Matthew Ocko Sells 820,000 Shares of Rocket Lab Corporation (NASDAQ:RKLB) Stock

Rocket Lab Corporation (NASDAQ:RKLB - Get Free Report) Director Matthew Ocko sold 820,000 shares of the stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $26.01, for a total value of $21,328,200.00. Following 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 legal filing with the Securities & Exchange Commission, which is available through this link.

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

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

Rocket Lab Price Performance

Shares of NASDAQ RKLB traded up $2.19 during mid-day trading on Friday, reaching $30.04. The company had a trading volume of 36,968,490 shares, compared to its average volume of 17,214,970. The company has a current ratio of 2.08, a quick ratio of 1.72 and a debt-to-equity ratio of 0.97. The stock has a market cap of $13.62 billion, a PE ratio of -75.10 and a beta of 2.08. The company has a 50-day moving average price of $24.37 and a two-hundred day moving average price of $23.88. Rocket Lab Corporation has a 1-year low of $4.20 and a 1-year 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 analysts' consensus estimates of ($0.10) by ($0.02). The company had revenue of $122.57 million during the quarter, compared to analyst estimates of $120.74 million. Rocket Lab had a negative return on equity of 48.92% and a negative net margin of 44.32%. The business's revenue was up 32.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.09) earnings per share. On average, equities analysts anticipate that Rocket Lab Corporation will post -0.38 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Spectrum Wealth Counsel LLC purchased a new position in shares of Rocket Lab during the fourth quarter valued at $25,000. Sandy Spring Bank purchased a new position in shares of Rocket Lab during the fourth quarter valued at $26,000. Versant Capital Management Inc grew 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 valued at $28,000 after buying an additional 860 shares in the last quarter. MassMutual Private Wealth & Trust FSB purchased a new position in shares of Rocket Lab during the first quarter valued at $29,000. Finally, Quarry LP purchased a new position in shares of Rocket Lab during the fourth quarter valued at $48,000. Hedge funds and other institutional investors own 71.78% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on RKLB. Morgan Stanley lifted their target price on Rocket Lab from $18.00 to $20.00 and gave the company an "equal weight" rating in a research note on Monday, March 10th. KeyCorp reaffirmed an "overweight" rating on shares of Rocket Lab in a research note on Tuesday, June 3rd. TD Cowen raised Rocket Lab to a "strong-buy" rating in a research note on Monday, February 24th. Citigroup cut their target price 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, Stifel Nicolaus lifted their target price on Rocket Lab from $29.00 to $34.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Rocket Lab has an average rating of "Moderate Buy" and a consensus target price of $28.10.

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.