Rocket Lab Corporation $RKLB Shares Purchased by Legato Capital Management LLC

Legato Capital Management LLC boosted its holdings in Rocket Lab Corporation (NASDAQ:RKLB) by 40.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 29,961 shares of the rocket manufacturer’s stock after acquiring an additional 8,628 shares during the period. Legato Capital Management LLC’s holdings in Rocket Lab were worth $2,090,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Sara Bay Financial lifted its holdings in Rocket Lab by 0.7% in the fourth quarter. Sara Bay Financial now owns 15,905 shares of the rocket manufacturer’s stock valued at $1,121,000 after acquiring an additional 117 shares during the last quarter. ORG Partners LLC lifted its holdings in Rocket Lab by 9.1% in the fourth quarter. ORG Partners LLC now owns 1,458 shares of the rocket manufacturer’s stock valued at $102,000 after acquiring an additional 121 shares during the last quarter. Traynor Capital Management Inc. lifted its holdings in Rocket Lab by 1.9% in the fourth quarter. Traynor Capital Management Inc. now owns 7,191 shares of the rocket manufacturer’s stock valued at $502,000 after acquiring an additional 133 shares during the last quarter. Capital Advisors Wealth Management LLC lifted its holdings in Rocket Lab by 1.0% in the fourth quarter. Capital Advisors Wealth Management LLC now owns 13,466 shares of the rocket manufacturer’s stock valued at $939,000 after acquiring an additional 136 shares during the last quarter. Finally, Quadcap Wealth Management LLC lifted its holdings in Rocket Lab by 2.3% in the fourth quarter. Quadcap Wealth Management LLC now owns 6,246 shares of the rocket manufacturer’s stock valued at $436,000 after acquiring an additional 140 shares during the last quarter. 71.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on RKLB. Wells Fargo & Company began coverage on Rocket Lab in a report on Wednesday, April 1st. They issued an “equal weight” rating and a $60.00 price objective on the stock. Wall Street Zen upgraded Rocket Lab from a “sell” rating to a “hold” rating in a research note on Sunday, February 8th. Zacks Research cut Rocket Lab from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 10th. Clear Str upgraded Rocket Lab to a “strong-buy” rating in a research note on Wednesday, March 18th. Finally, Needham & Company LLC upped their price target on Rocket Lab from $95.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Three research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Rocket Lab presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.19.

Key Stories Impacting Rocket Lab

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

• Positive Sentiment: Rocket Lab won a $90 million Space Force contract, which expands its satellite business into geostationary orbit and adds a meaningful new source of revenue. Article Title
• Positive Sentiment: The company completed its 9th Electron launch for Synspective, underscoring strong execution and a durable commercial launch partnership. Article Title
• Neutral Sentiment: Broader space-stock momentum and renewed interest ahead of SpaceX’s IPO are also lifting sentiment across the sector, including RKLB. Article Title
• Negative Sentiment: Some investors remain wary after Rocket Lab’s recent announcement of a potential $3 billion share-sale program, which raised dilution concerns earlier in the week. Article Title

Rocket Lab Stock Up 8.2%

Shares of NASDAQ RKLB opened at $135.76 on Friday. The stock has a market cap of $78.57 billion, a P/E ratio of -424.25 and a beta of 2.30. The business’s fifty day simple moving average is $84.84 and its 200-day simple moving average is $73.16. The company has a current ratio of 4.47, a quick ratio of 4.02 and a debt-to-equity ratio of 0.02. Rocket Lab Corporation has a 12-month low of $24.67 and a 12-month high of $139.76.

Rocket Lab (NASDAQ:RKLB) last posted its earnings results on Thursday, May 7th. The rocket manufacturer reported ($0.07) EPS for the quarter, meeting the consensus estimate of ($0.07). The firm had revenue of $200.35 million for 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 for the quarter was up 63.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.12) earnings per share. As a group, equities analysts predict that Rocket Lab Corporation will post -0.29 EPS for the current fiscal year.

Insider Transactions at Rocket Lab

In related news, insider Frank Klein sold 44,482 shares of the stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $69.59, for a total value of $3,095,502.38. Following the transaction, the insider owned 1,125,005 shares of the company’s stock, valued at $78,289,097.95. This represents a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Arjun Kampani sold 28,761 shares of the stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $69.59, for a total value of $2,001,477.99. Following the completion of the transaction, the senior vice president directly owned 421,699 shares in the company, valued at $29,346,033.41. This trade represents a 6.38% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 333,449 shares of company stock valued at $28,295,233 over the last ninety days. Company insiders own 8.40% 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.