Peter Beck Sells 939,746 Shares of Rocket Lab (NASDAQ:RKLB) Stock

Rocket Lab Corporation (NASDAQ:RKLB) CEO Peter Beck sold 939,746 shares of the company’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $54.73, for a total value of $51,432,298.58. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Monday, December 15th, Peter Beck sold 1,560,254 shares of Rocket Lab stock. The shares were sold at an average price of $57.47, for a total value of $89,667,797.38.
• 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 Stock Performance

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

Rocket Lab (NASDAQ:RKLB) last posted its 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 during the quarter, compared to analysts’ expectations of $152.45 million. During the same quarter in the prior year, the business earned ($0.10) earnings per share. The business’s revenue for the quarter was up 48.0% compared to the same quarter last year. On average, analysts anticipate that Rocket Lab Corporation will post -0.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

RKLB has been the topic of a number of research analyst reports. Stifel Nicolaus restated a “buy” rating and issued a $75.00 target price (up previously from $65.00) on shares of Rocket Lab in a research report on Tuesday, November 11th. Needham & Company LLC reiterated a “buy” rating and issued a $63.00 price target on shares of Rocket Lab in a research note on Tuesday, November 25th. KeyCorp boosted their price objective on Rocket Lab from $50.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. Citigroup reaffirmed a “market perform” rating on shares of Rocket Lab in a report on Wednesday, November 12th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Rocket Lab in a research note on Wednesday, December 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $58.17.

Institutional Investors Weigh In On Rocket Lab

Several institutional investors and hedge funds have recently made changes to their positions in RKLB. Baillie Gifford & Co. increased its position in shares of Rocket Lab by 176.1% during the third quarter. Baillie Gifford & Co. now owns 12,125,910 shares of the rocket manufacturer’s stock worth $580,952,000 after buying an additional 7,734,788 shares during the period. Kingstone Capital Partners Texas LLC acquired a new position in Rocket Lab in the second quarter valued at $192,918,000. Norges Bank bought a new stake in Rocket Lab during the second quarter valued at $164,751,000. Invesco Ltd. grew its holdings in Rocket Lab by 67.0% during the 2nd quarter. Invesco Ltd. now owns 6,242,304 shares of the rocket manufacturer’s stock worth $223,287,000 after acquiring an additional 2,504,054 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Rocket Lab by 5.4% in the 3rd quarter. Vanguard Group Inc. now owns 41,809,723 shares of the rocket manufacturer’s stock worth $2,003,104,000 after acquiring an additional 2,127,565 shares in the last quarter. Institutional investors and hedge funds own 71.78% of the company’s stock.

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.