Rocket Lab revenue jumps 62% to $234M as Danske Bank takes new stake
What's the deal? Danske BankDealroom has a profile for this one. Try Dealroom → has disclosed a new stake in Rocket Lab Corporation (NASDAQ: RKLB), buying 269,377 shares worth roughly $27.4 million during the second quarter, according to its latest 13F filing with the Securities and Exchange Commission.
What does the company do? Rocket Lab is a space company that builds rockets and satellite systems. Its recent expansion spans Photon spacecraft, GHOST responsive-launch systems, and satellite-network work.
How are the numbers? Second-quarter revenue rose 62% year over year to $234.07 million, beating the $231.62 million consensus. Backlog reached about $2.36 billion. But the company reported a loss of $0.08 per share, missing estimates by $0.02, and posted a negative net margin of 21.51%.
Who else is buying? Institutional investors own 71.78% of the stock. VanguardDealroom has a profile for this one. Try Dealroom → holds shares worth $3.31 billion, BlackRock opened a new position valued at about $4.12 billion in the second quarter, and Cathie Wood's ARK InvestDealroom has a profile for this one. Try Dealroom → bought 160,890 shares.
Why now? Rocket Lab was selected for the US Space Force's Space Data Network Consortium, winning two delivery orders totalling $12 million. It also joined the Space Force's $981 million NITE-STAR program for space test and training infrastructure, widening its access to government contracts.
What could go wrong? The stock opened at $75.84 on Thursday, down from a one-year high of $151.00, and carries a PE ratio of -280.88. Some analysts argue the valuation has outpaced near-term earnings power. Insiders have sold 3,749,294 shares worth $351 million over the past three months, including an $82.1 million sale by the chief executive officer.
The signal: Strong government demand and rising revenue are drawing big institutional money into Rocket Lab, but heavy insider selling and steep losses show the market is still betting on execution rather than results.
Read more: The Markets Daily
Image credit: Grumpy Eye
