Rocket Lab Corporation (NASDAQ:RKLB) Director Sells 820,000 Shares

Rocket Lab Corporation (NASDAQ:RKLB - Get Free Report) Director Matthew Ocko sold 820,000 shares of the stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $26.01, for a total value of $21,328,200.00. Following the completion of the transaction, the director now directly owns 1,083,053 shares in the company, valued at approximately $28,170,208.53. This represents a 43.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Thursday, June 12th, Matthew Ocko sold 200,000 shares of Rocket Lab stock. The shares were sold at an average price of $26.44, for a total transaction of $5,288,000.00.

Rocket Lab Stock Performance

NASDAQ:RKLB traded up $1.17 during midday trading on Wednesday, hitting $27.59. The company's stock had a trading volume of 13,402,526 shares, compared to its average volume of 17,127,666. Rocket Lab Corporation has a fifty-two week low of $4.20 and a fifty-two week high of $33.34. The firm has a market cap of $12.51 billion, a P/E ratio of -69.02 and a beta of 2.08. The firm's 50 day moving average is $23.85 and its 200-day moving average is $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.

Rocket Lab (NASDAQ:RKLB - Get Free Report) last posted its quarterly 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 return on equity of 48.92% and a negative net margin of 44.32%. The business had revenue of $122.57 million during the quarter, compared to analysts' expectations of $120.74 million. During the same period in the prior year, the business posted ($0.09) earnings per share. The business's quarterly revenue was up 32.1% on a year-over-year basis. Equities analysts anticipate that Rocket Lab Corporation will post -0.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rocket Lab

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Rocket Lab by 10.6% in the 1st quarter. Vanguard Group Inc. now owns 40,029,546 shares of the rocket manufacturer's stock valued at $715,728,000 after acquiring an additional 3,833,969 shares in the last quarter. FMR LLC increased its stake in Rocket Lab by 30,853.3% in the fourth quarter. FMR LLC now owns 3,696,136 shares of the rocket manufacturer's stock valued at $94,141,000 after purchasing an additional 3,684,195 shares during the last quarter. Two Sigma Advisers LP purchased a new stake in shares of Rocket Lab during the 4th quarter worth approximately $72,623,000. BNP Paribas Financial Markets acquired a new position in shares of Rocket Lab in the 4th quarter valued at $56,977,000. Finally, Two Sigma Investments LP acquired a new stake in Rocket Lab during the 4th quarter worth $47,074,000. Hedge funds and other institutional investors own 71.78% of the company's stock.

Analyst Ratings Changes

RKLB has been the subject of several recent research reports. The Goldman Sachs Group boosted their target price on shares of Rocket Lab from $14.35 to $16.00 and gave the company a "neutral" rating in a research report on Monday, May 12th. Wells Fargo & Company cut their price objective on shares of Rocket Lab from $21.00 to $18.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Cantor Fitzgerald raised their target price on Rocket Lab from $29.00 to $35.00 and gave the stock an "overweight" rating in a report on Tuesday, June 10th. Roth Capital boosted their price target on Rocket Lab from $25.00 to $35.00 and gave the company a "buy" rating in a report on Wednesday, May 28th. Finally, Stifel Nicolaus raised their price objective on Rocket Lab from $29.00 to $34.00 and gave the stock a "buy" rating in a research note on Wednesday, May 28th. Five equities research 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 company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $26.18.

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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