Key Points
- Director Merline Saintil sold 18,126 shares on March 6 at an average of $75.04 (~$1.36M), reducing her stake by 6.47% to 261,903 shares after a series of prior large December–January sales (including 96,000 shares on Jan 13).
- Despite the insider selling, Rocket Lab (RKLB) has a $38.18B market cap and a consensus analyst rating of "Moderate Buy" with a $75.92 price target, though analyst views are mixed (e.g., Bank of America raised its target to $120 while others remain neutral or hold).
Rocket Lab Corporation (NASDAQ:RKLB - Get Free Report) Director Merline Saintil sold 18,126 shares of the firm's stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $75.04, for a total value of $1,360,175.04. Following the completion of the transaction, the director directly owned 261,903 shares in the company, valued at $19,653,201.12. The trade was a 6.47% decrease in their ownership of the stock. The sale 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 Wednesday, January 14th, Merline Saintil sold 12,500 shares of Rocket Lab stock. The shares were sold at an average price of $90.00, for a total transaction of $1,125,000.00.
- On Tuesday, January 13th, Merline Saintil sold 96,000 shares of Rocket Lab stock. The stock was sold at an average price of $86.58, for a total transaction of $8,311,680.00.
- On Friday, December 19th, Merline Saintil sold 5,000 shares of Rocket Lab stock. The stock was sold at an average price of $65.00, for a total transaction of $325,000.00.
- On Wednesday, December 17th, Merline Saintil sold 5,000 shares of Rocket Lab stock. The shares were sold at an average price of $54.46, for a total transaction of $272,300.00.
- On Friday, December 12th, Merline Saintil sold 15,000 shares of Rocket Lab stock. The shares were sold at an average price of $65.00, for a total transaction of $975,000.00.
Rocket Lab Stock Up 2.0%
Shares of RKLB stock opened at $71.48 on Tuesday. The company has a current ratio of 4.08, a quick ratio of 3.61 and a debt-to-equity ratio of 0.10. Rocket Lab Corporation has a 12 month low of $14.71 and a 12 month high of $99.58. The stock has a market cap of $38.18 billion, a P/E ratio of -193.18 and a beta of 2.20. The company has a 50 day simple moving average of $77.63 and a two-hundred day simple moving average of $62.44.
Institutional Trading of Rocket Lab
Hedge funds have recently modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new position in shares of Rocket Lab in the third quarter valued at $25,000. Hara Capital LLC purchased a new stake in Rocket Lab during the third quarter valued at $25,000. Aventura Private Wealth LLC bought a new position in Rocket Lab during the fourth quarter valued at $25,000. UMB Bank n.a. grew its stake in shares of Rocket Lab by 352.5% in the 3rd quarter. UMB Bank n.a. now owns 543 shares of the rocket manufacturer's stock worth $26,000 after buying an additional 423 shares in the last quarter. Finally, Sound Income Strategies LLC purchased a new position in shares of Rocket Lab in the 3rd quarter worth $27,000. 71.78% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
RKLB has been the topic of several analyst reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Rocket Lab in a research report on Thursday, January 22nd. Zacks Research cut Rocket Lab from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 10th. Citizens Jmp reaffirmed a "market perform" rating on shares of Rocket Lab in a research note on Friday, February 27th. Bank of America lifted their price objective on Rocket Lab from $60.00 to $120.00 and gave the company a "buy" rating in a research report on Tuesday, January 20th. Finally, The Goldman Sachs Group boosted their price objective on Rocket Lab from $47.00 to $69.00 and gave the company a "neutral" rating in a research note on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $75.92.
Read Our Latest Analysis 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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