Arjun Kampani Sells 88,000 Shares of Rocket Lab (NASDAQ:RKLB) Stock

Rocket Lab Corporation (NASDAQ:RKLB) SVP Arjun Kampani sold 88,000 shares of the business’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $107.98, for a total value of $9,502,240.00. Following the sale, the senior vice president owned 264,705 shares of the company’s stock, valued at approximately $28,582,845.90. The trade was a 24.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Arjun Kampani also recently made the following trade(s):

• On Thursday, May 28th, Arjun Kampani sold 23,804 shares of Rocket Lab stock. The stock was sold at an average price of $147.43, for a total value of $3,509,423.72.
• On Wednesday, May 27th, Arjun Kampani sold 70,000 shares of Rocket Lab stock. The stock was sold at an average price of $145.13, for a total value of $10,159,100.00.
• On Tuesday, May 26th, Arjun Kampani sold 28,668 shares of Rocket Lab stock. The shares were sold at an average price of $142.57, for a total transaction of $4,087,196.76.

Rocket Lab Trading Down 0.7%

Shares of RKLB traded down $0.74 on Thursday, reaching $107.24. 70,237,347 shares of the company’s stock were exchanged, compared to its average volume of 24,805,969. The business has a 50 day moving average price of $104.00 and a two-hundred day moving average price of $82.68. Rocket Lab Corporation has a 12 month low of $27.84 and a 12 month high of $151.00. The stock has a market capitalization of $62.07 billion, a P/E ratio of -335.12 and a beta of 2.49. 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 (NASDAQ:RKLB) last announced its quarterly earnings data on Thursday, May 7th. The rocket manufacturer reported ($0.07) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.07). The firm had revenue of $200.35 million for the quarter, compared to analysts’ expectations of $189.65 million. Rocket Lab had a negative net margin of 26.87% and a negative return on equity of 11.72%. The business’s revenue for the quarter was up 63.4% on a year-over-year basis. During the same period last year, the firm earned ($0.12) earnings per share. Research analysts anticipate that Rocket Lab Corporation will post -0.29 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on RKLB shares. BTIG Research restated a “hold” rating on shares of Rocket Lab in a research report on Tuesday, May 12th. Stifel Nicolaus set a $132.00 target price on shares of Rocket Lab in a research note on Thursday, June 4th. KeyCorp raised shares of Rocket Lab from a “sector weight” rating to an “overweight” rating and set a $135.00 price target on the stock in a research report on Monday. Craig Hallum raised shares of Rocket Lab from a “hold” rating to a “buy” rating and set a $98.00 price target for the company in a report on Friday, May 8th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Rocket Lab in a report on Tuesday, April 21st. Three research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Rocket Lab presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.76.

Key Headlines Impacting Rocket Lab

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

• Positive Sentiment: Rocket Lab was added to the Nasdaq-100, a move that could force passive index funds and ETFs to buy shares and boost demand. Rocket Lab (RKLB) to Join Nasdaq-100 Index on June 22
• Positive Sentiment: The company’s latest operating results remain strong, with record quarterly revenue and a $2.2 billion backlog, supporting the long-term growth story for Rocket Lab. Rocket Lab: The End Of The SpaceX Proxy
• Positive Sentiment: Rocket Lab also cleared a key Space Development Agency review, reinforcing confidence in its defense and government programs. RKLB Stock Jumps Overnight: Retail Unfazed By Launch Delay Of Rocket Lab’s 90th Electron Mission
• Neutral Sentiment: Analyst commentary has been mixed, with some firms still highlighting Rocket Lab’s backlog, vertical integration and defense exposure, while others have downgraded the stock after the big rally. RKLB vs. ASTS: Analysts Say One Space Stock Looks Stronger Near-Term
• Negative Sentiment: The main reason for the stock’s decline is profit-taking after an outsized rally, with investors rotating out following the recent surge in RKLB shares. Rocket Lab (RKLB) Stock Has Plunged 30% from Highs, Here’s Why
• Negative Sentiment: Some market commentary argues the stock is still expensive on valuation despite the strong fundamentals, which may be limiting upside near term. Jim Cramer on Rocket Lab

Institutional Investors Weigh In On Rocket Lab

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Aventura Private Wealth LLC acquired a new position in Rocket Lab in the 4th quarter worth $25,000. Mcguire Capital Advisors Inc. acquired a new position in shares of Rocket Lab during the fourth quarter worth about $27,000. Zions Bancorporation National Association UT bought a new position in shares of Rocket Lab during the fourth quarter worth about $28,000. EverSource Wealth Advisors LLC raised its position 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 buying an additional 416 shares during the last quarter. Finally, Gordian Capital Singapore Pte Ltd bought a new stake in Rocket Lab in the 4th quarter valued at approximately $29,000. 71.78% of the stock is currently owned by institutional investors and hedge funds.

About Rocket Lab

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.