Rocket Lab (NASDAQ:RKLB) Director Sells $4,944,000.00 in Stock

Rocket Lab Corporation (NASDAQ:RKLB – Get Free Report) Director Alexander Slusky sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $123.60, for a total value of $4,944,000.00. Following the transaction, the director owned 334,675 shares in the company, valued at approximately $41,365,830. This trade represents a 10.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Rocket Lab Stock Down 8.2%

Shares of NASDAQ:RKLB traded down $9.87 on Friday, reaching $110.08. The company had a trading volume of 21,327,751 shares, compared to its average volume of 24,129,574. The stock has a market capitalization of $63.71 billion, a P/E ratio of -344.00 and a beta of 2.49. The stock has a 50-day moving average price of $96.28 and a 200 day moving average price of $78.47. Rocket Lab Corporation has a twelve month low of $25.24 and a twelve month high of $151.00. The company has a quick ratio of 4.02, a current ratio of 4.47 and a debt-to-equity ratio of 0.02.

Rocket Lab (NASDAQ:RKLB – Get Free Report) last posted 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 firm had revenue of $200.35 million during the quarter, compared to analyst estimates of $189.65 million. During the same period in the previous year, the company earned ($0.12) EPS. The company’s revenue for the quarter was up 63.4% on a year-over-year basis. On average, equities analysts expect that Rocket Lab Corporation will post -0.29 EPS for the current year.

Institutional Investors Weigh In On Rocket Lab

A number of institutional investors have recently added to or reduced their stakes in the stock. Aventura Private Wealth LLC acquired a new position in shares of Rocket Lab in the 4th quarter worth approximately $25,000. UMB Bank n.a. grew its position 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 acquiring an additional 423 shares during the period. Mcguire Capital Advisors Inc. acquired a new position in Rocket Lab during the fourth quarter worth $27,000. Zions Bancorporation National Association UT acquired a new position in Rocket Lab during the fourth quarter worth $28,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Rocket Lab by 109.5% during the second quarter. EverSource Wealth Advisors LLC now owns 796 shares of the rocket manufacturer’s stock valued at $28,000 after acquiring an additional 416 shares during the period. 71.78% of the stock is owned by institutional investors and hedge funds.

Rocket Lab News Roundup

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

• Positive Sentiment: Wall Street sentiment improved after Stifel raised its price target on Rocket Lab to a Street-high $132 from $110 and kept a Buy rating, reinforcing the view that growth can continue. Rocket Lab Stock (RKLB) Lands a New Street-High Target as Top Stifel Analyst Sees Stronger Growth Ahead
• Positive Sentiment: Recent coverage continues to highlight Rocket Lab’s strong operating momentum, including its first-ever $200 million revenue quarter, 63%+ year-over-year revenue growth, expanding gross margin, and a backlog that reached $2.2 billion. Rocket Lab: Don’t Hold Your Breath On Neutron
• Positive Sentiment: The broader space sector is getting a lift from SpaceX IPO excitement, and Rocket Lab is being viewed as a public-market way to play the space race, which has helped sentiment across RKLB and other space stocks. There’s More to Space Stocks Than SpaceX
• Neutral Sentiment: Some analysts and commentators are warning that the stock’s big rally may have outrun fundamentals, pointing to valuation risk and possible volatility if expectations become harder to beat. We’re Holding Rocket Lab Despite 356% Rally
• Negative Sentiment: Bearish pieces argue investors should be cautious ahead of a possible SpaceX IPO “reality check,” with concerns that competition and sky-high expectations could eventually pressure RKLB’s multiple. Rocket Lab: Sell Before The SpaceX IPO Reality Check

Analyst Upgrades and Downgrades

RKLB has been the subject of a number of research analyst reports. Stifel Nicolaus set a $132.00 price objective on shares of Rocket Lab in a research report on Thursday. Deutsche Bank Aktiengesellschaft boosted their price target on Rocket Lab from $73.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. TD Cowen raised their price objective on Rocket Lab from $90.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Wells Fargo & Company initiated coverage on Rocket Lab in a research report on Wednesday, April 1st. They set an “equal weight” rating and a $60.00 price objective on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Rocket Lab in a research note on Tuesday, April 21st. Three research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Rocket Lab presently has a consensus rating of “Moderate Buy” and an average price target of $98.88.

Get Our Latest Research Report on Rocket Lab

Rocket Lab Company Profile

(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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