Rocket Lab (NASDAQ:RKLB) Director Merline Saintil Sells 5,000 Shares

Rocket Lab Corporation (NASDAQ:RKLBGet Free Report) Director Merline Saintil sold 5,000 shares of the firm’s stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $65.00, for a total value of $325,000.00. Following the transaction, the director directly owned 388,529 shares in the company, valued at approximately $25,254,385. This represents a 1.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

  • On Wednesday, December 17th, Merline Saintil sold 5,000 shares of Rocket Lab stock. The shares were sold at an average price of $54.46, for a total value of $272,300.00.
  • On Friday, December 12th, Merline Saintil sold 15,000 shares of Rocket Lab stock. The stock was sold at an average price of $65.00, for a total value of $975,000.00.
  • 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 value of $480,000.00.

Rocket Lab Price Performance

Rocket Lab stock opened at $77.55 on Tuesday. 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 business has a 50 day simple moving average of $54.75 and a 200-day simple moving average of $47.69. Rocket Lab Corporation has a 12 month low of $14.71 and a 12 month high of $78.45. The stock has a market capitalization of $41.42 billion, a PE ratio of -204.08 and a beta of 2.20.

Rocket Lab (NASDAQ:RKLBGet Free Report) 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. Rocket Lab had a negative net margin of 35.64% and a negative return on equity of 27.26%. The company had revenue of $155.08 million for the quarter, compared to analysts’ expectations of $152.45 million. During the same period in the previous year, the company posted ($0.10) EPS. Rocket Lab’s revenue was up 48.0% compared to the same quarter last year. Equities analysts predict that Rocket Lab Corporation will post -0.38 earnings per share for the current year.

Key Headlines Impacting Rocket Lab

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Baillie Gifford & Co. boosted its position in shares of Rocket Lab by 176.1% in the 3rd 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 in the last quarter. Kingstone Capital Partners Texas LLC acquired a new position in Rocket Lab during the second quarter worth about $192,918,000. Norges Bank purchased a new stake in shares of Rocket Lab in the second quarter valued at about $164,751,000. Invesco Ltd. lifted its holdings in shares of Rocket Lab by 67.0% in the second quarter. Invesco Ltd. now owns 6,242,304 shares of the rocket manufacturer’s stock valued at $223,287,000 after purchasing an additional 2,504,054 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Rocket Lab by 5.4% in the third quarter. Vanguard Group Inc. now owns 41,809,723 shares of the rocket manufacturer’s stock valued at $2,003,104,000 after purchasing an additional 2,127,565 shares during the last quarter. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on RKLB shares. Stifel Nicolaus increased their target price on Rocket Lab from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday. Wall Street Zen lowered Rocket Lab from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. Cantor Fitzgerald reissued an “overweight” rating on shares of Rocket Lab in a report on Wednesday, December 3rd. Baird R W upgraded shares of Rocket Lab to a “strong-buy” rating in a research report on Thursday, October 16th. Finally, Robert W. Baird initiated coverage on shares of Rocket Lab in a report on Wednesday, October 15th. They issued an “outperform” rating and a $83.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Rocket Lab presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.00.

Read Our Latest Analysis on Rocket Lab

Rocket Lab Company Profile

(Get Free Report)

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.

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