Insider Selling: Rocket Lab (NASDAQ:RKLB) Director Sells 2,500 Shares of Stock

Rocket Lab Corporation (NASDAQ:RKLB) Director Edward Frank sold 2,500 shares of the company’s stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $77.39, for a total transaction of $193,475.00. Following the completion of the transaction, the director owned 142,504 shares of the company’s stock, valued at $11,028,384.56. This trade represents a 1.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Rocket Lab Trading Up 0.5%

Shares of RKLB traded up $0.33 during trading hours on Tuesday, reaching $70.45. 30,034,921 shares of the company traded hands, compared to its average volume of 21,135,213. Rocket Lab Corporation has a 12 month low of $14.71 and a 12 month high of $79.83. 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 fifty day moving average price is $55.41 and its two-hundred day moving average price is $49.32. The company has a market capitalization of $37.63 billion, a price-to-earnings ratio of -185.39 and a beta of 2.20.

Rocket Lab (NASDAQ:RKLB) last released its quarterly earnings results on Monday, November 10th. The rocket manufacturer reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. The company had revenue of $155.08 million during the quarter, compared to the consensus estimate 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 was up 48.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.10) earnings per share. Equities research analysts predict that Rocket Lab Corporation will post -0.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

RKLB has been the topic of a number of research reports. Wall Street Zen cut shares of Rocket Lab from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. Morgan Stanley dropped their price objective on shares of 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. Citigroup reaffirmed a “market perform” rating on shares of Rocket Lab in a research note on Wednesday, November 12th. Roth Capital reiterated a “buy” rating and set a $75.00 target price on shares of Rocket Lab in a report on Tuesday, November 11th. Finally, Robert W. Baird initiated coverage on Rocket Lab in a research note on Wednesday, October 15th. They issued an “outperform” rating and a $83.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Rocket Lab currently has an average rating of “Moderate Buy” and a consensus target price of $61.25.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new position in shares of Rocket Lab in the third quarter worth $25,000. Hara Capital LLC bought a new stake in Rocket Lab in the 3rd quarter worth approximately $25,000. UMB Bank n.a. raised its stake in Rocket Lab by 352.5% during the 3rd quarter. UMB Bank n.a. now owns 543 shares of the rocket manufacturer’s stock valued at $26,000 after buying an additional 423 shares during the last quarter. Sound Income Strategies LLC purchased a new stake in Rocket Lab during the 3rd quarter valued at $27,000. Finally, Financial Consulate Inc. bought a new position in shares of Rocket Lab during the 3rd quarter valued at $35,000. Institutional investors own 71.78% of the company’s stock.

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.