Rocket Lab (NASDAQ:RKLB) Director Merline Saintil Sells 5,000 Shares of Stock

Rocket Lab Corporation (NASDAQ:RKLB) Director Merline Saintil sold 5,000 shares of the stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $54.46, for a total value of $272,300.00. Following the sale, the director owned 393,529 shares of the company’s stock, valued at approximately $21,431,589.34. The trade was a 1.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Friday, December 12th, Merline Saintil sold 15,000 shares of Rocket Lab stock. The shares were sold at an average price of $65.00, for a total value of $975,000.00.
• On Thursday, December 4th, Merline Saintil sold 10,000 shares of Rocket Lab stock. The stock was sold at an average price of $48.00, for a total value of $480,000.00.

Rocket Lab Trading Up 11.0%

RKLB stock traded up $5.96 during mid-day trading on Thursday, reaching $59.92. The company’s stock had a trading volume of 27,750,180 shares, compared to its average volume of 20,816,607. Rocket Lab Corporation has a 12 month low of $14.71 and a 12 month high of $73.97. The company has a current ratio of 3.18, a quick ratio of 2.83 and a debt-to-equity ratio of 0.32. The business’s 50 day moving average price is $54.38 and its 200 day moving average price is $46.74. The company has a market cap of $32.01 billion, a price-to-earnings ratio of -157.68 and a beta of 2.20.

Rocket Lab (NASDAQ:RKLB) last posted its quarterly earnings results on Monday, November 10th. The rocket manufacturer reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. The firm had revenue of $155.08 million for the quarter, compared to analysts’ expectations of $152.45 million. Rocket Lab had a negative return on equity of 27.26% and a negative net margin of 35.64%.The company’s revenue for the quarter was up 48.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.10) EPS. On average, equities research analysts predict that Rocket Lab Corporation will post -0.38 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on RKLB shares. Baird R W raised shares of Rocket Lab to a “strong-buy” rating in a research note on Thursday, October 16th. Robert W. Baird assumed coverage on Rocket Lab in a research report on Wednesday, October 15th. They issued an “outperform” rating and a $83.00 target price for the company. KeyCorp upped their price target on Rocket Lab from $50.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday, October 17th. Bank of America raised their price objective on Rocket Lab from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, November 19th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Rocket Lab in a research report on Wednesday, December 3rd. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.17.

Institutional Trading of Rocket Lab

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB bought a new position in shares of Rocket Lab in the third quarter valued at approximately $25,000. Hara Capital LLC purchased a new stake in Rocket Lab in the 3rd quarter valued at $25,000. UMB Bank n.a. raised its position in Rocket Lab by 352.5% in the 3rd quarter. UMB Bank n.a. now owns 543 shares of the rocket manufacturer’s stock valued at $26,000 after buying an additional 423 shares during the last quarter. Sound Income Strategies LLC bought a new position in Rocket Lab during the 3rd quarter valued at $27,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in 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 during the last quarter. 71.78% of the stock is owned by institutional investors.

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.