Rocket Lab Corporation (NASDAQ:RKLB - Get Free Report) CEO Peter Beck sold 990,960 shares of the firm's stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $82.86, for a total transaction of $82,110,945.60. Following the transaction, the chief executive officer directly owned 1,724,221 shares of the company's stock, valued at $142,868,952.06. This represents a 36.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Peter Beck also recently made the following trade(s):
- On Tuesday, July 7th, Peter Beck sold 1,298,622 shares of Rocket Lab stock. The stock was sold at an average price of $84.92, for a total value of $110,278,980.24.
- On Monday, July 6th, Peter Beck sold 986,197 shares of Rocket Lab stock. The stock was sold at an average price of $95.33, for a total value of $94,014,160.01.
Rocket Lab Stock Performance
Rocket Lab stock opened at $83.35 on Thursday. Rocket Lab Corporation has a twelve month low of $37.57 and a twelve month high of $151.00. The company has a quick ratio of 4.02, a current ratio of 4.47 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $48.24 billion, a P/E ratio of -260.47 and a beta of 2.54. The stock's 50 day moving average is $109.08 and its 200 day moving average is $87.19.
Rocket Lab (NASDAQ:RKLB - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The rocket manufacturer reported ($0.07) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.07). Rocket Lab had a negative return on equity of 11.72% and a negative net margin of 26.87%.The business had revenue of $200.35 million during the quarter, compared to analysts' expectations of $189.65 million. During the same quarter in the previous year, the business earned ($0.12) earnings per share. The firm's quarterly revenue was up 63.4% compared to the same quarter last year. On average, equities research analysts predict that Rocket Lab Corporation will post -0.29 earnings per share for the current fiscal year.
Key Stories Impacting Rocket Lab
Here are the key news stories impacting Rocket Lab this week:
Wall Street Analysts Forecast Growth
RKLB has been the subject of several recent analyst reports. Clear Str upgraded Rocket Lab to a "strong-buy" rating in a research note on Wednesday, March 18th. Craig Hallum boosted their price objective on shares of Rocket Lab from $98.00 to $120.00 and gave the company a "buy" rating in a report on Monday, June 29th. KGI Securities began coverage on shares of Rocket Lab in a research report on Thursday, June 11th. They set a "neutral" rating and a $105.00 price objective on the stock. Citizens Jmp raised their target price on shares of Rocket Lab from $95.00 to $130.00 and gave the stock a "market outperform" rating in a report on Tuesday, June 30th. Finally, TD Cowen lifted their target price on shares of Rocket Lab from $90.00 to $120.00 and gave the stock a "buy" rating in a research report on Friday, May 8th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $108.24.
Get Our Latest Stock Report on Rocket Lab
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC grew its stake in shares of Rocket Lab by 114.0% during the 1st quarter. AQR Capital Management LLC now owns 174,308 shares of the rocket manufacturer's stock valued at $3,117,000 after purchasing an additional 92,849 shares during the period. NewEdge Advisors LLC lifted its stake in shares of Rocket Lab by 1,812.1% in the 1st quarter. NewEdge Advisors LLC now owns 36,807 shares of the rocket manufacturer's stock worth $658,000 after purchasing an additional 34,882 shares during the period. Jones Financial Companies Lllp lifted its stake in shares of Rocket Lab by 53.8% in the 1st quarter. Jones Financial Companies Lllp now owns 15,745 shares of the rocket manufacturer's stock worth $282,000 after purchasing an additional 5,507 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Rocket Lab by 13.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 773,548 shares of the rocket manufacturer's stock worth $13,831,000 after buying an additional 90,758 shares during the last quarter. Finally, Focus Partners Wealth boosted its holdings in shares of Rocket Lab by 1.0% in the first quarter. Focus Partners Wealth now owns 67,584 shares of the rocket manufacturer's stock worth $1,206,000 after buying an additional 681 shares during the last quarter. 71.78% of the stock is owned by hedge funds and other institutional investors.
About Rocket Lab
(
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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