Key Points
- Rocket Lab SVP Arjun Kampani sold 88,000 shares on June 18 at an average price of $107.98, totaling about $9.5 million. After the sale, he still held 264,705 shares, and the filing showed a nearly 25% reduction in his ownership.
- The company has seen several recent insider sales from Kampani, including transactions in late May at higher prices ranging from about $142.57 to $147.43 per share.
- Rocket Lab remains in focus for investors as it is set to join the Nasdaq-100 on June 22, recently passed a key Space Development Agency review, and reported record first-quarter revenue of about $200 million with a $2.2 billion backlog.
Rocket Lab Corporation (NASDAQ:RKLB - Get Free Report) SVP Arjun Kampani sold 88,000 shares of the firm's stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $107.98, for a total value of $9,502,240.00. Following the completion of the sale, the senior vice president directly owned 264,705 shares in the company, valued at $28,582,845.90. The trade was a 24.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Arjun Kampani also recently made the following trade(s):
- On Thursday, May 28th, Arjun Kampani sold 23,804 shares of Rocket Lab stock. The shares were sold at an average price of $147.43, for a total value of $3,509,423.72.
- On Wednesday, May 27th, Arjun Kampani sold 70,000 shares of Rocket Lab stock. The stock was sold at an average price of $145.13, for a total value of $10,159,100.00.
- On Tuesday, May 26th, Arjun Kampani sold 28,668 shares of Rocket Lab stock. The stock was sold at an average price of $142.57, for a total value of $4,087,196.76.
Rocket Lab Price Performance
RKLB opened at $107.24 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.02 and a current ratio of 4.47. The stock has a market capitalization of $62.07 billion, a PE ratio of -335.12 and a beta of 2.49. The stock's 50 day moving average price is $104.82 and its 200-day moving average price is $83.14. Rocket Lab Corporation has a 52-week low of $27.84 and a 52-week high of $151.00.
Rocket Lab (NASDAQ:RKLB - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The rocket manufacturer reported ($0.07) EPS for the quarter, hitting analysts' consensus estimates of ($0.07). The company had revenue of $200.35 million during the quarter, compared to analyst estimates of $189.65 million. Rocket Lab had a negative return on equity of 11.72% and a negative net margin of 26.87%.The firm's revenue was up 63.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.12) earnings per share. On average, equities research analysts predict that Rocket Lab Corporation will post -0.29 EPS for the current year.
Institutional Trading of Rocket Lab
Large investors have recently added to or reduced their stakes in the business. Aventura Private Wealth LLC purchased a new stake in Rocket Lab during the fourth quarter valued at approximately $25,000. Mcguire Capital Advisors Inc. purchased a new position in shares of Rocket Lab during the 4th quarter worth $27,000. Zions Bancorporation National Association UT bought a new stake in shares of Rocket Lab during the 4th quarter valued at $28,000. Gordian Capital Singapore Pte Ltd purchased a new stake in shares of Rocket Lab in the 4th quarter worth $29,000. Finally, Reflection Asset Management purchased a new stake in shares of Rocket Lab in the 4th quarter worth $30,000. 71.78% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of equities analysts recently issued reports on the stock. New Street Research initiated coverage on shares of Rocket Lab in a research note on Wednesday, May 13th. They issued a "buy" rating and a $150.00 price target for the company. Clear Str upgraded Rocket Lab to a "strong-buy" rating in a report on Wednesday, March 18th. Wells Fargo & Company initiated coverage on shares of Rocket Lab in a research note on Wednesday, April 1st. They issued an "equal weight" rating and a $60.00 price target on the stock. Needham & Company LLC increased their price objective on shares of Rocket Lab from $95.00 to $120.00 and gave the company a "buy" rating in a research report on Monday, May 11th. Finally, Roth Mkm raised their price objective on shares of Rocket Lab from $90.00 to $100.00 and gave the company a "buy" rating in a research note on Friday, April 17th. Three research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $102.76.
Check Out Our Latest Report on RKLB
Key Headlines Impacting Rocket Lab
Here are the key news stories impacting Rocket Lab this week:
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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