Merline Saintil Sells 18,126 Shares of Rocket Lab (NASDAQ:RKLB) Stock

Rocket Lab Corporation (NASDAQ:RKLB) Director Merline Saintil sold 18,126 shares of the business’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $75.04, for a total value of $1,360,175.04. Following the sale, the director owned 261,903 shares of the company’s stock, valued at approximately $19,653,201.12. The trade was a 6.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Wednesday, January 14th, Merline Saintil sold 12,500 shares of Rocket Lab stock. The shares were sold at an average price of $90.00, for a total value of $1,125,000.00.
• On Tuesday, January 13th, Merline Saintil sold 96,000 shares of Rocket Lab stock. The stock was sold at an average price of $86.58, for a total value of $8,311,680.00.
• On Friday, December 19th, Merline Saintil sold 5,000 shares of Rocket Lab stock. The stock was sold at an average price of $65.00, for a total value of $325,000.00.
• On Wednesday, December 17th, Merline Saintil sold 5,000 shares of Rocket Lab stock. The stock was sold at an average price of $54.46, for a total value of $272,300.00.
• On Friday, December 12th, Merline Saintil sold 15,000 shares of Rocket Lab stock. The shares were sold at an average price of $65.00, for a total transaction of $975,000.00.

Rocket Lab Trading Up 2.0%

Shares of NASDAQ RKLB traded up $1.37 during mid-day trading on Monday, hitting $71.48. The company’s stock had a trading volume of 18,372,828 shares, compared to its average volume of 15,852,181. Rocket Lab Corporation has a one year low of $14.71 and a one year high of $99.58. The company’s fifty day simple moving average is $77.63 and its 200-day simple moving average is $62.44. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.08 and a quick ratio of 3.61. The stock has a market cap of $38.18 billion, a price-to-earnings ratio of -193.18 and a beta of 2.20.

Institutional Trading of Rocket Lab

Several hedge funds have recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB acquired a new position in Rocket Lab in the third quarter valued at about $25,000. Hara Capital LLC bought a new position in shares of Rocket Lab during the 3rd quarter valued at about $25,000. Aventura Private Wealth LLC acquired a new position in shares of Rocket Lab in the 4th quarter valued at approximately $25,000. UMB Bank n.a. increased its stake in Rocket Lab by 352.5% during the 3rd quarter. UMB Bank n.a. now owns 543 shares of the rocket manufacturer’s stock worth $26,000 after purchasing an additional 423 shares in the last quarter. Finally, Sound Income Strategies LLC acquired a new stake in Rocket Lab during the 3rd quarter worth approximately $27,000. Institutional investors and hedge funds own 71.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on RKLB. Needham & Company LLC reduced their price objective on shares of Rocket Lab from $110.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. Morgan Stanley raised Rocket Lab from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $67.00 to $105.00 in a research note on Friday, January 16th. Stifel Nicolaus raised their price target on Rocket Lab from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, December 22nd. Roth Mkm reaffirmed a “buy” rating and set a $75.00 price objective on shares of Rocket Lab in a research note on Tuesday, November 11th. Finally, Citigroup reiterated a “market perform” rating on shares of Rocket Lab in a report on Wednesday, November 12th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $75.92.

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.