Rocket Lab (NASDAQ:RKLB) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of Rocket Lab (NASDAQ:RKLB) from a hold rating to a sell rating in a report issued on Saturday.

Other analysts also recently issued research reports about the stock. The Goldman Sachs Group boosted their price objective on shares of Rocket Lab from $47.00 to $69.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 20th. Roth Mkm reiterated a “buy” rating and set a $75.00 price target on shares of Rocket Lab in a research note on Tuesday, November 11th. TD Cowen restated a “buy” rating on shares of Rocket Lab in a research note on Thursday, January 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rocket Lab in a report on Thursday, January 22nd. Finally, Robert W. Baird upgraded Rocket Lab to a “strong-buy” rating in a research report on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $72.92.

Rocket Lab Trading Down 7.4%

NASDAQ:RKLB opened at $74.15 on Friday. Rocket Lab has a 1 year low of $14.71 and a 1 year high of $99.58. The stock has a market cap of $39.61 billion, a P/E ratio of -195.13 and a beta of 2.16. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.83 and a current ratio of 3.18. The stock has a 50-day simple moving average of $70.54 and a 200-day simple moving average of $57.83.

Rocket Lab (NASDAQ:RKLB) last issued its earnings results on Monday, November 10th. The rocket manufacturer reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.02. The business had revenue of $155.08 million for the quarter, compared to analyst estimates of $152.45 million. Rocket Lab had a negative return on equity of 27.26% and a negative net margin of 35.64%.The business’s quarterly revenue was up 48.0% on a year-over-year basis. During the same quarter last year, the company earned ($0.10) EPS. As a group, analysts anticipate that Rocket Lab will post -0.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Frank Klein sold 100,000 shares of the stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $72.95, for a total transaction of $7,295,000.00. Following the completion of the sale, the insider owned 1,169,487 shares in the company, valued at approximately $85,314,076.65. This represents a 7.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Nina Armagno sold 27,314 shares of the firm’s stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $68.21, for a total value of $1,863,087.94. Following the transaction, the director directly owned 108,940 shares in the company, valued at approximately $7,430,797.40. This represents a 20.05% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 4,306,150 shares of company stock valued at $271,865,732. 11.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Rocket Lab

Hedge funds have recently modified their holdings of the stock. Wilmington Savings Fund Society FSB acquired a new position in Rocket Lab in the 3rd quarter valued at $25,000. Hara Capital LLC purchased a new stake in shares of Rocket Lab in the third quarter valued at about $25,000. Aventura Private Wealth LLC acquired a new position in shares of Rocket Lab during the fourth quarter worth about $25,000. UMB Bank n.a. increased its stake in shares of 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 acquiring an additional 423 shares during the period. Finally, Sound Income Strategies LLC purchased a new position in Rocket Lab during the third quarter worth about $27,000. 71.78% of the stock is owned by institutional investors and hedge funds.

Rocket Lab Company Profile

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.