Peter Beck Sells 1,560,254 Shares of Rocket Lab (NASDAQ:RKLB) Stock

by · The Cerbat Gem

Rocket Lab Corporation (NASDAQ:RKLB – Get Free Report) CEO Peter Beck sold 1,560,254 shares of Rocket Lab stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $57.47, for a total value of $89,667,797.38. Following the sale, the chief executive officer directly owned 939,746 shares in the company, valued at approximately $54,007,202.62. This trade represents a 62.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

  • On Tuesday, December 16th, Peter Beck sold 939,746 shares of Rocket Lab stock. The stock was sold at an average price of $54.73, for a total transaction of $51,432,298.58.
  • 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 value of $766,537.05.

Rocket Lab Stock Up 0.1%

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

Rocket Lab (NASDAQ:RKLB – Get Free Report) last posted 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. 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 analysts’ expectations of $152.45 million. During the same quarter in the previous year, the firm earned ($0.10) EPS. The firm’s revenue was up 48.0% compared to the same quarter last year. As a group, equities analysts anticipate that Rocket Lab Corporation will post -0.38 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on RKLB shares. Weiss Ratings restated a “sell (d-)” rating on shares of Rocket Lab in a research report on Wednesday, October 8th. Morgan Stanley cut their price target 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. Wall Street Zen downgraded shares of Rocket Lab from a “hold” rating to a “sell” rating in a research report on Saturday. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Rocket Lab in a research report on Wednesday, December 3rd. Finally, Baird R W upgraded Rocket Lab to a “strong-buy” rating in a research report on Thursday, October 16th. Two research 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.17.

Get Our Latest Stock Analysis on Rocket Lab

Institutional Investors Weigh In On Rocket Lab

Several large investors have recently modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of Rocket Lab during the third quarter valued at approximately $25,000. Hara Capital LLC bought a new stake in Rocket Lab in the third quarter worth about $25,000. UMB Bank n.a. lifted its stake in Rocket Lab by 352.5% in the third quarter. UMB Bank n.a. now owns 543 shares of the rocket manufacturer’s stock valued at $26,000 after purchasing an additional 423 shares during the last quarter. Sound Income Strategies LLC bought a new position in Rocket Lab during the third quarter valued at $27,000. Finally, EverSource Wealth Advisors LLC increased its position in Rocket Lab by 109.5% in the second quarter. EverSource Wealth Advisors LLC now owns 796 shares of the rocket manufacturer’s stock worth $28,000 after buying an additional 416 shares during the last quarter. 71.78% of the stock is currently owned by institutional investors and hedge funds.

Rocket Lab Company Profile

(Get Free Report)

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.

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