSource Wealth Advisors LLC now owns 796 shares of the rocket manufacturer’s stock valued at $28,000 after acquiring an additional 416 shares in the last quarter. Financial Consulate Inc. purchased a new stake in shares of Rocket Lab in the third quarter valued at approximately $35,000. Finally, Atlantic Union Bankshares Corp bought a new position in Rocket Lab in the second quarter worth approximately $36,000. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Analyst Ratings Changes

RKLB has been the subject of a number of research analyst reports. KeyCorp lowered Rocket Lab from an “overweight” rating to a “sector weight” rating in a research report on Thursday, January 15th. Cantor Fitzgerald restated an “overweight” rating on shares of Rocket Lab in a report on Wednesday, December 3rd. Robert W. Baird upgraded shares of Rocket Lab to a “strong-buy” rating in a report on Thursday, October 16th. The Goldman Sachs Group boosted their price target on shares of Rocket Lab from $47.00 to $69.00 and gave the company a “neutral” rating in a report on Tuesday, January 20th. Finally, Zacks Research raised shares of Rocket Lab from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 12th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $72.92.

Rocket Lab Stock Performance

Shares of Rocket Lab stock opened at $88.57 on Thursday. The company has a market capitalization of $47.31 billion, a PE ratio of -233.08 and a beta of 2.16. The company has a 50-day simple moving average of $68.19 and a two-hundred day simple moving average of $57.06. 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 quick ratio of 2.83 and a current ratio of 3.18.

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

Insider Buying and Selling at Rocket Lab

In related news, insider Frank Klein sold 100,000 shares of the business’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $72.95, for a total transaction of $7,295,000.00. Following the transaction, the insider directly owned 1,169,487 shares in the company, valued at $85,314,076.65. The trade was a 7.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Merline Saintil sold 96,000 shares of the stock in a transaction dated 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 completion of the sale, the director owned 292,529 shares of the company’s stock, valued at approximately $25,327,160.82. This trade represents a 24.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 4,306,150 shares of company stock valued at $271,865,732. Corporate insiders own 11.90% of the company’s stock.

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.