Rocket Lab Corporation (NASDAQ:RKLB – Get Free Report)’s stock price rose 4.8% on Friday . The company traded as high as $86.28 and last traded at $84.54. 33,850,567 shares traded hands during trading, an increase of 36% from the average session volume of 24,911,586 shares. The stock had previously closed at $80.69.
More Rocket Lab News
Here are the key news stories impacting Rocket Lab this week:
- Positive Sentiment: NASA chose Rocket Lab for three dedicated Electron launches supporting the PolSIR and TSIS-2 missions, a meaningful endorsement of Electron’s reliability and the company’s position in government launch services. NASA Selects Rocket Lab to Launch Sun, Earth Sciences Missions
- Positive Sentiment: Rocket Lab completed its 10th consecutive successful Electron launch for Synspective, extending its streak of 100% mission success and reinforcing operational momentum. Rocket Lab Completes 10th Consecutive Launch with 100% Mission Success for Synspective
- Positive Sentiment: The company’s expanding backlog, rising government work, and record Q1 revenue growth continue to support the long-term investment case. Rocket Lab’s NASA Win Tests Key Support After Sharp Pullback
- Neutral Sentiment: Analysts remain generally constructive, but some note the stock still looks expensive after a strong run and recent volatility. Rocket Lab Just Shattered This Space Force Record: Does That Make The Stock a Buy?
- Negative Sentiment: The stock had been under pressure before the latest news, with traders watching whether the recent rally can hold after a sharp pullback from its highs. Rocket Lab’s NASA Win Tests Key Support After Sharp Pullback
Analyst Upgrades and Downgrades
Several research firms recently issued reports on RKLB. Needham & Company LLC lifted their price objective on Rocket Lab from $95.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Deutsche Bank Aktiengesellschaft increased their target price on Rocket Lab from $73.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Cantor Fitzgerald restated an “overweight” rating on shares of Rocket Lab in a research report on Wednesday, May 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rocket Lab in a research note on Tuesday, April 21st. Finally, KeyCorp upgraded Rocket Lab from a “sector weight” rating to an “overweight” rating and set a $135.00 price target for the company in a research report on Monday, June 15th. Three analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Rocket Lab has an average rating of “Moderate Buy” and an average price target of $102.76.
Rocket Lab Trading Up 4.8%
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 company has a fifty day simple moving average of $107.48 and a 200-day simple moving average of $84.85. The company has a market capitalization of $48.93 billion, a PE ratio of -264.19 and a beta of 2.49.
Rocket Lab (NASDAQ:RKLB – Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The rocket manufacturer reported ($0.07) EPS for the quarter, hitting the consensus estimate of ($0.07). The business had revenue of $200.35 million for the quarter, compared to analyst estimates 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 quarter in the previous year, the firm earned ($0.12) EPS. Analysts predict that Rocket Lab Corporation will post -0.29 EPS for the current year.
Insider Activity
In other news, Director Alexander R. Slusky sold 40,000 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $123.60, for a total transaction of $4,944,000.00. Following the completion of the transaction, the director directly owned 334,675 shares in the company, valued at approximately $41,365,830. This represents a 10.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Adam C. Spice sold 62,744 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $142.57, for a total value of $8,945,412.08. Following the sale, the chief financial officer directly owned 983,049 shares of the company’s stock, valued at $140,153,295.93. The trade was a 6.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. In the last quarter, insiders have sold 573,515 shares of company stock worth $76,412,122. 8.40% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of the stock. Aventura Private Wealth LLC purchased a new position in shares of Rocket Lab during the 4th quarter worth approximately $25,000. Mcguire Capital Advisors Inc. purchased a new position in shares of Rocket Lab during the fourth quarter worth $27,000. Zions Bancorporation National Association UT purchased a new position in shares of Rocket Lab during the fourth quarter worth $28,000. EverSource Wealth Advisors LLC grew its stake in shares of Rocket Lab by 109.5% in the second quarter. EverSource Wealth Advisors LLC now owns 796 shares of the rocket manufacturer’s stock valued at $28,000 after buying an additional 416 shares in the last quarter. Finally, Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Rocket Lab in the fourth quarter valued at $29,000. Hedge funds and other institutional investors own 71.78% of the company’s stock.
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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