Rocket Lab (NASDAQ:RKLB) Director Merline Saintil Sells 15,000 Shares

Rocket Lab Corporation (NASDAQ:RKLB) Director Merline Saintil sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $65.00, for a total value of $975,000.00. Following the completion of the sale, the director owned 398,529 shares of the company’s stock, valued at approximately $25,904,385. This trade represents a 3.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Merline Saintil also recently made the following trade(s):

• On Thursday, December 4th, Merline Saintil sold 10,000 shares of Rocket Lab stock. The shares were sold at an average price of $48.00, for a total value of $480,000.00.

Rocket Lab Price Performance

Shares of NASDAQ:RKLB traded up $0.08 during trading on Tuesday, reaching $55.49. 22,333,315 shares of the company traded hands, compared to its average volume of 20,774,986. The firm has a market capitalization of $29.64 billion, a PE ratio of -146.03 and a beta of 2.20. Rocket Lab Corporation has a 52 week low of $14.71 and a 52 week 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 company’s 50 day moving average is $54.74 and its two-hundred day moving average is $46.60.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new position in Rocket Lab in the 3rd quarter worth about $25,000. Hara Capital LLC bought a new stake in shares of Rocket Lab during the third quarter worth about $25,000. UMB Bank n.a. grew its holdings 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 purchasing an additional 423 shares during the last quarter. Sound Income Strategies LLC bought a new position in Rocket Lab in the 3rd quarter valued at approximately $27,000. Finally, EverSource Wealth Advisors LLC raised its holdings 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. 71.78% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on RKLB. Stifel Nicolaus reaffirmed a “buy” rating and set a $75.00 price target (up previously from $65.00) on shares of Rocket Lab in a report on Tuesday, November 11th. 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 research report on Wednesday, November 19th. Citigroup reaffirmed a “market perform” rating on shares of Rocket Lab in a report on Wednesday, November 12th. Morgan Stanley decreased their price target on Rocket Lab from $68.00 to $67.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 12th. Finally, Baird R W upgraded Rocket Lab to a “strong-buy” rating in a research report on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.