Adam Spice Sells 62,744 Shares of Rocket Lab (NASDAQ:RKLB) Stock

by · The Cerbat Gem

Rocket Lab Corporation (NASDAQ:RKLB – Get Free Report) CFO Adam Spice sold 62,744 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $142.57, for a total transaction of $8,945,412.08. Following the transaction, the chief financial officer owned 983,049 shares in the company, valued at approximately $140,153,295.93. This represents a 6.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Rocket Lab Stock Down 1.5%

Shares of NASDAQ:RKLB traded down $2.20 during midday trading on Thursday, hitting $148.03. 20,353,691 shares of the stock were exchanged, compared to its average volume of 28,300,480. The company has a market capitalization of $85.67 billion, a PE ratio of -462.59 and a beta of 2.30. Rocket Lab Corporation has a 52-week low of $25.24 and a 52-week high of $151.00. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.02 and a current ratio of 4.47. The business’s fifty day simple moving average is $90.65 and its two-hundred day simple moving average is $75.80.

Rocket Lab (NASDAQ:RKLB – Get Free Report) last issued its earnings results on Thursday, May 7th. The rocket manufacturer reported ($0.07) earnings per share for the quarter, hitting the consensus estimate of ($0.07). Rocket Lab had a negative return on equity of 11.72% and a negative net margin of 26.87%.The company had revenue of $200.35 million for the quarter, compared to analyst estimates of $189.65 million. During the same period in the prior year, the firm posted ($0.12) EPS. The business’s revenue was up 63.4% compared to the same quarter last year. As a group, research analysts predict that Rocket Lab Corporation will post -0.29 earnings per share for the current fiscal year.

Key Rocket Lab News

Here are the key news stories impacting Rocket Lab this week:

  • Positive Sentiment: Rocket Lab announced it passed the System Requirements Review for the Space Development Agency’s Tracking Layer Tranche 3 program, a key step that supports its role in a proposed missile-defense constellation. Rocket Lab Achieves Milestone for Missile Defense Constellation, Passes System Requirements Review for SDA Tracking Layer Tranche 3
  • Positive Sentiment: The company recently won a $90 million U.S. Space Force contract to build geostationary satellites, adding to investor confidence that Rocket Lab is expanding its defense footprint and government-contract pipeline.
  • Positive Sentiment: Rocket Lab’s defense awards have now surpassed $1.3 billion, a headline that has helped fuel the stock’s recent rerating as investors see more long-term revenue potential from national-security programs.
  • Positive Sentiment: Space-sector enthusiasm has broadened after SpaceX’s IPO filing, lifting attention on public peers like Rocket Lab as investors speculate the group could benefit from renewed capital inflows and higher sector valuations.
  • Neutral Sentiment: Social-media and analyst commentary remains bullish overall, but some traders are taking profits after the strong run, which may be adding short-term choppiness to the share price.
  • Negative Sentiment: Insider trading data shows only sales and no purchases over the past six months, which could weigh on sentiment even though it does not necessarily change the company’s operating outlook.

Analysts Set New Price Targets

Several research firms have commented on RKLB. Craig Hallum raised shares of Rocket Lab from a “hold” rating to a “buy” rating and set a $98.00 target price for the company in a research report on Friday, May 8th. Wall Street Zen upgraded Rocket Lab from a “sell” rating to a “hold” rating in a report on Sunday, February 8th. TD Cowen increased their price target on Rocket Lab from $90.00 to $120.00 and gave the company a “buy” rating in a report on Friday, May 8th. Wells Fargo & Company assumed coverage on shares of Rocket Lab in a research note on Wednesday, April 1st. They issued an “equal weight” rating and a $60.00 price objective for the company. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Rocket Lab in a research note on Wednesday. Three analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $97.19.

View Our Latest Stock Report on Rocket Lab

Institutional Investors Weigh In On Rocket Lab

Several large investors have recently modified their holdings of RKLB. Sara Bay Financial grew its holdings in shares of Rocket Lab by 0.7% during the fourth quarter. Sara Bay Financial now owns 15,905 shares of the rocket manufacturer’s stock worth $1,121,000 after purchasing an additional 117 shares during the last quarter. ORG Partners LLC increased its position in Rocket Lab by 9.1% in the 4th quarter. ORG Partners LLC now owns 1,458 shares of the rocket manufacturer’s stock valued at $102,000 after acquiring an additional 121 shares in the last quarter. Bartlett & CO. Wealth Management LLC raised its stake in shares of Rocket Lab by 7.1% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 1,869 shares of the rocket manufacturer’s stock worth $120,000 after acquiring an additional 124 shares during the last quarter. Sovereign Financial Group Inc. lifted its position in shares of Rocket Lab by 3.9% during the first quarter. Sovereign Financial Group Inc. now owns 3,320 shares of the rocket manufacturer’s stock worth $213,000 after purchasing an additional 125 shares in the last quarter. Finally, Traynor Capital Management Inc. grew its stake in shares of Rocket Lab by 1.9% during the fourth quarter. Traynor Capital Management Inc. now owns 7,191 shares of the rocket manufacturer’s stock valued at $502,000 after purchasing an additional 133 shares during the last quarter. 71.78% of the stock is currently owned by institutional investors.

About Rocket Lab

(Get Free Report)

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.

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