Rocket Lab (NASDAQ:RKLB) CFO Adam Spice Sells 62,744 Shares of Stock

Rocket Lab Corporation (NASDAQ:RKLBGet Free Report) CFO Adam Spice sold 62,744 shares of the company’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $69.59, for a total value of $4,366,354.96. Following the transaction, the chief financial officer directly owned 1,296,824 shares of the company’s stock, valued at approximately $90,245,982.16. This represents a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Rocket Lab Price Performance

RKLB stock opened at $71.91 on Thursday. The business has a 50 day moving average price of $77.74 and a 200 day moving average price of $61.70. The company has a quick ratio of 2.83, a current ratio of 4.08 and a debt-to-equity ratio of 0.10. The stock has a market cap of $38.41 billion, a price-to-earnings ratio of -194.35 and a beta of 2.20. Rocket Lab Corporation has a fifty-two week low of $14.71 and a fifty-two week high of $99.58.

Rocket Lab News Summary

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

Analyst Ratings Changes

A number of research analysts recently commented on RKLB shares. The Goldman Sachs Group increased their target price on shares of Rocket Lab from $47.00 to $69.00 and gave the company a “neutral” rating in a research report on Tuesday, January 20th. Roth Mkm reiterated a “buy” rating and set a $75.00 target price on shares of Rocket Lab in a research report on Tuesday, November 11th. Stifel Nicolaus boosted their target price on Rocket Lab from $75.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 22nd. Bank of America raised their price target on Rocket Lab from $60.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. Finally, Citizens Jmp reiterated a “market perform” rating on shares of Rocket Lab in a research note on Friday, February 27th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $75.92.

Get Our Latest Research Report on RKLB

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Baillie Gifford & Co. grew its position in Rocket Lab by 176.1% in the 3rd quarter. Baillie Gifford & Co. now owns 12,125,910 shares of the rocket manufacturer’s stock valued at $580,952,000 after buying an additional 7,734,788 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Rocket Lab by 13.4% in the 4th quarter. Vanguard Group Inc. now owns 47,420,192 shares of the rocket manufacturer’s stock worth $3,308,033,000 after acquiring an additional 5,610,469 shares during the period. Norges Bank purchased a new stake in shares of Rocket Lab in the fourth quarter valued at about $341,036,000. Invesco Ltd. increased its stake in shares of Rocket Lab by 67.0% during the second quarter. Invesco Ltd. now owns 6,242,304 shares of the rocket manufacturer’s stock worth $223,287,000 after acquiring an additional 2,504,054 shares during the period. Finally, Marex Group plc purchased a new position in Rocket Lab during the second quarter worth about $74,359,000. Institutional investors and hedge funds own 71.78% of the company’s stock.

Rocket Lab Company Profile

(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.

Featured Articles

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

Receive News & Ratings for Rocket Lab Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rocket Lab and related companies with MarketBeat.com's FREE daily email newsletter.