Peter Beck Sells 1,560,254 Shares of Rocket Lab (NASDAQ:RKLB) Stock

Rocket Lab Corporation (NASDAQ:RKLB) CEO Peter Beck sold 1,560,254 shares of Rocket Lab stock in a transaction on Monday, December 15th. The shares were sold at an average price of $57.47, for a total value of $89,667,797.38. Following the sale, the chief executive officer directly owned 939,746 shares of the company’s stock, valued at $54,007,202.62. This represents a 62.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Peter Beck also recently made the following trade(s):

• On Tuesday, December 16th, Peter Beck sold 939,746 shares of Rocket Lab stock. The shares were sold at an average price of $54.73, for a total value of $51,432,298.58.
• On Monday, November 24th, Peter Beck sold 18,857 shares of Rocket Lab stock. The stock was sold at an average price of $40.65, for a total value of $766,537.05.

Rocket Lab Trading Down 2.8%

Shares of RKLB opened at $53.96 on Thursday. Rocket Lab Corporation has a 1-year low of $14.71 and a 1-year high of $73.97. The company has a market capitalization of $28.82 billion, a P/E ratio of -142.00 and a beta of 2.20. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.18 and a quick ratio of 2.83. The firm’s 50 day simple moving average is $54.51 and its 200 day simple moving average is $46.65.

Rocket Lab (NASDAQ:RKLB) last issued its quarterly earnings results on Monday, November 10th. The rocket manufacturer reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. Rocket Lab had a negative net margin of 35.64% and a negative return on equity of 27.26%. The firm had revenue of $155.08 million for the quarter, compared to analyst estimates of $152.45 million. During the same quarter in the prior year, the firm earned ($0.10) EPS. The business’s revenue for the quarter was up 48.0% compared to the same quarter last year. Sell-side analysts forecast that Rocket Lab Corporation will post -0.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rocket Lab

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new position in shares of Rocket Lab in the third quarter valued at about $25,000. Hara Capital LLC purchased a new position in Rocket Lab during the 3rd quarter valued at about $25,000. UMB Bank n.a. raised its position in Rocket Lab by 352.5% during the 3rd quarter. UMB Bank n.a. now owns 543 shares of the rocket manufacturer’s stock valued at $26,000 after purchasing an additional 423 shares during the last quarter. Sound Income Strategies LLC purchased a new stake in Rocket Lab in the 3rd quarter worth approximately $27,000. Finally, Financial Consulate Inc. bought a new stake in shares of Rocket Lab in the 3rd quarter worth approximately $35,000. 71.78% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Robert W. Baird assumed coverage on Rocket Lab in a research note on Wednesday, October 15th. They set an “outperform” rating and a $83.00 price target for the company. Stifel Nicolaus reissued a “buy” rating and set a $75.00 price objective (up from $65.00) on shares of Rocket Lab in a report on Tuesday, November 11th. Roth Capital restated a “buy” rating and issued a $75.00 target price on shares of Rocket Lab in a research report on Tuesday, November 11th. Citigroup reiterated a “market perform” rating on shares of Rocket Lab in a research report on Wednesday, November 12th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Rocket Lab in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Rocket Lab has a consensus rating of “Moderate Buy” and an average target price of $58.17.

Rocket Lab Company Profile

Rocket Lab USA, Inc, a space company, provides launch services and space systems solutions for the space and defense industries. The company provides launch services, spacecraft design services, spacecraft components, spacecraft manufacturing, and other spacecraft and on-orbit management solutions; and constellation management services, as well as designs and manufactures small and medium-class rockets.