Rocket Lab (NASDAQ:RKLB) Director Alexander Slusky Sells 40,000 Shares

Rocket Lab Corporation (NASDAQ:RKLB) Director Alexander Slusky sold 40,000 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $123.60, for a total value of $4,944,000.00. Following the transaction, the director owned 334,675 shares in the company, valued at $41,365,830. The trade was a 10.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Rocket Lab Stock Down 8.2%

RKLB stock opened at $110.08 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.47 and a quick ratio of 4.02. The stock has a market capitalization of $63.71 billion, a price-to-earnings ratio of -344.00 and a beta of 2.49. The business’s fifty day moving average price is $97.02 and its two-hundred day moving average price is $78.69. Rocket Lab Corporation has a fifty-two week low of $25.24 and a fifty-two week high of $151.00.

Rocket Lab (NASDAQ:RKLB) last posted its quarterly earnings data on Thursday, May 7th. The rocket manufacturer reported ($0.07) earnings per share for the quarter, hitting the consensus estimate of ($0.07). The firm had revenue of $200.35 million for the quarter, compared to analysts’ expectations of $189.65 million. Rocket Lab had a negative return on equity of 11.72% and a negative net margin of 26.87%.The company’s quarterly revenue was up 63.4% compared to the same quarter last year. During the same quarter last year, the business earned ($0.12) EPS. On average, equities analysts anticipate that Rocket Lab Corporation will post -0.29 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on RKLB. Needham & Company LLC increased their target price on Rocket Lab from $95.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Deutsche Bank Aktiengesellschaft increased their target price on Rocket Lab from $73.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Cantor Fitzgerald reissued an “overweight” rating on shares of Rocket Lab in a report on Wednesday, May 27th. TD Cowen increased their target price on Rocket Lab from $90.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Finally, Roth Mkm increased their target price on Rocket Lab from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, April 17th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $98.88.

Trending Headlines about Rocket Lab

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

• Positive Sentiment: Wall Street sentiment improved after Stifel raised its price target on Rocket Lab to a Street-high $132 from $110 and kept a Buy rating, reinforcing the view that growth can continue. Rocket Lab Stock (RKLB) Lands a New Street-High Target as Top Stifel Analyst Sees Stronger Growth Ahead
• Positive Sentiment: Recent coverage continues to highlight Rocket Lab’s strong operating momentum, including its first-ever $200 million revenue quarter, 63%+ year-over-year revenue growth, expanding gross margin, and a backlog that reached $2.2 billion. Rocket Lab: Don’t Hold Your Breath On Neutron
• Positive Sentiment: The broader space sector is getting a lift from SpaceX IPO excitement, and Rocket Lab is being viewed as a public-market way to play the space race, which has helped sentiment across RKLB and other space stocks. There’s More to Space Stocks Than SpaceX
• Neutral Sentiment: Some analysts and commentators are warning that the stock’s big rally may have outrun fundamentals, pointing to valuation risk and possible volatility if expectations become harder to beat. We’re Holding Rocket Lab Despite 356% Rally
• Negative Sentiment: Bearish pieces argue investors should be cautious ahead of a possible SpaceX IPO “reality check,” with concerns that competition and sky-high expectations could eventually pressure RKLB’s multiple. Rocket Lab: Sell Before The SpaceX IPO Reality Check

Institutional Trading of Rocket Lab

Large investors have recently modified their holdings of the stock. Aventura Private Wealth LLC acquired a new stake in Rocket Lab in the fourth quarter valued at about $25,000. UMB Bank n.a. boosted its stake in Rocket Lab by 352.5% in the third 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 in the last quarter. Mcguire Capital Advisors Inc. acquired a new stake in Rocket Lab in the fourth quarter valued at about $27,000. Zions Bancorporation National Association UT acquired a new stake in Rocket Lab in the fourth quarter valued at about $28,000. Finally, EverSource Wealth Advisors LLC boosted its stake in Rocket Lab by 109.5% in the second quarter. EverSource Wealth Advisors LLC now owns 796 shares of the rocket manufacturer’s stock valued at $28,000 after buying an additional 416 shares in the last quarter. 71.78% of the stock is owned by institutional investors and hedge funds.

Rocket Lab Company Profile

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.