Key Points
- Director Merline Saintil sold 10,000 shares of Rocket Lab on December 4 at an average price of $48 for a $480,000 transaction, reducing her holding to 413,529 shares (SEC filing).
- Recent results: Rocket Lab reported Q3 EPS of -$0.03 (beating -$0.05) and revenue of $155.1M, up 48% year-over-year, but the company remains unprofitable with a negative net margin and negative ROE.
- Market and sentiment: Rocket Lab has a market cap of about $26.2B, a 52-week range of $14.71–$73.97, a consensus analyst rating of "Moderate Buy" with an average target of $58.17, and roughly 71.8% institutional ownership (notable increases from Baillie Gifford and Vanguard).
Rocket Lab Corporation (NASDAQ:RKLB - Get Free Report) Director Merline Saintil sold 10,000 shares of Rocket Lab stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $48.00, for a total transaction of $480,000.00. Following the sale, the director owned 413,529 shares in the company, valued at $19,849,392. This represents a 2.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Rocket Lab Price Performance
NASDAQ:RKLB opened at $49.06 on Friday. The company has a 50-day moving average of $54.20 and a 200-day moving average of $44.85. The company has a market capitalization of $26.21 billion, a price-to-earnings ratio of -129.11 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 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 earnings results on Monday, November 10th. The rocket manufacturer reported ($0.03) earnings per share for the quarter, beating analysts' consensus estimates of ($0.05) by $0.02. Rocket Lab had a negative net margin of 35.64% and a negative return on equity of 27.26%. The business had revenue of $155.08 million for the quarter, compared to analysts' expectations of $152.45 million. During the same quarter in the previous year, the firm posted ($0.10) earnings per share. The firm's revenue for the quarter was up 48.0% on a year-over-year basis. As a group, equities research analysts anticipate that Rocket Lab Corporation will post -0.38 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in the business. Baillie Gifford & Co. lifted its position in Rocket Lab by 176.1% during the 3rd quarter. Baillie Gifford & Co. now owns 12,125,910 shares of the rocket manufacturer's stock worth $580,952,000 after buying an additional 7,734,788 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in Rocket Lab in the 2nd quarter valued at about $192,918,000. Norges Bank bought a new position in shares of Rocket Lab in the second quarter worth about $164,751,000. Vanguard Group Inc. raised its stake in shares of Rocket Lab by 10.6% in the first quarter. Vanguard Group Inc. now owns 40,029,546 shares of the rocket manufacturer's stock worth $715,728,000 after acquiring an additional 3,833,969 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of Rocket Lab by 67.0% during the second quarter. Invesco Ltd. now owns 6,242,304 shares of the rocket manufacturer's stock worth $223,287,000 after purchasing an additional 2,504,054 shares in the last quarter. 71.78% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
RKLB has been the subject of several analyst reports. Citigroup restated a "market perform" rating on shares of Rocket Lab in a research report on Wednesday, November 12th. Baird R W raised Rocket Lab to a "strong-buy" rating in a report on Thursday, October 16th. Wall Street Zen upgraded shares of Rocket Lab from a "strong sell" rating to a "hold" rating in a research note on Saturday, November 15th. Bank of America increased their target price on shares of Rocket Lab from $50.00 to $60.00 and gave the stock a "buy" rating in a research report on Wednesday, November 19th. Finally, Stifel Nicolaus reissued a "buy" rating and set a $75.00 price target (up from $65.00) on shares of Rocket Lab in a report on Tuesday, November 11th. Two equities 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 given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $58.17.
Read Our Latest Research Report on RKLB
About Rocket Lab
(
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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