Rocket Lab (NASDAQ:RKLB) Director Sells $4,944,000.00 in Stock

Rocket Lab Corporation (NASDAQ:RKLB) Director Alexander Slusky sold 40,000 shares of Rocket Lab stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $123.60, for a total value of $4,944,000.00. Following the sale, the director directly owned 334,675 shares of the company’s stock, valued at approximately $41,365,830. The trade was a 10.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Rocket Lab Stock Performance

Shares of RKLB stock opened at $110.08 on Monday. Rocket Lab Corporation has a fifty-two week low of $25.24 and a fifty-two week high of $151.00. The stock’s 50-day moving average is $97.02 and its two-hundred day moving average is $78.94. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.47 and a quick ratio of 4.02. The firm has a market cap of $63.71 billion, a P/E ratio of -344.00 and a beta of 2.48.

Rocket Lab (NASDAQ:RKLB) last announced its quarterly earnings results on Thursday, May 7th. The rocket manufacturer reported ($0.07) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.07). The business 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 period in the previous year, the company earned ($0.12) EPS. Analysts predict that Rocket Lab Corporation will post -0.29 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

RKLB has been the topic of a number of recent research reports. Roth Mkm raised their price target on shares of Rocket Lab from $90.00 to $100.00 and gave the company a “buy” rating in a report on Friday, April 17th. Clear Str upgraded Rocket Lab to a “strong-buy” rating in a report on Wednesday, March 18th. BTIG Research reiterated a “hold” rating on shares of Rocket Lab in a research note on Tuesday, May 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Rocket Lab in a research note on Tuesday, April 21st. Finally, New Street Research began coverage on Rocket Lab in a research report on Wednesday, May 13th. They set a “buy” rating and a $150.00 target price for the company. Three investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $98.88.

Institutional Investors Weigh In On Rocket Lab

A number of institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its holdings in Rocket Lab by 114.0% in the 1st quarter. AQR Capital Management LLC now owns 174,308 shares of the rocket manufacturer’s stock valued at $3,117,000 after acquiring an additional 92,849 shares in the last quarter. NewEdge Advisors LLC grew its holdings in shares of Rocket Lab by 1,812.1% during 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 in the last quarter. Jones Financial Companies Lllp increased its position in shares of Rocket Lab by 53.8% during the first quarter. Jones Financial Companies Lllp now owns 15,745 shares of the rocket manufacturer’s stock valued at $282,000 after purchasing an additional 5,507 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Rocket Lab by 13.3% during 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 valued at $13,831,000 after purchasing an additional 90,758 shares during the period. Finally, Focus Partners Wealth raised its stake 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 valued at $1,206,000 after purchasing an additional 681 shares in the last quarter. 71.78% of the stock is owned by institutional investors and hedge funds.

More Rocket Lab News

Here are the key news stories impacting Rocket Lab this week:

• Positive Sentiment: Wall Street sentiment improved after Stifel raised its price target on Rocket Lab to a Street-high $132 from $110 and kept a Buy rating, reinforcing the view that growth can continue. Rocket Lab Stock (RKLB) Lands a New Street-High Target as Top Stifel Analyst Sees Stronger Growth Ahead
• Positive Sentiment: Recent coverage continues to highlight Rocket Lab’s strong operating momentum, including its first-ever $200 million revenue quarter, 63%+ year-over-year revenue growth, expanding gross margin, and a backlog that reached $2.2 billion. Rocket Lab: Don’t Hold Your Breath On Neutron
• Positive Sentiment: The broader space sector is getting a lift from SpaceX IPO excitement, and Rocket Lab is being viewed as a public-market way to play the space race, which has helped sentiment across RKLB and other space stocks. There’s More to Space Stocks Than SpaceX
• Neutral Sentiment: Some analysts and commentators are warning that the stock’s big rally may have outrun fundamentals, pointing to valuation risk and possible volatility if expectations become harder to beat. We’re Holding Rocket Lab Despite 356% Rally
• Negative Sentiment: Bearish pieces argue investors should be cautious ahead of a possible SpaceX IPO “reality check,” with concerns that competition and sky-high expectations could eventually pressure RKLB’s multiple. Rocket Lab: Sell Before The SpaceX IPO Reality Check

Rocket Lab Company Profile

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.