Hamilton Lane Advisors LLC Makes New $766,000 Investment in Rocket Lab Corporation $RKLB

by · The Markets Daily

Hamilton Lane Advisors LLC acquired a new stake in shares of Rocket Lab Corporation (NASDAQ:RKLB – Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 15,994 shares of the rocket manufacturer’s stock, valued at approximately $766,000. Rocket Lab comprises about 0.4% of Hamilton Lane Advisors LLC’s portfolio, making the stock its 12th largest holding.

Other large investors have also modified their holdings of the company. Invesco Ltd. raised its position in shares of Rocket Lab by 67.0% during the second quarter. Invesco Ltd. now owns 6,242,304 shares of the rocket manufacturer’s stock worth $223,287,000 after purchasing an additional 2,504,054 shares during the period. Kingstone Capital Partners Texas LLC purchased a new position in Rocket Lab in the 2nd quarter worth about $192,918,000. Norges Bank acquired a new stake in Rocket Lab during the 2nd quarter worth about $164,751,000. American Century Companies Inc. lifted its stake in Rocket Lab by 6.2% during the second quarter. American Century Companies Inc. now owns 2,251,130 shares of the rocket manufacturer’s stock valued at $80,523,000 after buying an additional 131,996 shares in the last quarter. Finally, Royal Bank of Canada boosted its holdings in shares of Rocket Lab by 6.4% in the first quarter. Royal Bank of Canada now owns 2,128,536 shares of the rocket manufacturer’s stock worth $38,057,000 after buying an additional 128,907 shares during the period. 71.78% of the stock is owned by institutional investors.

Insider Transactions at Rocket Lab

In other Rocket Lab news, Director Merline Saintil sold 15,000 shares of Rocket Lab stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $65.00, for a total value of $975,000.00. Following the completion of the sale, the director directly owned 398,529 shares in the company, valued at $25,904,385. The trade was a 3.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Frank Klein sold 41,782 shares of the stock in a transaction on Monday, November 24th. The stock was sold at an average price of $40.65, for a total transaction of $1,698,438.30. Following the transaction, the insider owned 1,274,223 shares in the company, valued at approximately $51,797,164.95. This trade represents a 3.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 3,566,759 shares of company stock valued at $191,361,452 in the last ninety days. 11.90% of the stock is currently owned by insiders.

Rocket Lab Trading Up 0.1%

NASDAQ RKLB opened at $55.49 on Wednesday. The company has a current ratio of 3.18, a quick ratio of 2.83 and a debt-to-equity ratio of 0.32. Rocket Lab Corporation has a 1-year low of $14.71 and a 1-year high of $73.97. The firm’s fifty day simple moving average is $54.74 and its 200-day simple moving average is $46.60. The company has a market capitalization of $29.64 billion, a PE ratio of -146.03 and a beta of 2.20.

Rocket Lab (NASDAQ:RKLB – Get Free Report) last issued its earnings results on Monday, November 10th. The rocket manufacturer reported ($0.03) EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $152.45 million. During the same quarter in the previous 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. As a group, sell-side analysts anticipate that Rocket Lab Corporation will post -0.38 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on RKLB. Baird R W upgraded shares of Rocket Lab to a “strong-buy” rating in a research report on Thursday, October 16th. Stifel Nicolaus reissued a “buy” rating and set a $75.00 target price (up from $65.00) on shares of Rocket Lab in a research note on Tuesday, November 11th. KeyCorp raised their target price on Rocket Lab from $50.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. Citigroup reissued a “market perform” rating on shares of Rocket Lab in a research report on Wednesday, November 12th. Finally, Wall Street Zen downgraded Rocket Lab from a “hold” rating to a “sell” rating in a research note on Saturday. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $58.17.

Check Out Our Latest Stock Analysis on RKLB

Rocket Lab Company Profile

(Free Report)

Rocket Lab USA, Inc, a space company, provides launch services and space systems solutions for the space and defense industries. The company provides launch services, spacecraft design services, spacecraft components, spacecraft manufacturing, and other spacecraft and on-orbit management solutions; and constellation management services, as well as designs and manufactures small and medium-class rockets.

See Also

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