Key Points
- Rocket Lab director Alexander Slusky sold 100,000 shares on May 12 at an average price of $118.08, reducing his ownership by 18.7% and generating $11.8 million in proceeds.
- The company recently reported quarterly earnings of -$0.07 per share, matching expectations, while revenue rose 63.4% year over year to $200.35 million and topped analyst estimates.
- Analysts remain broadly positive on RKLB, with several firms raising price targets and the consensus view sitting at Moderate Buy with a $97.19 target, even as the stock has surged to near its 52-week high.
Rocket Lab Corporation (NASDAQ:RKLB - Get Free Report) Director Alexander Slusky sold 100,000 shares of the stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $118.08, for a total value of $11,808,000.00. Following the completion of the sale, the director directly owned 434,675 shares of the company's stock, valued at $51,326,424. The trade was a 18.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
Rocket Lab Price Performance
RKLB stock opened at $132.55 on Friday. The company has a market capitalization of $75.48 billion, a P/E ratio of -414.22 and a beta of 2.30. Rocket Lab Corporation has a twelve month low of $22.77 and a twelve month high of $133.18. The business has a 50 day simple moving average of $77.75 and a 200-day simple moving average of $70.44. The company has a current ratio of 4.47, a quick ratio of 4.02 and a debt-to-equity ratio of 0.02.
Rocket Lab (NASDAQ:RKLB - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The rocket manufacturer reported ($0.07) earnings per share for the quarter, meeting the consensus estimate of ($0.07). The business had revenue of $200.35 million during the quarter, compared to the consensus estimate of $189.65 million. Rocket Lab had a negative return on equity of 11.72% and a negative net margin of 26.87%.The company's revenue was up 63.4% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.12) earnings per share. As a group, equities analysts anticipate that Rocket Lab Corporation will post -0.22 EPS for the current year.
Wall Street Analysts Forecast Growth
Several equities research analysts recently weighed in on RKLB shares. TD Cowen increased their price target on Rocket Lab from $90.00 to $120.00 and gave the stock a "buy" rating in a report on Friday, May 8th. Wells Fargo & Company started coverage on Rocket Lab in a report on Wednesday, April 1st. They set an "equal weight" rating and a $60.00 price target for the company. Wall Street Zen raised Rocket Lab from a "sell" rating to a "hold" rating in a report on Sunday, February 8th. Citizens Jmp increased their price target on Rocket Lab from $85.00 to $95.00 and gave the stock a "market outperform" rating in a report on Friday, May 8th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Rocket Lab in a report on Tuesday, April 21st. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $97.19.
View Our Latest Stock Analysis on RKLB
Rocket Lab News Roundup
Here are the key news stories impacting Rocket Lab this week:
Institutional Investors Weigh In On Rocket Lab
Several hedge funds have recently modified their holdings of RKLB. Wilmington Savings Fund Society FSB purchased a new position in Rocket Lab in the third quarter worth $25,000. Hara Capital LLC purchased a new position in Rocket Lab in the third quarter worth $25,000. Aventura Private Wealth LLC purchased a new position in Rocket Lab in the fourth quarter worth $25,000. UMB Bank n.a. raised 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 worth $26,000 after acquiring an additional 423 shares in the last quarter. Finally, Mcguire Capital Advisors Inc. purchased a new position in Rocket Lab in the fourth quarter worth $27,000. 71.78% of the stock is owned by institutional investors and hedge funds.
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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