Marvin Bradford Clevenger Sells 3,500 Shares of Rocket Lab (NASDAQ:RKLB) Stock

Rocket Lab Corporation (NASDAQ:RKLB) insider Marvin Bradford Clevenger sold 3,500 shares of the company’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $146.67, for a total value of $513,345.00. Following the completion of the transaction, the insider directly owned 473,975 shares in the company, valued at approximately $69,517,913.25. This trade represents a 0.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Marvin Bradford Clevenger also recently made the following trade(s):

• On Tuesday, May 26th, Marvin Bradford Clevenger sold 15,549 shares of Rocket Lab stock. The stock was sold at an average price of $142.57, for a total value of $2,216,820.93.

Rocket Lab Price Performance

RKLB opened at $123.32 on Wednesday. The stock’s 50-day moving average price is $93.14 and its 200 day moving average price is $76.94. Rocket Lab Corporation has a 12-month low of $25.24 and a 12-month high of $151.00. The company has a current ratio of 4.47, a quick ratio of 4.02 and a debt-to-equity ratio of 0.02. The firm has a market cap of $71.37 billion, a price-to-earnings ratio of -385.38 and a beta of 2.49.

Rocket Lab (NASDAQ:RKLB) last posted its earnings results on Thursday, May 7th. The rocket manufacturer reported ($0.07) earnings per share (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 firm had revenue of $200.35 million for the quarter, compared to analyst estimates of $189.65 million. During the same quarter in the prior year, the company earned ($0.12) EPS. Rocket Lab’s revenue was up 63.4% on a year-over-year basis. As a group, sell-side analysts expect that Rocket Lab Corporation will post -0.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. BTIG Research reissued a “hold” rating on shares of Rocket Lab in a research note on Tuesday, May 12th. Needham & Company LLC increased their target price on Rocket Lab from $95.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Craig Hallum raised Rocket Lab from a “hold” rating to a “buy” rating and set a $98.00 target price on the stock in a research note on Friday, May 8th. Citigroup reissued an “outperform” rating on shares of Rocket Lab in a research note on Friday, May 8th. Finally, Citizens Jmp increased their target price on Rocket Lab from $85.00 to $95.00 and gave the stock a “market outperform” rating in a research note on Friday, May 8th. Three analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $97.19.

Trending Headlines about Rocket Lab

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

• Negative Sentiment: RKLB is falling with the broader space group after weekend explosion news sparked renewed concern about launch risk and execution in the sector. Rocket Lab (RKLB) Loses 14.7% on Explosion News
• Negative Sentiment: Several insider sales were disclosed, including transactions by senior executives and a director, which can create near-term sentiment pressure even when sales are pre-planned. Rocket Lab (NASDAQ:RKLB) Insider Sells $513,345.00 in Stock
• Negative Sentiment: Commentary from multiple outlets says Rocket Lab may be vulnerable to a valuation reset as investors rotate away from high-flying space names ahead of the SpaceX IPO. Rocket Lab Stock Is Tumbling Today: What’s Happening?
• Neutral Sentiment: On the positive side, Rocket Lab continues to expand its Space Systems business, which now generates more revenue than Launch Services and supports the long-term growth case. How Is Rocket Lab Expanding Its Role Across Space Infrastructure?
• Neutral Sentiment: Analysts and market commentary still highlight Neutron, backlog growth, and Rocket Lab’s role in the broader commercial space buildout as longer-term catalysts. Will the SpaceX IPO Put These 5 Public Space Stocks Into a Higher Orbit?

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Arizona State Retirement System increased its holdings in shares of Rocket Lab by 13.6% in the 3rd quarter. Arizona State Retirement System now owns 127,794 shares of the rocket manufacturer’s stock valued at $6,123,000 after acquiring an additional 15,307 shares during the last quarter. Swedbank AB increased its holdings in shares of Rocket Lab by 8.2% in the 4th quarter. Swedbank AB now owns 509,250 shares of the rocket manufacturer’s stock valued at $35,525,000 after acquiring an additional 38,770 shares during the last quarter. Firsthand Capital Management Inc. increased its holdings in shares of Rocket Lab by 40.0% in the 3rd quarter. Firsthand Capital Management Inc. now owns 70,000 shares of the rocket manufacturer’s stock valued at $3,354,000 after acquiring an additional 20,000 shares during the last quarter. Swiss National Bank grew its stake in Rocket Lab by 67.7% during the 3rd quarter. Swiss National Bank now owns 1,243,630 shares of the rocket manufacturer’s stock worth $59,582,000 after buying an additional 501,830 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in Rocket Lab by 13.4% during the 4th quarter. Vanguard Group Inc. now owns 47,420,192 shares of the rocket manufacturer’s stock worth $3,308,033,000 after buying an additional 5,610,469 shares during the last quarter. Hedge funds and other institutional investors own 71.78% of the company’s stock.

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.