Insider Selling: Rocket Lab (NASDAQ:RKLB) Director Sells 18,126 Shares of Stock

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

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

• On Wednesday, January 14th, Merline Saintil sold 12,500 shares of Rocket Lab stock. The stock was sold at an average price of $90.00, for a total transaction of $1,125,000.00.
• On Tuesday, January 13th, Merline Saintil sold 96,000 shares of Rocket Lab stock. The shares were 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 value of $975,000.00.

Rocket Lab Price Performance

Rocket Lab stock traded up $1.37 during mid-day trading on Monday, hitting $71.48. 18,372,828 shares of the company were exchanged, compared to its average volume of 15,852,181. The company has a market capitalization of $38.18 billion, a PE ratio of -193.18 and a beta of 2.20. The business has a fifty day moving average of $77.63 and a 200 day moving average of $62.44. Rocket Lab Corporation has a 1-year low of $14.71 and a 1-year high of $99.58. The company has a quick ratio of 3.61, a current ratio of 4.08 and a debt-to-equity ratio of 0.10.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Citigroup restated a “market perform” rating on shares of Rocket Lab in a research report on Wednesday, November 12th. The Goldman Sachs Group lifted their target price on shares of Rocket Lab from $47.00 to $69.00 and gave the company a “neutral” rating in a research note on Tuesday, January 20th. Roth Mkm reissued a “buy” rating and issued a $75.00 target price on shares of Rocket Lab in a report on Tuesday, November 11th. Stifel Nicolaus increased 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. Finally, Wall Street Zen raised Rocket Lab from a “sell” rating to a “hold” rating in a report on Sunday, February 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.92.

Hedge Funds Weigh In On Rocket Lab

A number of large investors have recently modified their holdings of the stock. Corient Private Wealth LLC grew its stake in shares of Rocket Lab by 5.2% during the fourth quarter. Corient Private Wealth LLC now owns 234,037 shares of the rocket manufacturer’s stock valued at $16,323,000 after purchasing an additional 11,541 shares during the last quarter. Hsbc Holdings PLC raised its position in Rocket Lab by 613.9% in the 4th quarter. Hsbc Holdings PLC now owns 1,570,608 shares of the rocket manufacturer’s stock worth $110,666,000 after purchasing an additional 1,350,602 shares during the last quarter. Pure Financial Advisors LLC bought a new position in Rocket Lab in the 4th quarter worth approximately $228,000. SHP Wealth Management acquired a new position in Rocket Lab during the 4th quarter worth $51,000. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in Rocket Lab by 19,447.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 307,873 shares of the rocket manufacturer’s stock worth $21,477,000 after buying an additional 306,298 shares in the last quarter. 71.78% of the stock is currently owned by institutional investors and hedge funds.

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.