Rocket Lab (NASDAQ:RKLB) Director Alexander Slusky Sells 40,000 Shares

Rocket Lab Corporation (NASDAQ:RKLB) Director Alexander Slusky sold 40,000 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $123.60, for a total transaction of $4,944,000.00. Following the sale, the director directly owned 334,675 shares in the company, valued at $41,365,830. This represents a 10.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Rocket Lab Price Performance

Shares of NASDAQ RKLB traded down $9.87 during mid-day trading on Friday, hitting $110.08. 21,327,751 shares of the stock were exchanged, compared to its average volume of 24,129,574. Rocket Lab Corporation has a twelve month low of $25.24 and a twelve month high of $151.00. The stock’s fifty day simple moving average is $96.28 and its two-hundred day simple moving average is $78.47. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.02 and a current ratio of 4.47. The company has a market cap of $63.71 billion, a P/E ratio of -344.00 and a beta of 2.49.

Rocket Lab (NASDAQ:RKLB) last announced its earnings results on Thursday, May 7th. The rocket manufacturer reported ($0.07) EPS for the quarter, hitting the consensus estimate of ($0.07). Rocket Lab had a negative return on equity of 11.72% and a negative net margin of 26.87%.The business had revenue of $200.35 million for the quarter, compared to the consensus estimate of $189.65 million. During the same period in the previous year, the business earned ($0.12) EPS. Rocket Lab’s revenue was up 63.4% compared to the same quarter last year. As a group, analysts forecast that Rocket Lab Corporation will post -0.29 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on RKLB. Citigroup restated an “outperform” rating on shares of Rocket Lab in a research note on Friday, May 8th. Cantor Fitzgerald reissued an “overweight” rating on shares of Rocket Lab in a research note on Wednesday, May 27th. Weiss Ratings reissued a “sell (d-)” rating on shares of Rocket Lab in a report on Tuesday, April 21st. Stifel Nicolaus set a $132.00 price objective on shares of Rocket Lab in a research report on Thursday. Finally, Craig Hallum upgraded Rocket Lab from a “hold” rating to a “buy” rating and set a $98.00 price objective on the stock in a research report on Friday, May 8th. Three analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.88.

More Rocket Lab News

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

• Positive Sentiment: Wall Street sentiment improved after Stifel raised its price target on Rocket Lab to a Street-high $132 from $110 and kept a Buy rating, reinforcing the view that growth can continue. Rocket Lab Stock (RKLB) Lands a New Street-High Target as Top Stifel Analyst Sees Stronger Growth Ahead
• Positive Sentiment: Recent coverage continues to highlight Rocket Lab’s strong operating momentum, including its first-ever $200 million revenue quarter, 63%+ year-over-year revenue growth, expanding gross margin, and a backlog that reached $2.2 billion. Rocket Lab: Don’t Hold Your Breath On Neutron
• Positive Sentiment: The broader space sector is getting a lift from SpaceX IPO excitement, and Rocket Lab is being viewed as a public-market way to play the space race, which has helped sentiment across RKLB and other space stocks. There’s More to Space Stocks Than SpaceX
• Neutral Sentiment: Some analysts and commentators are warning that the stock’s big rally may have outrun fundamentals, pointing to valuation risk and possible volatility if expectations become harder to beat. We’re Holding Rocket Lab Despite 356% Rally
• Negative Sentiment: Bearish pieces argue investors should be cautious ahead of a possible SpaceX IPO “reality check,” with concerns that competition and sky-high expectations could eventually pressure RKLB’s multiple. Rocket Lab: Sell Before The SpaceX IPO Reality Check

Institutional Investors Weigh In On Rocket Lab

Several large investors have recently modified their holdings of the business. Sara Bay Financial boosted its holdings in Rocket Lab by 0.7% in the 4th quarter. Sara Bay Financial now owns 15,905 shares of the rocket manufacturer’s stock valued at $1,121,000 after purchasing an additional 117 shares during the period. ORG Partners LLC increased its stake in Rocket Lab by 9.1% during the 4th quarter. ORG Partners LLC now owns 1,458 shares of the rocket manufacturer’s stock worth $102,000 after acquiring an additional 121 shares during the period. Bartlett & CO. Wealth Management LLC increased its stake in Rocket Lab by 7.1% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 1,869 shares of the rocket manufacturer’s stock worth $120,000 after acquiring an additional 124 shares during the period. Sovereign Financial Group Inc. raised its holdings in Rocket Lab by 3.9% in the 1st quarter. Sovereign Financial Group Inc. now owns 3,320 shares of the rocket manufacturer’s stock valued at $213,000 after acquiring an additional 125 shares in the last quarter. Finally, Traynor Capital Management Inc. lifted its position in shares of Rocket Lab by 1.9% during the 4th quarter. Traynor Capital Management Inc. now owns 7,191 shares of the rocket manufacturer’s stock valued at $502,000 after acquiring an additional 133 shares during the period. 71.78% of the stock is currently owned by institutional investors.

Rocket Lab Company Profile

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.