Rocket Lab Corporation (NASDAQ:RKLB – Get Free Report) insider Marvin Bradford Clevenger sold 15,549 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $142.57, for a total transaction of $2,216,820.93. Following the transaction, the insider directly owned 477,475 shares of the company’s stock, valued at $68,073,610.75. This represents a 3.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Rocket Lab Stock Performance
Shares of RKLB traded down $2.20 during trading hours on Thursday, reaching $148.03. 20,353,691 shares of the company traded hands, compared to its average volume of 28,300,480. The stock’s fifty day moving average is $90.65 and its 200 day moving average is $75.80. The stock has a market cap of $85.67 billion, a P/E ratio of -462.59 and a beta of 2.30. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.02 and a current ratio of 4.47. Rocket Lab Corporation has a 1-year low of $25.24 and a 1-year high of $151.00.
Rocket Lab (NASDAQ:RKLB – Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The rocket manufacturer reported ($0.07) earnings per share for the quarter, hitting the consensus estimate of ($0.07). The firm 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 company’s quarterly revenue was up 63.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.12) earnings per share. Equities research analysts anticipate that Rocket Lab Corporation will post -0.29 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
View Our Latest Research Report on RKLB
Institutional Investors Weigh In On Rocket Lab
A number of hedge funds and other institutional investors have recently made changes to their positions in RKLB. Arizona State Retirement System raised its stake in Rocket Lab by 13.6% in the third quarter. Arizona State Retirement System now owns 127,794 shares of the rocket manufacturer’s stock valued at $6,123,000 after purchasing an additional 15,307 shares in the last quarter. Swedbank AB raised its stake in Rocket Lab by 8.2% in the fourth quarter. Swedbank AB now owns 509,250 shares of the rocket manufacturer’s stock valued at $35,525,000 after purchasing an additional 38,770 shares in the last quarter. Firsthand Capital Management Inc. raised its stake in Rocket Lab by 40.0% in the third quarter. Firsthand Capital Management Inc. now owns 70,000 shares of the rocket manufacturer’s stock valued at $3,354,000 after purchasing an additional 20,000 shares in the last quarter. Swiss National Bank raised its stake in Rocket Lab by 67.7% in the third quarter. Swiss National Bank now owns 1,243,630 shares of the rocket manufacturer’s stock valued at $59,582,000 after purchasing an additional 501,830 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Rocket Lab by 13.4% in the fourth quarter. Vanguard Group Inc. now owns 47,420,192 shares of the rocket manufacturer’s stock valued at $3,308,033,000 after purchasing an additional 5,610,469 shares in the last quarter. 71.78% of the stock is currently owned by institutional investors and hedge funds.
Key Rocket Lab News
Here are the key news stories impacting Rocket Lab this week:
- Positive Sentiment: Rocket Lab announced it passed the System Requirements Review for the Space Development Agency’s Tracking Layer Tranche 3 program, a key step that supports its role in a proposed missile-defense constellation. Rocket Lab Achieves Milestone for Missile Defense Constellation, Passes System Requirements Review for SDA Tracking Layer Tranche 3
- Positive Sentiment: The company recently won a $90 million U.S. Space Force contract to build geostationary satellites, adding to investor confidence that Rocket Lab is expanding its defense footprint and government-contract pipeline.
- Positive Sentiment: Rocket Lab’s defense awards have now surpassed $1.3 billion, a headline that has helped fuel the stock’s recent rerating as investors see more long-term revenue potential from national-security programs.
- Positive Sentiment: Space-sector enthusiasm has broadened after SpaceX’s IPO filing, lifting attention on public peers like Rocket Lab as investors speculate the group could benefit from renewed capital inflows and higher sector valuations.
- Neutral Sentiment: Social-media and analyst commentary remains bullish overall, but some traders are taking profits after the strong run, which may be adding short-term choppiness to the share price.
- Negative Sentiment: Insider trading data shows only sales and no purchases over the past six months, which could weigh on sentiment even though it does not necessarily change the company’s operating outlook.
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.
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