Key Points
- CEO Peter Beck sold 939,746 shares on Dec. 16 at an average of $54.73 for $51.43M and had also sold 1,560,254 shares on Dec. 15 and 18,857 on Nov. 24 — totaling ~2.52M shares and roughly $141.9M in proceeds.
- RKLB trades in the mid‑$50s (opened $55.49) with a 50‑day MA of $54.74 and a market cap of ~$29.6B; the company reported revenue up 48% year‑over‑year but negative EPS and carries a consensus analyst rating of Moderate Buy with a $58.17 target.
Rocket Lab Corporation (NASDAQ:RKLB - Get Free Report) Director Merline Saintil sold 15,000 shares of the stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $65.00, for a total transaction of $975,000.00. Following the completion of the transaction, the director directly owned 398,529 shares of the company's stock, valued at $25,904,385. This trade represents a 3.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Merline Saintil also recently made the following trade(s):
- On Thursday, December 4th, Merline Saintil sold 10,000 shares of Rocket Lab stock. The shares were sold at an average price of $48.00, for a total transaction of $480,000.00.
Rocket Lab Price Performance
RKLB stock opened at $55.49 on Wednesday. The stock has a market cap of $29.64 billion, a price-to-earnings ratio of -146.03 and a beta of 2.20. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.18 and a quick ratio of 2.83. The company has a 50 day simple moving average of $54.74 and a 200 day simple moving average of $46.60. Rocket Lab Corporation has a 1 year low of $14.71 and a 1 year high of $73.97.
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, topping analysts' consensus estimates of ($0.05) by $0.02. The firm had revenue of $155.08 million for the quarter, compared to analysts' expectations of $152.45 million. Rocket Lab had a negative net margin of 35.64% and a negative return on equity of 27.26%. The company's revenue was up 48.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.10) earnings per share. Research analysts anticipate that Rocket Lab Corporation will post -0.38 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on RKLB. Bank of America upped their target price on Rocket Lab from $50.00 to $60.00 and gave the stock a "buy" rating in a report on Wednesday, November 19th. Stifel Nicolaus reaffirmed a "buy" rating and issued a $75.00 price objective (up previously from $65.00) on shares of Rocket Lab in a research note on Tuesday, November 11th. Baird R W upgraded shares of Rocket Lab to a "strong-buy" rating in a research report on Thursday, October 16th. Wall Street Zen lowered shares of Rocket Lab from a "hold" rating to a "sell" rating in a report on Saturday. Finally, KeyCorp upped their price target on shares of Rocket Lab from $50.00 to $75.00 and gave the company an "overweight" rating in a research report on Friday, October 17th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Rocket Lab currently has a consensus rating of "Moderate Buy" and an average price target of $58.17.
Check Out Our Latest Research Report on RKLB
Institutional Trading of Rocket Lab
Several institutional investors have recently added to or reduced their stakes in the stock. Keel Point LLC raised its holdings in Rocket Lab by 0.4% during the 3rd quarter. Keel Point LLC now owns 51,428 shares of the rocket manufacturer's stock worth $2,464,000 after purchasing an additional 226 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of Rocket Lab by 30.8% in the 3rd quarter. IFP Advisors Inc now owns 2,995 shares of the rocket manufacturer's stock valued at $143,000 after purchasing an additional 705 shares during the last quarter. Swiss Life Asset Management Ltd increased its position in shares of Rocket Lab by 480.9% during the third quarter. Swiss Life Asset Management Ltd now owns 58,426 shares of the rocket manufacturer's stock worth $2,799,000 after buying an additional 48,369 shares during the period. CIBC Private Wealth Group LLC raised its stake in Rocket Lab by 28.2% during the third quarter. CIBC Private Wealth Group LLC now owns 7,948 shares of the rocket manufacturer's stock worth $381,000 after buying an additional 1,747 shares during the last quarter. Finally, CIBC Bancorp USA Inc. acquired a new position in Rocket Lab in the third quarter valued at $741,000. 71.78% of the stock is currently owned by institutional investors.
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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