Rocket Lab (NASDAQ:RKLB) CFO Adam Spice Sells 874,588 Shares

Key Points

• Rocket Lab's CFO, Adam Spice, sold 874,588 shares on September 19th at an average price of $48.01, bringing in nearly $42 million and resulting in a 29.82% decrease in his stock ownership.
• The company's stock experienced a price increase, reaching $49.81 during trading, with recent trading volumes significantly above the average.
• Rocket Lab reported a quarterly loss of ($0.13) EPS, missing estimates, but its revenue increased by 35.9% year-over-year, showcasing strong demand despite financial challenges.

Rocket Lab Corporation (NASDAQ:RKLB - Get Free Report) CFO Adam Spice sold 874,588 shares of the stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $48.01, for a total value of $41,988,969.88. Following the completion of the sale, the chief financial officer directly owned 2,057,889 shares of the company's stock, valued at $98,799,250.89. This represents a 29.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Rocket Lab Stock Performance

Shares of RKLB traded up $2.02 during mid-day trading on Monday, hitting $49.81. The company's stock had a trading volume of 22,942,089 shares, compared to its average volume of 22,187,580. Rocket Lab Corporation has a one year low of $7.28 and a one year high of $55.17. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.33 and a current ratio of 2.67. The firm has a market capitalization of $24.11 billion, a PE ratio of -110.69 and a beta of 2.17. The stock's 50-day moving average is $46.37 and its two-hundred day moving average is $32.33.

Rocket Lab (NASDAQ:RKLB - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The rocket manufacturer reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.06). The business had revenue of $144.50 million during the quarter, compared to the consensus estimate of $135.42 million. Rocket Lab had a negative net margin of 45.87% and a negative return on equity of 48.14%. The firm's revenue was up 35.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.08) earnings per share. Rocket Lab has set its Q3 2025 guidance at EPS. As a group, sell-side analysts anticipate that Rocket Lab Corporation will post -0.38 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Cantor Fitzgerald upped their target price on shares of Rocket Lab from $35.00 to $54.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. Roth Capital reiterated a "buy" rating on shares of Rocket Lab in a research report on Friday, August 29th. Stifel Nicolaus upped their target price on shares of Rocket Lab from $34.00 to $55.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. Bank of America upped their target price on shares of Rocket Lab from $30.00 to $50.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Finally, The Goldman Sachs Group assumed coverage on shares of Rocket Lab in a research report on Monday, June 30th. They issued a "neutral" rating and a $27.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $42.27.

Institutional Trading of Rocket Lab

Several hedge funds have recently bought and sold shares of RKLB. Versant Capital Management Inc grew its stake 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 acquiring an additional 860 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Rocket Lab by 109.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 796 shares of the rocket manufacturer's stock worth $28,000 after acquiring an additional 416 shares in the last quarter. MassMutual Private Wealth & Trust FSB bought a new position in shares of Rocket Lab during the 1st quarter worth approximately $29,000. Farther Finance Advisors LLC grew its stake in shares of Rocket Lab by 181.1% during the 1st quarter. Farther Finance Advisors LLC now owns 1,903 shares of the rocket manufacturer's stock worth $35,000 after acquiring an additional 1,226 shares in the last quarter. Finally, Spectrum Wealth Counsel LLC grew its stake in shares of Rocket Lab by 100.0% during the 1st quarter. Spectrum Wealth Counsel LLC now owns 2,000 shares of the rocket manufacturer's stock worth $36,000 after acquiring an additional 1,000 shares in the last quarter. 71.78% of the stock is currently owned by institutional investors and hedge funds.

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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