Rocket Lab (NASDAQ:RKLB) CEO Sells $51,432,298.58 in Stock

Rocket Lab Corporation (NASDAQ:RKLB) CEO Peter Beck sold 939,746 shares of the business’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $54.73, for a total value of $51,432,298.58. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Peter Beck also recently made the following trade(s):

• On Monday, December 15th, Peter Beck sold 1,560,254 shares of Rocket Lab stock. The stock was sold at an average price of $57.47, for a total transaction of $89,667,797.38.
• On Monday, November 24th, Peter Beck sold 18,857 shares of Rocket Lab stock. The stock was sold at an average price of $40.65, for a total transaction of $766,537.05.

Rocket Lab Trading Up 0.1%

Shares of RKLB stock traded up $0.08 during trading hours on Tuesday, hitting $55.49. 22,333,315 shares of the company’s stock traded hands, compared to its average volume of 19,179,260. The stock has a market cap of $29.64 billion, a PE ratio of -146.03 and a beta of 2.20. The stock’s 50 day simple moving average is $54.74 and its 200 day simple moving average is $46.60. The company has a quick ratio of 2.83, a current ratio of 3.18 and a debt-to-equity ratio of 0.32. Rocket Lab Corporation has a 12 month low of $14.71 and a 12 month high of $73.97.

Rocket Lab (NASDAQ:RKLB) last issued its quarterly earnings data on Monday, November 10th. The rocket manufacturer reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.02. The company had revenue of $155.08 million for the quarter, compared to analysts’ expectations of $152.45 million. Rocket Lab had a negative net margin of 35.64% and a negative return on equity of 27.26%. Rocket Lab’s revenue for the quarter was up 48.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.10) earnings per share. On average, sell-side analysts anticipate that Rocket Lab Corporation will post -0.38 EPS for the current year.

Institutional Trading of Rocket Lab

Several institutional investors have recently made changes to their positions in RKLB. Baillie Gifford & Co. increased its stake in shares of Rocket Lab by 176.1% during the 3rd quarter. Baillie Gifford & Co. now owns 12,125,910 shares of the rocket manufacturer’s stock worth $580,952,000 after purchasing an additional 7,734,788 shares during the last quarter. Kingstone Capital Partners Texas LLC purchased a new stake in Rocket Lab in the second quarter worth $192,918,000. Norges Bank bought a new stake in shares of Rocket Lab in the second quarter valued at $164,751,000. Invesco Ltd. lifted its position in shares of Rocket Lab by 67.0% during the 2nd quarter. Invesco Ltd. now owns 6,242,304 shares of the rocket manufacturer’s stock valued at $223,287,000 after buying an additional 2,504,054 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in Rocket Lab by 5.4% in the 3rd quarter. Vanguard Group Inc. now owns 41,809,723 shares of the rocket manufacturer’s stock worth $2,003,104,000 after acquiring an additional 2,127,565 shares during the last quarter. Institutional investors own 71.78% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Baird R W upgraded shares of Rocket Lab to a “strong-buy” rating in a 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $63.00 price target on shares of Rocket Lab in a research note on Tuesday, November 25th. Bank of America upped 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. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Rocket Lab in a research note on Wednesday, December 3rd. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.17.

About Rocket Lab

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.