Insider Selling: Rocket Lab (NASDAQ:RKLB) Director Sells $975,000.00 in Stock

Rocket Lab Corporation (NASDAQ:RKLB) Director Merline Saintil sold 15,000 shares of the company’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $65.00, for a total transaction of $975,000.00. Following the completion of the sale, the director directly owned 398,529 shares in the company, valued at $25,904,385. This represents a 3.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Merline Saintil also recently made the following trade(s):

• On Wednesday, December 17th, Merline Saintil sold 5,000 shares of Rocket Lab stock. The stock was sold at an average price of $54.46, for a total transaction of $272,300.00.
• On Thursday, December 4th, Merline Saintil sold 10,000 shares of Rocket Lab stock. The shares were sold at an average price of $48.00, for a total transaction of $480,000.00.

Rocket Lab Stock Performance

Shares of RKLB stock opened at $59.92 on Friday. The stock has a market capitalization of $32.01 billion, a price-to-earnings ratio of -157.68 and a beta of 2.20. Rocket Lab Corporation has a one year low of $14.71 and a one year high of $73.97. The company’s 50-day simple moving average is $54.38 and its 200-day simple moving average is $46.74. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.83 and a current ratio of 3.18.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on RKLB shares. Robert W. Baird began coverage on shares of Rocket Lab in a report on Wednesday, October 15th. They issued an “outperform” rating and a $83.00 price objective for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $63.00 price target on shares of Rocket Lab in a report on Tuesday, November 25th. Citigroup reaffirmed a “market perform” rating on shares of Rocket Lab in a research report on Wednesday, November 12th. Morgan Stanley cut their target price on shares of Rocket Lab from $68.00 to $67.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 12th. Finally, Bank of America upped their target price on Rocket Lab from $50.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, November 19th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned 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 a consensus target price of $58.17.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of RKLB. National Bank of Canada FI raised its holdings in shares of Rocket Lab by 39.8% during the first quarter. National Bank of Canada FI now owns 3,118 shares of the rocket manufacturer’s stock valued at $56,000 after buying an additional 887 shares during the last quarter. Nuveen LLC acquired a new stake in Rocket Lab in the 1st quarter valued at approximately $23,964,000. Russell Investments Group Ltd. raised its stake in Rocket Lab by 4,904.6% during the 1st quarter. Russell Investments Group Ltd. now owns 19,668 shares of the rocket manufacturer’s stock valued at $352,000 after acquiring an additional 19,275 shares in the last quarter. Ethic Inc. boosted its position in Rocket Lab by 4.4% during the 1st quarter. Ethic Inc. now owns 33,473 shares of the rocket manufacturer’s stock worth $608,000 after acquiring an additional 1,422 shares during the period. Finally, Cresset Asset Management LLC grew its stake in shares of Rocket Lab by 75.4% in the first quarter. Cresset Asset Management LLC now owns 24,374 shares of the rocket manufacturer’s stock worth $436,000 after purchasing an additional 10,474 shares in the last quarter. Institutional investors own 71.78% of the company’s stock.

About Rocket Lab

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.