Rocket Lab (NASDAQ:RKLB) CEO Sells $51,432,298.58 in Stock

Rocket Lab Corporation (NASDAQ:RKLB) CEO Peter Beck sold 939,746 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $54.73, for a total value of $51,432,298.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Peter Beck also recently made the following trade(s):

• On Monday, December 15th, Peter Beck sold 1,560,254 shares of Rocket Lab stock. The stock was sold at an average price of $57.47, for a total value of $89,667,797.38.
• On Monday, November 24th, Peter Beck sold 18,857 shares of Rocket Lab stock. The shares were sold at an average price of $40.65, for a total value of $766,537.05.

Rocket Lab Price Performance

NASDAQ:RKLB traded up $0.08 during trading hours on Tuesday, reaching $55.49. The company had a trading volume of 22,333,315 shares, compared to its average volume of 19,179,260. The company has a quick ratio of 2.83, a current ratio of 3.18 and a debt-to-equity ratio of 0.32. The stock has a 50-day moving average of $54.74 and a two-hundred day moving average of $46.60. Rocket Lab Corporation has a one year low of $14.71 and a one year high of $73.97. The firm has a market capitalization of $29.64 billion, a PE ratio of -146.03 and a beta of 2.20.

Rocket Lab (NASDAQ:RKLB) last posted its earnings results on Monday, November 10th. The rocket manufacturer reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.02. The business had revenue of $155.08 million for the quarter, compared to analyst estimates of $152.45 million. Rocket Lab had a negative net margin of 35.64% and a negative return on equity of 27.26%. The firm’s quarterly revenue was up 48.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.10) EPS. Analysts forecast that Rocket Lab Corporation will post -0.38 earnings per share for the current year.

Institutional Trading of Rocket Lab

A number of institutional investors have recently modified their holdings of the company. Kingstone Capital Partners Texas LLC acquired a new position in Rocket Lab during the 2nd quarter worth approximately $192,918,000. Sender Co & Partners Inc. bought a new stake in shares of Rocket Lab during the first quarter worth $621,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Rocket Lab by 44.7% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 992,777 shares of the rocket manufacturer’s stock worth $35,512,000 after buying an additional 306,713 shares during the last quarter. McGuire Investment Group LLC increased its holdings in shares of Rocket Lab by 91.3% during the second quarter. McGuire Investment Group LLC now owns 196,107 shares of the rocket manufacturer’s stock worth $7,015,000 after buying an additional 93,613 shares in the last quarter. Finally, Royal Bank of Canada lifted its stake in shares of Rocket Lab by 6.4% in the 1st quarter. Royal Bank of Canada now owns 2,128,536 shares of the rocket manufacturer’s stock valued at $38,057,000 after acquiring an additional 128,907 shares during the last quarter. 71.78% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on RKLB shares. Cantor Fitzgerald reissued an “overweight” rating on shares of Rocket Lab in a research note on Wednesday, December 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rocket Lab in a research report on Wednesday, October 8th. Bank of America upped their target price on shares of Rocket Lab from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, November 19th. Morgan Stanley lowered their target price 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. Finally, KeyCorp increased their price target on 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 given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $58.17.

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.