Rocket Lab (NASDAQ:RKLB) SVP Sells $10,159,100.00 in Stock

Rocket Lab Corporation (NASDAQ:RKLBGet Free Report) SVP Arjun Kampani sold 70,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $145.13, for a total transaction of $10,159,100.00. Following the sale, the senior vice president directly owned 376,509 shares of the company’s stock, valued at approximately $54,642,751.17. This trade represents a 15.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Arjun Kampani also recently made the following trade(s):

  • On Tuesday, May 26th, Arjun Kampani sold 28,668 shares of Rocket Lab stock. The stock was sold at an average price of $142.57, for a total transaction of $4,087,196.76.
  • On Wednesday, March 4th, Arjun Kampani sold 23,711 shares of Rocket Lab stock. The stock was sold at an average price of $71.95, for a total transaction of $1,706,006.45.
  • On Monday, March 2nd, Arjun Kampani sold 28,761 shares of Rocket Lab stock. The shares were sold at an average price of $69.59, for a total transaction of $2,001,477.99.

Rocket Lab Stock Down 1.5%

NASDAQ RKLB traded down $2.20 during mid-day trading on Thursday, hitting $148.03. The company’s stock had a trading volume of 20,353,691 shares, compared to its average volume of 28,300,480. The company’s 50 day simple moving average is $90.65 and its 200 day simple moving average is $75.80. Rocket Lab Corporation has a twelve month low of $25.24 and a twelve month high of $151.00. The company has a current ratio of 4.47, a quick ratio of 4.02 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $85.67 billion, a price-to-earnings ratio of -462.59 and a beta of 2.30.

Rocket Lab (NASDAQ:RKLBGet Free Report) last posted its quarterly earnings results on Thursday, May 7th. The rocket manufacturer reported ($0.07) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.07). Rocket Lab had a negative net margin of 26.87% and a negative return on equity of 11.72%. The business had revenue of $200.35 million during the quarter, compared to the consensus estimate of $189.65 million. During the same quarter last year, the firm posted ($0.12) EPS. Rocket Lab’s revenue was up 63.4% compared to the same quarter last year. Analysts anticipate that Rocket Lab Corporation will post -0.29 earnings per share for the current year.

Institutional Investors Weigh In On Rocket Lab

Hedge funds have recently modified their holdings of the stock. Baillie Gifford & Co. raised its stake in Rocket Lab by 47.2% in the 4th quarter. Baillie Gifford & Co. now owns 17,851,446 shares of the rocket manufacturer’s stock valued at $1,245,317,000 after acquiring an additional 5,725,536 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Rocket Lab by 13.4% in the fourth quarter. Vanguard Group Inc. now owns 47,420,192 shares of the rocket manufacturer’s stock worth $3,308,033,000 after buying an additional 5,610,469 shares in the last quarter. Norges Bank purchased a new stake in shares of Rocket Lab in the fourth quarter worth about $341,036,000. Alliancebernstein L.P. lifted its holdings in shares of Rocket Lab by 818.8% in the third quarter. Alliancebernstein L.P. now owns 2,190,132 shares of the rocket manufacturer’s stock worth $104,929,000 after buying an additional 1,951,755 shares in the last quarter. Finally, Capital World Investors lifted its holdings in shares of Rocket Lab by 12.0% in the fourth quarter. Capital World Investors now owns 16,200,726 shares of the rocket manufacturer’s stock worth $1,130,172,000 after buying an additional 1,738,623 shares in the last quarter. Institutional investors own 71.78% of the company’s stock.

Analysts Set New Price Targets

RKLB has been the subject of several research reports. Wells Fargo & Company initiated coverage on shares of Rocket Lab in a research report on Wednesday, April 1st. They issued an “equal weight” rating and a $60.00 price target for the company. New Street Research initiated coverage on shares of Rocket Lab in a research report on Wednesday, May 13th. They issued a “buy” rating and a $150.00 price target for the company. Craig Hallum raised shares of Rocket Lab from a “hold” rating to a “buy” rating and set a $98.00 price target for the company in a research report on Friday, May 8th. Citizens Jmp lifted their price target on shares of Rocket Lab from $85.00 to $95.00 and gave the company a “market outperform” rating in a research report on Friday, May 8th. Finally, Roth Mkm lifted their price target 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 issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $97.19.

View Our Latest Stock Analysis on RKLB

Key Stories Impacting Rocket Lab

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

(Get Free Report)

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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Insider Buying and Selling by Quarter for Rocket Lab (NASDAQ:RKLB)

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