Rocket Lab (NASDAQ:RKLB) Director Nina Armagno Sells 27,314 Shares of Stock

Rocket Lab Corporation (NASDAQ:RKLBGet Free Report) Director Nina Armagno sold 27,314 shares of the company’s stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $68.21, for a total value of $1,863,087.94. Following the completion of the transaction, the director owned 108,940 shares of the company’s stock, valued at $7,430,797.40. The trade was a 20.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Rocket Lab Stock Performance

NASDAQ:RKLB opened at $77.18 on Wednesday. The company has a market capitalization of $41.23 billion, a price-to-earnings ratio of -203.11 and a beta of 2.20. The business has a 50 day moving average of $54.93 and a 200 day moving average of $48.03. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.18 and a quick ratio of 2.83. Rocket Lab Corporation has a 1-year low of $14.71 and a 1-year high of $79.18.

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

Analyst Ratings Changes

RKLB has been the subject of several analyst reports. Baird R W upgraded Rocket Lab to a “strong-buy” rating in a report on Thursday, October 16th. Wall Street Zen cut shares of Rocket Lab from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. Morgan Stanley lowered their price target on shares of Rocket Lab from $68.00 to $67.00 and set an “equal weight” rating for the company in a report on Wednesday, November 12th. Stifel Nicolaus raised their price target on shares of Rocket Lab from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Monday. Finally, KeyCorp upped their price objective on shares of Rocket Lab from $50.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, October 17th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $61.25.

Read Our Latest Analysis on Rocket Lab

Rocket Lab News Summary

Here are the key news stories impacting Rocket Lab this week:

Institutional Investors Weigh In On Rocket Lab

Several hedge funds have recently made changes to their positions in RKLB. Vanguard Group Inc. boosted its holdings in shares of Rocket Lab by 5.4% during the 3rd quarter. Vanguard Group Inc. now owns 41,809,723 shares of the rocket manufacturer’s stock valued at $2,003,104,000 after buying an additional 2,127,565 shares in the last quarter. Capital World Investors increased its position in Rocket Lab by 9.4% during the 3rd quarter. Capital World Investors now owns 14,462,103 shares of the rocket manufacturer’s stock valued at $692,879,000 after buying an additional 1,242,547 shares in the last quarter. State Street Corp boosted its holdings in Rocket Lab by 13.6% in the third quarter. State Street Corp now owns 12,399,571 shares of the rocket manufacturer’s stock worth $594,063,000 after acquiring an additional 1,487,237 shares in the last quarter. Baillie Gifford & Co. increased its holdings in shares of Rocket Lab by 176.1% during the third quarter. Baillie Gifford & Co. now owns 12,125,910 shares of the rocket manufacturer’s stock valued at $580,952,000 after acquiring an additional 7,734,788 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Rocket Lab by 67.0% in the 2nd quarter. Invesco Ltd. now owns 6,242,304 shares of the rocket manufacturer’s stock worth $223,287,000 after purchasing an additional 2,504,054 shares in the last quarter. 71.78% of the stock is currently owned by institutional investors.

Rocket Lab Company Profile

(Get Free Report)

Rocket Lab is an aerospace company that provides launch services, spacecraft, and space systems for commercial and government customers. The company’s primary launch vehicle is Electron, a small-lift orbital rocket designed to deploy small satellites and rideshare payloads to low Earth orbit. Rocket Lab also develops and manufactures the Rutherford engine, noted for its electric-pump-fed design and additive-manufactured components, which powers Electron and supports the company’s propulsion capabilities.

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Insider Buying and Selling by Quarter for Rocket Lab (NASDAQ:RKLB)

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