Key Points
- Director Merline Saintil sold 5,000 Rocket Lab shares on Dec. 17 at an average of $54.46 for $272,300 and, combined with earlier Dec. sales of 25,000 shares, has sold 30,000 shares for about $1.73 million, leaving her with 393,529 shares valued at roughly $21.43 million.
- Rocket Lab shares opened at $59.92 and were trading up ~11%, after the company reported a 48% year-over-year revenue increase and an EPS beat for the quarter; analysts hold a consensus "Moderate Buy" rating with a $58.17 price target.
Rocket Lab Corporation (NASDAQ:RKLB - Get Free Report) Director Merline Saintil sold 5,000 shares of the business's stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $54.46, for a total transaction of $272,300.00. Following the completion of the sale, the director directly owned 393,529 shares of the company's stock, valued at $21,431,589.34. The trade was a 1.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Merline Saintil also recently made the following trade(s):
- On Friday, December 12th, Merline Saintil sold 15,000 shares of Rocket Lab stock. The stock was sold at an average price of $65.00, for a total transaction of $975,000.00.
- 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 value of $480,000.00.
Rocket Lab Trading Up 11.0%
Shares of NASDAQ RKLB opened at $59.92 on Friday. The company has a quick ratio of 2.83, a current ratio of 3.18 and a debt-to-equity ratio of 0.32. The stock's 50 day moving average price is $54.38 and its two-hundred day moving average price is $46.74. Rocket Lab Corporation has a 52-week low of $14.71 and a 52-week high of $73.97. The stock has a market capitalization of $32.01 billion, a P/E ratio of -157.68 and a beta of 2.20.
Rocket Lab (NASDAQ:RKLB - Get Free Report) last issued its quarterly 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. The business had revenue of $155.08 million during the quarter, compared to the consensus estimate of $152.45 million. Rocket Lab had a negative return on equity of 27.26% and a negative net margin of 35.64%.The business's quarterly revenue was up 48.0% on a year-over-year basis. During the same period in the previous year, the business earned ($0.10) EPS. On average, analysts anticipate that Rocket Lab Corporation will post -0.38 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
RKLB has been the topic of a number of research reports. Cantor Fitzgerald reissued an "overweight" rating on shares of Rocket Lab in a report on Wednesday, December 3rd. Robert W. Baird assumed coverage on shares of Rocket Lab in a research note on Wednesday, October 15th. They set an "outperform" rating and a $83.00 price objective on the stock. Bank of America lifted their target price on Rocket Lab from $50.00 to $60.00 and gave the company a "buy" rating in a research note on Wednesday, November 19th. Baird R W upgraded Rocket Lab to a "strong-buy" rating in a research report on Thursday, October 16th. Finally, Wall Street Zen downgraded Rocket Lab from a "hold" rating to a "sell" rating in a report on Saturday, December 13th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $58.17.
Check Out Our Latest Analysis on RKLB
Hedge Funds Weigh In On Rocket Lab
Several hedge funds have recently made changes to their positions in RKLB. Wilmington Savings Fund Society FSB bought a new stake in Rocket Lab during the third quarter worth approximately $25,000. Hara Capital LLC purchased a new stake in Rocket Lab in the 3rd quarter worth about $25,000. UMB Bank n.a. boosted its position in Rocket Lab by 352.5% during the 3rd quarter. UMB Bank n.a. now owns 543 shares of the rocket manufacturer's stock worth $26,000 after acquiring an additional 423 shares during the period. Sound Income Strategies LLC purchased a new position in Rocket Lab during the 3rd quarter valued at about $27,000. Finally, Financial Consulate Inc. acquired a new position in shares of Rocket Lab in the 3rd quarter valued at about $35,000. Institutional investors and hedge funds own 71.78% of the company's stock.
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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