Rocket Lab Corporation (NASDAQ:RKLB) Director Sells $212,063.14 in Stock

Rocket Lab Corporation (NASDAQ:RKLB - Get Free Report) Director Merline Saintil sold 6,353 shares of Rocket Lab stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $33.38, for a total value of $212,063.14. Following the sale, the director now directly owns 419,569 shares of the company's stock, valued at approximately $14,005,213.22. This trade represents a 1.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Friday, June 20th, Merline Saintil sold 6,353 shares of Rocket Lab stock. The shares were sold at an average price of $29.41, for a total value of $186,841.73.

Rocket Lab Stock Up 11.7%

RKLB stock traded up $3.79 on Thursday, hitting $36.14. 41,451,021 shares of the company's stock were exchanged, compared to its average volume of 17,554,194. The firm has a 50 day moving average price of $25.13 and a two-hundred day moving average price of $24.07. Rocket Lab Corporation has a 12-month low of $4.20 and a 12-month high of $37.19. The stock has a market cap of $16.39 billion, a P/E ratio of -90.35 and a beta of 2.08. 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 issued its quarterly earnings results on Thursday, May 8th. The rocket manufacturer reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.02). Rocket Lab had a negative return on equity of 48.92% and a negative net margin of 44.32%. The business had revenue of $122.57 million for the quarter, compared to analysts' expectations of $120.74 million. Rocket Lab's revenue was up 32.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.09) EPS. As a group, equities research analysts expect that Rocket Lab Corporation will post -0.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of RKLB. Spectrum Wealth Counsel LLC purchased a new stake in shares of Rocket Lab during the fourth quarter valued at $25,000. Sandy Spring Bank acquired a new stake in Rocket Lab during the 4th quarter worth about $26,000. Versant Capital Management Inc grew its stake in Rocket Lab by 118.1% during the 1st quarter. Versant Capital Management Inc now owns 1,588 shares of the rocket manufacturer's stock valued at $28,000 after purchasing an additional 860 shares during the last quarter. MassMutual Private Wealth & Trust FSB purchased a new stake in Rocket Lab during the 1st quarter valued at about $29,000. Finally, Farther Finance Advisors LLC increased its holdings in shares of Rocket Lab by 181.1% in the first quarter. Farther Finance Advisors LLC now owns 1,903 shares of the rocket manufacturer's stock valued at $35,000 after purchasing an additional 1,226 shares during the period. Institutional investors and hedge funds own 71.78% of the company's stock.

Analyst Ratings Changes

RKLB has been the topic of a number of research reports. KeyCorp reissued an "overweight" rating on shares of Rocket Lab in a research report on Tuesday, June 3rd. Citigroup dropped their price objective 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. Morgan Stanley boosted their price objective 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. Roth Capital increased their target price on Rocket Lab from $25.00 to $35.00 and gave the company a "buy" rating in a research report on Wednesday, May 28th. Finally, Cantor Fitzgerald lifted their price target on Rocket Lab from $29.00 to $35.00 and gave the company an "overweight" rating in a report on Tuesday, June 10th. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $28.10.

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.