Rocket Lab (NASDAQ:RKLB) Director Sells $480,000.00 in Stock

Rocket Lab Corporation (NASDAQ:RKLB) Director Merline Saintil sold 10,000 shares of the business’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $48.00, for a total value of $480,000.00. Following the transaction, the director directly owned 413,529 shares in the company, valued at $19,849,392. This trade represents a 2.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Rocket Lab Trading Down 0.6%

Shares of RKLB traded down $0.31 during midday trading on Friday, reaching $49.06. The company had a trading volume of 14,577,305 shares, compared to its average volume of 20,547,643. Rocket Lab Corporation has a 1-year low of $14.71 and a 1-year high of $73.97. The company has a quick ratio of 2.83, a current ratio of 3.18 and a debt-to-equity ratio of 0.32. The firm has a 50 day simple moving average of $54.14 and a 200-day simple moving average of $44.68. The stock has a market cap of $26.21 billion, a PE ratio of -129.11 and a beta of 2.20.

Rocket Lab (NASDAQ:RKLB) last announced its quarterly earnings results on Monday, November 10th. The rocket manufacturer reported ($0.03) earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $152.45 million. During the same quarter in the previous year, the company posted ($0.10) EPS. The company’s revenue was up 48.0% compared to the same quarter last year. Research analysts forecast that Rocket Lab Corporation will post -0.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Wilmington Savings Fund Society FSB acquired a new stake in Rocket Lab during the 3rd quarter worth approximately $25,000. Hara Capital LLC acquired a new position in shares of Rocket Lab in the third quarter worth $25,000. UMB Bank n.a. increased its position in shares of Rocket Lab by 352.5% during the third quarter. UMB Bank n.a. now owns 543 shares of the rocket manufacturer’s stock worth $26,000 after acquiring an additional 423 shares during the period. Sound Income Strategies LLC acquired a new stake in shares of Rocket Lab in the third quarter valued at $27,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in Rocket Lab by 109.5% in the second 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 and hedge funds own 71.78% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Roth Capital restated a “buy” rating and set a $75.00 price target on shares of Rocket Lab in a report on Tuesday, November 11th. Robert W. Baird began coverage on Rocket Lab in a research note on Wednesday, October 15th. They set an “outperform” rating and a $83.00 target price for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rocket Lab in a research note on Wednesday, October 8th. Needham & Company LLC reiterated a “buy” rating and set a $63.00 price target on shares of Rocket Lab in a report on Tuesday, November 25th. Finally, Bank of America boosted their price objective on shares of Rocket Lab from $50.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, November 19th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $58.17.

Rocket Lab Company Profile

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.