Rocket Lab (NASDAQ:RKLB) Hits New 1-Year High – What’s Next?

Rocket Lab Corporation (NASDAQ:RKLB) shares reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $139.76 and last traded at $136.9070, with a volume of 13843893 shares changing hands. The stock had previously closed at $125.45.

Rocket Lab News Roundup

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

• Positive Sentiment: Rocket Lab won a $90 million Space Force contract, which expands its satellite business into geostationary orbit and adds a meaningful new source of revenue. Article Title
• Positive Sentiment: The company completed its 9th Electron launch for Synspective, underscoring strong execution and a durable commercial launch partnership. Article Title
• Neutral Sentiment: Broader space-stock momentum and renewed interest ahead of SpaceX’s IPO are also lifting sentiment across the sector, including RKLB. Article Title
• Negative Sentiment: Some investors remain wary after Rocket Lab’s recent announcement of a potential $3 billion share-sale program, which raised dilution concerns earlier in the week. Article Title

Wall Street Analyst Weigh In

RKLB has been the topic of several recent analyst reports. Cantor Fitzgerald restated an “overweight” rating and set a $85.00 price objective on shares of Rocket Lab in a report on Friday, March 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Rocket Lab in a report on Tuesday, April 21st. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Rocket Lab from $73.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. BTIG Research restated a “hold” rating on shares of Rocket Lab in a report on Tuesday, May 12th. Finally, Citizens Jmp upped their price objective on shares of Rocket Lab from $85.00 to $95.00 and gave the company a “market outperform” rating in a report on Friday, May 8th. Three research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $97.19.

Rocket Lab Trading Up 8.2%

The stock has a 50-day moving average of $84.84 and a 200 day moving average of $73.16. The stock has a market cap of $78.57 billion, a PE ratio of -424.25 and a beta of 2.30. The company has a quick ratio of 4.02, a current ratio of 4.47 and a debt-to-equity ratio of 0.02.

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

Insider Buying and Selling at Rocket Lab

In other news, Director Alexander R. Slusky sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $118.08, for a total transaction of $11,808,000.00. Following the sale, the director owned 434,675 shares of the company’s stock, valued at $51,326,424. This trade represents a 18.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Arjun Kampani sold 23,711 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $71.95, for a total value of $1,706,006.45. Following the transaction, the senior vice president owned 397,988 shares in the company, valued at $28,635,236.60. This trade represents a 5.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 333,449 shares of company stock worth $28,295,233. 8.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Aventura Private Wealth LLC purchased a new position in Rocket Lab in the 4th quarter valued at $25,000. Mcguire Capital Advisors Inc. purchased a new position in Rocket Lab in the 4th quarter valued at $27,000. Zions Bancorporation National Association UT purchased a new position in Rocket Lab in the 4th quarter valued at $28,000. Gordian Capital Singapore Pte Ltd purchased a new position in Rocket Lab in the 4th quarter valued at $29,000. Finally, Reflection Asset Management purchased a new position in Rocket Lab in the 4th quarter valued at $30,000. Hedge funds and other institutional investors own 71.78% of the company’s stock.

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.