Rocket Lab (NASDAQ:RKLB) Director Merline Saintil Sells 15,000 Shares

Rocket Lab Corporation (NASDAQ:RKLB) Director Merline Saintil sold 15,000 shares of the stock in a transaction dated 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 transaction, the director directly owned 398,529 shares in the company, valued at $25,904,385. The trade was a 3.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• 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 Up 0.1%

Rocket Lab stock opened at $55.49 on Wednesday. The company’s 50-day moving average price is $54.74 and its two-hundred day moving average price is $46.60. 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 has a market cap of $29.64 billion, a P/E ratio of -146.03 and a beta of 2.20. Rocket Lab Corporation has a twelve month low of $14.71 and a twelve month high of $73.97.

Rocket Lab (NASDAQ:RKLB) last issued its quarterly earnings data on Monday, November 10th. The rocket manufacturer reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. The company had revenue of $155.08 million during 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%.The business’s revenue was up 48.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.10) earnings per share. As a group, analysts expect that Rocket Lab Corporation will post -0.38 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on RKLB. Citigroup reiterated a “market perform” rating on shares of Rocket Lab in a research report on Wednesday, November 12th. KeyCorp raised their price target on shares of Rocket Lab from $50.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. Bank of America lifted their price objective on shares of Rocket Lab from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, November 19th. Morgan Stanley decreased 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 research report on Wednesday, November 12th. Finally, Roth Capital reaffirmed a “buy” rating and set a $75.00 target price on shares of Rocket Lab in a report on Tuesday, November 11th. 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, 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

A number of large investors have recently bought and sold shares of the company. Wilmington Savings Fund Society FSB bought a new stake in shares of Rocket Lab during the 3rd quarter worth approximately $25,000. Hara Capital LLC bought a new position in Rocket Lab in the third quarter valued at approximately $25,000. UMB Bank n.a. raised its position in Rocket Lab by 352.5% during the third 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 in the last quarter. Sound Income Strategies LLC bought a new stake in Rocket Lab during the third quarter worth $27,000. Finally, Financial Consulate Inc. acquired a new stake in shares of Rocket Lab in the 3rd quarter valued at $35,000. 71.78% of the stock is currently owned by institutional investors and hedge funds.

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.