Rocket Lab (NASDAQ:RKLB) CEO Sells 990,960 Shares

Rocket Lab Corporation (NASDAQ:RKLB) 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 completion of the transaction, the chief executive officer directly owned 1,724,221 shares of the company’s stock, valued at approximately $142,868,952.06. The trade was a 36.50% decrease in their position. The transaction was disclosed in a document filed 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 shares were sold at an average price of $84.92, for a total transaction 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 transaction of $94,014,160.01.

Rocket Lab Stock Down 0.1%

Rocket Lab stock traded down $0.06 during mid-day trading on Wednesday, reaching $83.35. 19,100,978 shares of the company’s stock were exchanged, compared to its average volume of 28,141,436. The company has a quick ratio of 4.02, a current ratio of 4.47 and a debt-to-equity ratio of 0.02. Rocket Lab Corporation has a twelve month low of $37.57 and a twelve month high of $151.00. The company has a market cap of $48.24 billion, a P/E ratio of -260.47 and a beta of 2.54. The company has a fifty day moving average of $109.08 and a 200-day moving average of $87.19.

Rocket Lab (NASDAQ:RKLB) last posted its quarterly earnings results on Thursday, May 7th. The rocket manufacturer reported ($0.07) EPS for the quarter, hitting the consensus estimate of ($0.07). Rocket Lab had a negative net margin of 26.87% and a negative return on equity of 11.72%. The business had revenue of $200.35 million during the quarter, compared to the consensus estimate of $189.65 million. During the same quarter in the previous year, the firm posted ($0.12) earnings per share. The company’s quarterly revenue was up 63.4% compared to the same quarter last year. Sell-side analysts expect that Rocket Lab Corporation will post -0.29 EPS for the current year.

Hedge Funds Weigh In On Rocket Lab

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RKLB. Versant Capital Management Inc raised its stake in Rocket Lab by 5.1% during the 2nd quarter. Versant Capital Management Inc now owns 2,049 shares of the rocket manufacturer’s stock valued at $208,000 after acquiring an additional 100 shares during the last quarter. Sara Bay Financial grew its stake in shares of Rocket Lab by 0.7% in the 4th quarter. Sara Bay Financial now owns 15,905 shares of the rocket manufacturer’s stock valued at $1,121,000 after purchasing an additional 117 shares during the last quarter. ORG Partners LLC increased its holdings in shares of Rocket Lab by 9.1% in the fourth quarter. ORG Partners LLC now owns 1,458 shares of the rocket manufacturer’s stock valued at $102,000 after purchasing an additional 121 shares during the period. Bartlett & CO. Wealth Management LLC increased its holdings in shares of Rocket Lab by 7.1% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 1,869 shares of the rocket manufacturer’s stock valued at $120,000 after purchasing an additional 124 shares during the period. Finally, Sovereign Financial Group Inc. raised its stake in shares of Rocket Lab by 3.9% during the first quarter. Sovereign Financial Group Inc. now owns 3,320 shares of the rocket manufacturer’s stock worth $213,000 after purchasing an additional 125 shares during the last quarter. 71.78% of the stock is owned by institutional investors and hedge funds.

Rocket Lab News Summary

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

• Positive Sentiment: Rocket Lab reported mission success for the U.S. Space Force’s VICTUS HAZE program, completing a record-fast responsive launch and complex on-orbit operations ahead of schedule. The result reinforces RKLB’s credibility in national security space and shows it can deliver integrated launch-plus-spacecraft services. Rocket Lab Delivers Mission Success for Space Force: Completes Historic Launch and On-Orbit Satellite Tracking Mission in Record Time
• Positive Sentiment: Several analysts have stayed bullish, with recent price targets around $115 to $135 and one bullish case as high as $293, reflecting confidence in Rocket Lab’s long-term growth story and contract backlog. Rocket Lab Bull-Case Target Set at $293 by Morgan Stanley
• Neutral Sentiment: Commentary around a possible $8 billion Iridium transaction suggests Rocket Lab is trying to become a broader space infrastructure platform, which could improve its strategic position but also raises execution and integration questions. Rocket Lab’s Mega Iridium Deal Kicks off Space Industry Consolidation
• Negative Sentiment: Rocket Lab has been swept up in a broader selloff across space stocks, with traders rotating out of high-beta names and questioning whether the recent rally got ahead of fundamentals. Rocket Lab Stock Falls Tuesday: What’s Driving the Weakness?
• Negative Sentiment: Investor sentiment is also being pressured by reports of heavy insider selling, including CEO Peter Beck’s planned stake reduction, which can signal caution around the stock’s near-term valuation. Rocket Lab (RKLB) Falls Hard — Its CEO May Hold the Answer

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. TD Cowen lifted their price objective on Rocket Lab from $90.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, May 8th. BTIG Research restated a “hold” rating on shares of Rocket Lab in a research note on Tuesday, May 12th. Needham & Company LLC reiterated a “buy” rating and issued a $120.00 price target on shares of Rocket Lab in a research note on Tuesday, June 30th. Stifel Nicolaus set a $132.00 price target on shares of Rocket Lab in a report on Thursday, June 4th. Finally, Wells Fargo & Company initiated coverage on shares of Rocket Lab in a research report on Wednesday, April 1st. They issued an “equal weight” rating and a $60.00 price objective on the stock. Three investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Rocket Lab presently has a consensus rating of “Moderate Buy” and an average price target of $108.24.

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.