Rocket Lab Corporation (NASDAQ:RKLB) Director Merline Saintil Sells 6,353 Shares

Rocket Lab Corporation (NASDAQ:RKLB) Director Merline Saintil sold 6,353 shares of the company’s stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $33.38, for a total value of $212,063.14. Following the completion of the transaction, the director now directly owns 419,569 shares in the company, valued at approximately $14,005,213.22. The trade was a 1.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Friday, June 20th, Merline Saintil sold 6,353 shares of Rocket Lab stock. The stock was sold at an average price of $29.41, for a total value of $186,841.73.

Rocket Lab Stock Down 3.3%

NASDAQ:RKLB opened at $32.35 on Thursday. Rocket Lab Corporation has a 1 year low of $4.20 and a 1 year high of $34.50. The company has a current ratio of 2.08, a quick ratio of 1.72 and a debt-to-equity ratio of 0.97. The stock has a market cap of $14.67 billion, a price-to-earnings ratio of -80.88 and a beta of 2.08. The stock has a 50-day moving average price of $25.13 and a two-hundred day moving average price of $24.07.

Rocket Lab (NASDAQ:RKLB) last posted its earnings results on Thursday, May 8th. The rocket manufacturer reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.02). Rocket Lab had a negative net margin of 44.32% and a negative return on equity of 48.92%. The business had revenue of $122.57 million during the quarter, compared to analyst estimates of $120.74 million. During the same period in the previous year, the firm posted ($0.09) earnings per share. The firm’s revenue was up 32.1% on a year-over-year basis. As a group, equities analysts expect that Rocket Lab Corporation will post -0.38 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on RKLB shares. Roth Capital upped their target price on Rocket Lab from $25.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, May 28th. Wells Fargo & Company lowered their price objective on Rocket Lab from $21.00 to $18.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. Stifel Nicolaus increased their price objective on Rocket Lab from $29.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, May 28th. Morgan Stanley increased their price objective on Rocket Lab from $18.00 to $20.00 and gave the company an “equal weight” rating in a report on Monday, March 10th. Finally, Citigroup lowered their price objective on Rocket Lab from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Rocket Lab currently has a consensus rating of “Moderate Buy” and an average target price of $28.10.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RKLB. Spectrum Wealth Counsel LLC acquired a new position in Rocket Lab in the fourth quarter valued at about $25,000. Sandy Spring Bank acquired a new position in Rocket Lab in the fourth quarter valued at about $26,000. Versant Capital Management Inc grew its stake 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 acquiring an additional 860 shares during the period. MassMutual Private Wealth & Trust FSB acquired a new position in Rocket Lab in the first quarter valued at about $29,000. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Rocket Lab by 181.1% in the first quarter. Farther Finance Advisors LLC now owns 1,903 shares of the rocket manufacturer’s stock valued at $35,000 after purchasing an additional 1,226 shares in the last quarter. 71.78% of the stock is 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.