Vicus Capital Takes Position in Rocket Lab Corporation $RKLB

by · The Cerbat Gem

Vicus Capital bought a new position in shares of Rocket Lab Corporation (NASDAQ:RKLB – Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 6,190 shares of the rocket manufacturer’s stock, valued at approximately $297,000.

Several other institutional investors also recently modified their holdings of the business. Truist Financial Corp grew its stake in Rocket Lab by 1.9% during the second quarter. Truist Financial Corp now owns 12,352 shares of the rocket manufacturer’s stock worth $442,000 after purchasing an additional 234 shares during the period. ORG Partners LLC lifted its holdings in shares of Rocket Lab by 22.1% in the third quarter. ORG Partners LLC now owns 1,337 shares of the rocket manufacturer’s stock valued at $64,000 after purchasing an additional 242 shares in the last quarter. Parvin Asset Management LLC grew its stake in shares of Rocket Lab by 7.2% in the 2nd quarter. Parvin Asset Management LLC now owns 3,725 shares of the rocket manufacturer’s stock worth $133,000 after acquiring an additional 250 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Rocket Lab by 36.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,518 shares of the rocket manufacturer’s stock worth $54,000 after buying an additional 405 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in Rocket Lab by 109.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 796 shares of the rocket manufacturer’s stock valued at $28,000 after purchasing an additional 416 shares during the period. Institutional investors own 71.78% of the company’s stock.

Rocket Lab Stock Performance

Shares of RKLB opened at $87.90 on Tuesday. The stock has a market cap of $46.95 billion, a price-to-earnings ratio of -231.32 and a beta of 2.16. Rocket Lab Corporation has a 52 week low of $14.71 and a 52 week high of $89.87. The business has a 50-day simple moving average of $58.51 and a two-hundred day simple moving average of $52.78. The company has a quick ratio of 2.83, a current ratio of 3.18 and a debt-to-equity ratio of 0.32.

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

Analyst Upgrades and Downgrades

Several equities research analysts have commented on RKLB shares. Morgan Stanley dropped their price objective on shares of Rocket Lab from $68.00 to $67.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 12th. Cantor Fitzgerald restated an “overweight” rating on shares of Rocket Lab in a research report on Wednesday, December 3rd. Wall Street Zen upgraded Rocket Lab from a “sell” rating to a “hold” rating in a research report on Saturday, January 3rd. Needham & Company LLC lifted their price target on Rocket Lab from $63.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, December 23rd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rocket Lab in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, seven have given 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 an average rating of “Moderate Buy” and a consensus price target of $61.25.

Read Our Latest Research Report on Rocket Lab

Insider Transactions at Rocket Lab

In related news, Director Merline Saintil sold 5,000 shares of Rocket Lab stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $65.00, for a total value of $325,000.00. Following the completion of the sale, the director directly owned 388,529 shares in the company, valued at $25,254,385. The trade was a 1.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Frank Klein sold 100,000 shares of Rocket Lab 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 completion of the transaction, the insider directly owned 1,169,487 shares in the company, valued at $85,314,076.65. This represents a 7.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 4,197,650 shares of company stock valued at $262,429,052 in the last ninety days. Corporate insiders own 11.90% of the company’s stock.

Rocket Lab Company Profile

(Free Report)

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.

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