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

Rocket Lab Corporation (NASDAQ:RKLB) Director Merline Saintil sold 5,000 shares of the stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $54.46, for a total transaction of $272,300.00. Following the sale, the director owned 393,529 shares in the company, valued at $21,431,589.34. This represents a 1.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Friday, December 12th, Merline Saintil sold 15,000 shares of Rocket Lab stock. The shares were sold at an average price of $65.00, for a total transaction of $975,000.00.
• On Thursday, December 4th, Merline Saintil sold 10,000 shares of Rocket Lab stock. The stock was sold at an average price of $48.00, for a total value of $480,000.00.

Rocket Lab Price Performance

Shares of RKLB traded up $5.96 during midday trading on Thursday, hitting $59.92. The company’s stock had a trading volume of 27,750,180 shares, compared to its average volume of 20,816,607. The company has a quick ratio of 2.83, a current ratio of 3.18 and a debt-to-equity ratio of 0.32. Rocket Lab Corporation has a one year low of $14.71 and a one year high of $73.97. The stock has a market capitalization of $32.01 billion, a price-to-earnings ratio of -157.68 and a beta of 2.20. The company’s fifty day simple moving average is $54.38 and its two-hundred day simple moving average is $46.74.

Rocket Lab (NASDAQ:RKLB) last released its quarterly earnings data on Monday, November 10th. The rocket manufacturer reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.02. The business had revenue of $155.08 million for the quarter, compared to analyst estimates 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 was up 48.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.10) earnings per share. As a group, equities analysts expect that Rocket Lab Corporation will post -0.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Bank of America upped their price objective on shares of Rocket Lab from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, November 19th. Stifel Nicolaus reiterated a “buy” rating and set a $75.00 price target (up from $65.00) on shares of Rocket Lab in a report on Tuesday, November 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rocket Lab in a research note on Wednesday, October 8th. Cantor Fitzgerald restated an “overweight” rating on shares of Rocket Lab in a research report on Wednesday, December 3rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $63.00 target price on shares of Rocket Lab in a report on Tuesday, November 25th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Rocket Lab presently has an average rating of “Moderate Buy” and a consensus price target of $58.17.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. increased its stake in shares of Rocket Lab by 4,904.6% in the first quarter. Russell Investments Group Ltd. now owns 19,668 shares of the rocket manufacturer’s stock valued at $352,000 after buying an additional 19,275 shares during the period. Ethic Inc. boosted its holdings in Rocket Lab by 4.4% in the first quarter. Ethic Inc. now owns 33,473 shares of the rocket manufacturer’s stock valued at $608,000 after acquiring an additional 1,422 shares during the last quarter. Cresset Asset Management LLC increased its position in Rocket Lab by 75.4% during the 1st quarter. Cresset Asset Management LLC now owns 24,374 shares of the rocket manufacturer’s stock valued at $436,000 after purchasing an additional 10,474 shares during the period. Raymond James Financial Inc. raised its holdings in Rocket Lab by 166.5% during the 1st quarter. Raymond James Financial Inc. now owns 601,497 shares of the rocket manufacturer’s stock worth $10,755,000 after purchasing an additional 375,831 shares during the last quarter. Finally, Algert Global LLC raised its holdings in Rocket Lab by 115.1% during the 1st quarter. Algert Global LLC now owns 126,250 shares of the rocket manufacturer’s stock worth $2,257,000 after purchasing an additional 67,550 shares during the last quarter. 71.78% of the stock is 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.