Matthew Ocko Sells 200,000 Shares of Rocket Lab Corporation (NASDAQ:RKLB) Stock

Rocket Lab Corporation (NASDAQ:RKLB - Get Free Report) Director Matthew Ocko sold 200,000 shares of the stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $26.44, for a total value of $5,288,000.00. Following the sale, the director now directly owns 1,320,121 shares in the company, valued at approximately $34,903,999.24. The trade was a 13.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Matthew Ocko also recently made the following trade(s):

• On Friday, June 13th, Matthew Ocko sold 820,000 shares of Rocket Lab stock. The shares were sold at an average price of $26.01, for a total value of $21,328,200.00.

Rocket Lab Price Performance

Shares of Rocket Lab stock traded up $1.17 during trading on Wednesday, reaching $27.59. 13,402,526 shares of the stock traded hands, compared to its average volume of 17,127,666. The business has a fifty day simple moving average of $23.85 and a two-hundred day simple moving average of $23.78. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.08 and a quick ratio of 1.72. The company has a market capitalization of $12.51 billion, a price-to-earnings ratio of -69.02 and a beta of 2.08. Rocket Lab Corporation has a 52-week low of $4.20 and a 52-week high of $33.34.

Rocket Lab (NASDAQ:RKLB - Get Free Report) last issued its earnings results on Thursday, May 8th. The rocket manufacturer reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.02). The business had revenue of $122.57 million for the quarter, compared to the consensus estimate of $120.74 million. Rocket Lab had a negative return on equity of 48.92% and a negative net margin of 44.32%. The firm's revenue was up 32.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.09) earnings per share. Sell-side analysts expect that Rocket Lab Corporation will post -0.38 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on RKLB. Stifel Nicolaus boosted their price objective on shares of Rocket Lab from $29.00 to $34.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. Cantor Fitzgerald raised their price objective on Rocket Lab from $29.00 to $35.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 10th. TD Cowen raised Rocket Lab to a "strong-buy" rating in a research note on Monday, February 24th. Citigroup lowered their price target on Rocket Lab from $35.00 to $33.00 and set a "buy" rating on the stock in a research note on Friday, February 28th. Finally, Needham & Company LLC boosted their price target on Rocket Lab from $28.00 to $32.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Rocket Lab presently has an average rating of "Moderate Buy" and an average price target of $26.18.

Institutional Trading of Rocket Lab

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Spectrum Wealth Counsel LLC purchased a new position in shares of Rocket Lab during the fourth quarter worth about $25,000. Sandy Spring Bank purchased a new position in Rocket Lab during the fourth quarter worth about $26,000. Versant Capital Management Inc increased its holdings in shares of Rocket Lab by 118.1% during the 1st quarter. Versant Capital Management Inc now owns 1,588 shares of the rocket manufacturer's stock worth $28,000 after buying an additional 860 shares during the last quarter. MassMutual Private Wealth & Trust FSB purchased a new stake in Rocket Lab during the 1st quarter worth $29,000. Finally, Farther Finance Advisors LLC lifted its holdings in Rocket Lab by 181.1% in the 1st quarter. Farther Finance Advisors LLC now owns 1,903 shares of the rocket manufacturer's stock worth $35,000 after buying an additional 1,226 shares in the last quarter. Hedge funds and other institutional investors own 71.78% of the company's stock.

Rocket Lab Company Profile

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.

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