Sanctuary Advisors LLC Raises Position in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Sanctuary Advisors LLC raised its position in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 34.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,226 shares of the rocket manufacturer’s stock after acquiring an additional 5,381 shares during the quarter. Sanctuary Advisors LLC’s holdings in Rocket Lab USA were worth $207,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC bought a new stake in shares of Rocket Lab USA in the 2nd quarter worth about $46,000. Amalgamated Bank lifted its position in shares of Rocket Lab USA by 26.7% in the 2nd quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock worth $58,000 after buying an additional 2,538 shares during the last quarter. CIBC Asset Management Inc acquired a new position in Rocket Lab USA in the second quarter valued at approximately $67,000. National Bank of Canada FI boosted its position in Rocket Lab USA by 97.8% during the 2nd quarter. National Bank of Canada FI now owns 20,230 shares of the rocket manufacturer’s stock valued at $92,000 after purchasing an additional 10,000 shares during the period. Finally, Allworth Financial LP grew its position in shares of Rocket Lab USA by 1,827.6% during the third quarter. Allworth Financial LP now owns 9,484 shares of the rocket manufacturer’s stock worth $92,000 after acquiring an additional 8,992 shares during the last quarter. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Insider Transactions at Rocket Lab USA

In related news, insider Frank Klein sold 35,968 shares of Rocket Lab USA stock in a transaction on Monday, November 25th. The stock was sold at an average price of $24.15, for a total transaction of $868,627.20. Following the completion of the sale, the insider now directly owns 1,464,032 shares of the company’s stock, valued at $35,356,372.80. The trade was a 2.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Matthew Ocko sold 2,000,000 shares of the stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $17.73, for a total value of $35,460,000.00. Following the completion of the transaction, the director now directly owns 2,351,135 shares in the company, valued at $41,685,623.55. The trade was a 45.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,114,530 shares of company stock valued at $38,168,400 in the last three months. 13.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on RKLB. KeyCorp raised their price target on shares of Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Wells Fargo & Company increased their target price on shares of Rocket Lab USA from $13.50 to $22.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 11th. Cantor Fitzgerald boosted their target price on Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. The Goldman Sachs Group increased their price objective on Rocket Lab USA from $5.00 to $12.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Finally, TD Cowen raised shares of Rocket Lab USA to a “strong-buy” rating in a research note on Thursday, December 19th. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Rocket Lab USA has an average rating of “Moderate Buy” and a consensus target price of $17.44.

Rocket Lab USA Stock Down 4.3 %

Shares of RKLB opened at $27.22 on Monday. The company has a 50-day moving average price of $19.72 and a two-hundred day moving average price of $11.13. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. The stock has a market cap of $13.61 billion, a price-to-earnings ratio of -73.57 and a beta of 1.96. Rocket Lab USA, Inc. has a 12 month low of $3.47 and a 12 month high of $28.80.

Rocket Lab USA Profile

Rocket Lab USA, Inc, a space company, provides launch services and space systems solutions for the space and defense industries. The company provides launch services, spacecraft design services, spacecraft components, spacecraft manufacturing, and other spacecraft and on-orbit management solutions; and constellation management services, as well as designs and manufactures small and medium-class rockets.