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 company’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $48.00, for a total value of $480,000.00. Following the completion of the sale, the director owned 413,529 shares in the company, valued at $19,849,392. The trade was a 2.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Rocket Lab Stock Performance

NASDAQ:RKLB traded down $0.31 during trading hours 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. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.18 and a quick ratio of 2.83. Rocket Lab Corporation has a 1-year low of $14.71 and a 1-year high of $73.97. The business’s 50 day moving average price is $54.14 and its 200-day moving average price is $44.68. The firm 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 issued its quarterly earnings data on Monday, November 10th. The rocket manufacturer reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $155.08 million for the quarter, compared to analysts’ expectations of $152.45 million. During the same quarter last year, the company earned ($0.10) EPS. The business’s revenue was up 48.0% on a year-over-year basis. Research analysts forecast that Rocket Lab Corporation will post -0.38 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RKLB. Vanguard Group Inc. grew its holdings in shares of Rocket Lab by 5.4% during the third quarter. Vanguard Group Inc. now owns 41,809,723 shares of the rocket manufacturer’s stock worth $2,003,104,000 after buying an additional 2,127,565 shares in the last quarter. Capital World Investors lifted its stake in shares of Rocket Lab by 9.4% in the third quarter. Capital World Investors now owns 14,462,103 shares of the rocket manufacturer’s stock worth $692,879,000 after buying an additional 1,242,547 shares in the last quarter. State Street Corp boosted its position in Rocket Lab by 13.6% during the third quarter. State Street Corp now owns 12,399,571 shares of the rocket manufacturer’s stock worth $594,063,000 after acquiring an additional 1,487,237 shares during the last quarter. Baillie Gifford & Co. grew its stake in Rocket Lab by 176.1% during the 3rd quarter. Baillie Gifford & Co. now owns 12,125,910 shares of the rocket manufacturer’s stock valued at $580,952,000 after acquiring an additional 7,734,788 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in Rocket Lab by 67.0% in the 2nd quarter. Invesco Ltd. now owns 6,242,304 shares of the rocket manufacturer’s stock valued at $223,287,000 after acquiring an additional 2,504,054 shares during the last quarter. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Wall Street Analysts Forecast Growth

RKLB has been the subject of a number of analyst reports. Baird R W upgraded shares of Rocket Lab to a “strong-buy” rating in a research report on Thursday, October 16th. KeyCorp lifted their price target on Rocket Lab from $50.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, October 17th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Rocket Lab in a research report on Wednesday. Morgan Stanley cut their price objective on Rocket Lab from $68.00 to $67.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 12th. Finally, Robert W. Baird assumed coverage on Rocket Lab in a research report on Wednesday, October 15th. They set an “outperform” rating and a $83.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Rocket Lab 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.