Merline Saintil Sells 6,353 Shares of Rocket Lab Corporation (NASDAQ:RKLB) Stock

Rocket Lab Corporation (NASDAQ:RKLB - Get Free Report) Director Merline Saintil sold 6,353 shares of the stock in a transaction on Friday, June 20th. The shares were sold at an average price of $29.41, for a total value of $186,841.73. Following the completion of the sale, the director now owns 425,922 shares of the company's stock, valued at $12,526,366.02. The trade was a 1.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Rocket Lab Stock Performance

Shares of NASDAQ:RKLB traded up $2.74 during midday trading on Monday, hitting $32.78. The company's stock had a trading volume of 43,759,208 shares, compared to its average volume of 17,321,248. The stock has a market capitalization of $14.87 billion, a price-to-earnings ratio of -81.95 and a beta of 2.08. The stock's 50 day simple moving average is $24.37 and its 200 day simple moving average is $23.88. Rocket Lab Corporation has a fifty-two week low of $4.20 and a fifty-two week high of $33.34. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.72 and a current ratio of 2.08.

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

Wall Street Analyst Weigh In

RKLB has been the subject of a number of research analyst reports. The Goldman Sachs Group increased their target price on Rocket Lab from $14.35 to $16.00 and gave the company a "neutral" rating in a report on Monday, May 12th. Citigroup dropped their price target on shares of Rocket Lab from $35.00 to $33.00 and set a "buy" rating on the stock in a research note on Friday, February 28th. Cantor Fitzgerald upped their price target on shares of Rocket Lab from $29.00 to $35.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 10th. Morgan Stanley upped their price target on shares of Rocket Lab from $18.00 to $20.00 and gave the stock an "equal weight" rating in a research note on Monday, March 10th. Finally, Wells Fargo & Company dropped their price target on shares of Rocket Lab from $21.00 to $18.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $28.10.

Institutional Investors Weigh In On Rocket Lab

Several hedge funds have recently made changes to their positions in the stock. Spectrum Wealth Counsel LLC bought a new position in Rocket Lab during the fourth quarter worth about $25,000. Sandy Spring Bank acquired a new stake in shares of Rocket Lab during the fourth quarter worth approximately $26,000. Versant Capital Management Inc increased its holdings in shares of Rocket Lab by 118.1% during the first 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 in the last quarter. MassMutual Private Wealth & Trust FSB acquired a new stake in shares of Rocket Lab during the first quarter worth approximately $29,000. Finally, Quarry LP acquired a new stake in shares of Rocket Lab during the fourth quarter worth approximately $48,000. Institutional investors own 71.78% of the company's stock.

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.

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