Rocket Lab (NASDAQ:RKLB) Director Sells $90,283,275.40 in Stock

Key Points

• Rocket Lab's Director Matthew Ocko sold 1,873,097 shares of the company's stock for a total of $90.28 million, drastically reducing his ownership by 77.57%.
• The company reported an earnings per share of -$0.13 for the most recent quarter, missing estimates, but achieved a revenue of $144.50 million, exceeding expectations.
• Analysts maintain a consensus rating of 'Moderate Buy' on Rocket Lab stock, with a target price averaging $42.27, despite recent volatility in the stock price.

Rocket Lab Corporation (NASDAQ:RKLB - Get Free Report) Director Matthew Ocko sold 1,873,097 shares of Rocket Lab stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $48.20, for a total value of $90,283,275.40. Following the completion of the sale, the director owned 541,526 shares in the company, valued at approximately $26,101,553.20. The trade was a 77.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Rocket Lab Price Performance

RKLB stock traded down $0.90 during trading on Thursday, hitting $47.18. The stock had a trading volume of 19,308,755 shares, compared to its average volume of 21,560,860. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.67 and a quick ratio of 2.33. Rocket Lab Corporation has a twelve month low of $7.00 and a twelve month high of $55.17. The stock has a market capitalization of $22.62 billion, a P/E ratio of -104.84 and a beta of 2.17. The company's 50-day moving average price is $46.06 and its two-hundred day moving average price is $31.75.

Rocket Lab (NASDAQ:RKLB - Get Free Report) last issued its earnings results 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 company had revenue of $144.50 million for the quarter, compared to analyst estimates of $135.42 million. Rocket Lab had a negative return on equity of 48.14% and a negative net margin of 45.87%.The company's revenue for the quarter was up 35.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.08) earnings per share. Rocket Lab has set its Q3 2025 guidance at EPS. As a group, research analysts predict that Rocket Lab Corporation will post -0.38 EPS for the current fiscal year.

Analysts Set New Price Targets

RKLB has been the topic of a number of research analyst reports. Roth Capital reissued a "buy" rating on shares of Rocket Lab in a research report on Friday, August 29th. Craig Hallum initiated coverage on Rocket Lab in a research report on Monday, July 28th. They issued a "hold" rating and a $51.00 target price on the stock. Bank of America boosted their target price on Rocket Lab from $30.00 to $50.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Cantor Fitzgerald upped their price objective on Rocket Lab from $35.00 to $54.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. Finally, Citigroup reaffirmed a "buy" rating and set a $50.00 price objective (up previously from $33.00) on shares of Rocket Lab in a research report on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Rocket Lab currently has an average rating of "Moderate Buy" and a consensus target price of $42.27.

Hedge Funds Weigh In On Rocket Lab

Large investors have recently bought and sold shares of the business. Versant Capital Management Inc increased its holdings in Rocket Lab by 118.1% in 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 during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Rocket Lab by 109.5% during the second quarter. EverSource Wealth Advisors LLC now owns 796 shares of the rocket manufacturer's stock worth $28,000 after purchasing an additional 416 shares during the last quarter. MassMutual Private Wealth & Trust FSB purchased a new position in shares of Rocket Lab during the first quarter worth about $29,000. Farther Finance Advisors LLC grew its holdings in shares of Rocket Lab by 181.1% during the first quarter. Farther Finance Advisors LLC now owns 1,903 shares of the rocket manufacturer's stock worth $35,000 after purchasing an additional 1,226 shares during the last quarter. Finally, Spectrum Wealth Counsel LLC grew its holdings in shares of Rocket Lab by 100.0% during the first quarter. Spectrum Wealth Counsel LLC now owns 2,000 shares of the rocket manufacturer's stock worth $36,000 after purchasing an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 71.78% of the company's stock.

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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