Alexander Slusky Sells 40,000 Shares of Rocket Lab (NASDAQ:RKLB) Stock

Rocket Lab Corporation (NASDAQ:RKLB) Director Alexander Slusky sold 40,000 shares of the stock in a transaction that occurred 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 sale, the director owned 334,675 shares in the company, valued at $41,365,830. This represents a 10.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Rocket Lab Price Performance

Shares of NASDAQ:RKLB opened at $110.08 on Friday. Rocket Lab Corporation has a one year low of $25.24 and a one year high of $151.00. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.47 and a quick ratio of 4.02. The company has a market cap of $63.71 billion, a price-to-earnings ratio of -344.00 and a beta of 2.49. The firm has a 50 day simple moving average of $97.02 and a 200 day simple moving average of $78.69.

Rocket Lab (NASDAQ:RKLB) last issued its earnings results on Thursday, May 7th. The rocket manufacturer reported ($0.07) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.07). Rocket Lab had a negative net margin of 26.87% and a negative return on equity of 11.72%. The firm had revenue of $200.35 million for the quarter, compared to analyst estimates of $189.65 million. During the same quarter last year, the business posted ($0.12) earnings per share. The company’s quarterly revenue was up 63.4% on a year-over-year basis. Research analysts predict that Rocket Lab Corporation will post -0.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rocket Lab

Large investors have recently modified their holdings of the business. Aventura Private Wealth LLC bought a new position in Rocket Lab during the fourth quarter worth $25,000. UMB Bank n.a. raised its stake in Rocket Lab by 352.5% during the third quarter. UMB Bank n.a. now owns 543 shares of the rocket manufacturer’s stock worth $26,000 after buying an additional 423 shares during the last quarter. Mcguire Capital Advisors Inc. bought a new position in Rocket Lab during the fourth quarter worth $27,000. Zions Bancorporation National Association UT bought a new position in Rocket Lab during the fourth quarter worth $28,000. Finally, EverSource Wealth Advisors LLC raised its stake in Rocket Lab by 109.5% during the second quarter. EverSource Wealth Advisors LLC now owns 796 shares of the rocket manufacturer’s stock worth $28,000 after buying an additional 416 shares during the last quarter. Institutional investors own 71.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. New Street Research assumed coverage on shares of Rocket Lab in a research report on Wednesday, May 13th. They issued a “buy” rating and a $150.00 target price on the stock. Wall Street Zen upgraded shares of Rocket Lab from a “sell” rating to a “hold” rating in a research report on Sunday, February 8th. Zacks Research downgraded shares of Rocket Lab from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 10th. Wells Fargo & Company assumed coverage on shares of Rocket Lab in a research note on Wednesday, April 1st. They set an “equal weight” rating and a $60.00 price target for the company. Finally, TD Cowen raised their price target on shares of Rocket Lab from $90.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $98.88.

Trending Headlines about Rocket Lab

Here are the key news stories impacting Rocket Lab this week:

• Positive Sentiment: Wall Street sentiment improved after Stifel raised its price target on Rocket Lab to a Street-high $132 from $110 and kept a Buy rating, reinforcing the view that growth can continue. Rocket Lab Stock (RKLB) Lands a New Street-High Target as Top Stifel Analyst Sees Stronger Growth Ahead
• Positive Sentiment: Recent coverage continues to highlight Rocket Lab’s strong operating momentum, including its first-ever $200 million revenue quarter, 63%+ year-over-year revenue growth, expanding gross margin, and a backlog that reached $2.2 billion. Rocket Lab: Don’t Hold Your Breath On Neutron
• Positive Sentiment: The broader space sector is getting a lift from SpaceX IPO excitement, and Rocket Lab is being viewed as a public-market way to play the space race, which has helped sentiment across RKLB and other space stocks. There’s More to Space Stocks Than SpaceX
• Neutral Sentiment: Some analysts and commentators are warning that the stock’s big rally may have outrun fundamentals, pointing to valuation risk and possible volatility if expectations become harder to beat. We’re Holding Rocket Lab Despite 356% Rally
• Negative Sentiment: Bearish pieces argue investors should be cautious ahead of a possible SpaceX IPO “reality check,” with concerns that competition and sky-high expectations could eventually pressure RKLB’s multiple. Rocket Lab: Sell Before The SpaceX IPO Reality Check

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.