Alexander Slusky Sells 60,000 Shares of Rocket Lab (NASDAQ:RKLB) Stock

Rocket Lab Corporation (NASDAQ:RKLB) Director Alexander Slusky sold 60,000 shares of Rocket Lab stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $149.40, for a total transaction of $8,964,000.00. Following the transaction, the director owned 374,675 shares of the company’s stock, valued at approximately $55,976,445. The trade was a 13.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Rocket Lab Stock Up 0.8%

RKLB stock opened at $123.32 on Wednesday. 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 company’s 50 day simple moving average is $93.14 and its 200-day simple moving average is $76.94. Rocket Lab Corporation has a 12 month low of $25.24 and a 12 month high of $151.00. The firm has a market capitalization of $71.37 billion, a PE ratio of -385.38 and a beta of 2.49.

Rocket Lab (NASDAQ:RKLB) last issued its quarterly earnings data on Thursday, May 7th. The rocket manufacturer reported ($0.07) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.07). The firm had revenue of $200.35 million during the quarter, compared to the consensus estimate 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 period in the previous year, the firm posted ($0.12) EPS. Equities analysts expect that Rocket Lab Corporation will post -0.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rocket Lab

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Aventura Private Wealth LLC purchased a new stake in shares of Rocket Lab during the 4th quarter worth about $25,000. Mcguire Capital Advisors Inc. purchased a new position in Rocket Lab in the fourth quarter valued at approximately $27,000. Zions Bancorporation National Association UT purchased a new position in Rocket Lab in the fourth quarter valued at approximately $28,000. Gordian Capital Singapore Pte Ltd acquired a new position in Rocket Lab during the fourth quarter valued at approximately $29,000. Finally, Reflection Asset Management purchased a new stake in Rocket Lab during the fourth quarter worth approximately $30,000. 71.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently commented on RKLB shares. Citizens Jmp increased their price objective on Rocket Lab from $85.00 to $95.00 and gave the company a “market outperform” rating in a research note on Friday, May 8th. New Street Research began coverage on shares of Rocket Lab in a report on Wednesday, May 13th. They issued a “buy” rating and a $150.00 target price on the stock. Needham & Company LLC raised their price target on shares of Rocket Lab from $95.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. TD Cowen lifted their price target on shares of 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 boosted their price objective on shares of Rocket Lab from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, April 17th. Three investment 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 given a Sell rating to the stock. According to data from MarketBeat, Rocket Lab presently has an average rating of “Moderate Buy” and a consensus target price of $97.19.

Trending Headlines about Rocket Lab

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

• Negative Sentiment: RKLB is falling with the broader space group after weekend explosion news sparked renewed concern about launch risk and execution in the sector. Rocket Lab (RKLB) Loses 14.7% on Explosion News
• Negative Sentiment: Several insider sales were disclosed, including transactions by senior executives and a director, which can create near-term sentiment pressure even when sales are pre-planned. Rocket Lab (NASDAQ:RKLB) Insider Sells $513,345.00 in Stock
• Negative Sentiment: Commentary from multiple outlets says Rocket Lab may be vulnerable to a valuation reset as investors rotate away from high-flying space names ahead of the SpaceX IPO. Rocket Lab Stock Is Tumbling Today: What’s Happening?
• Neutral Sentiment: On the positive side, Rocket Lab continues to expand its Space Systems business, which now generates more revenue than Launch Services and supports the long-term growth case. How Is Rocket Lab Expanding Its Role Across Space Infrastructure?
• Neutral Sentiment: Analysts and market commentary still highlight Neutron, backlog growth, and Rocket Lab’s role in the broader commercial space buildout as longer-term catalysts. Will the SpaceX IPO Put These 5 Public Space Stocks Into a Higher Orbit?

About Rocket Lab

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.