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

Sanctuary Advisors LLC increased its stake in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 200.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 63,679 shares of the rocket manufacturer’s stock after acquiring an additional 42,453 shares during the period. Sanctuary Advisors LLC’s holdings in Rocket Lab USA were worth $1,622,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of RKLB. Wingate Wealth Advisors Inc. acquired a new stake in shares of Rocket Lab USA during the 4th quarter worth approximately $40,000. New Millennium Group LLC grew its position in Rocket Lab USA by 105.0% during the fourth quarter. New Millennium Group LLC now owns 2,050 shares of the rocket manufacturer’s stock valued at $52,000 after buying an additional 1,050 shares during the period. Newbridge Financial Services Group Inc. acquired a new stake in Rocket Lab USA during the fourth quarter valued at $76,000. Principal Securities Inc. increased its holdings in Rocket Lab USA by 137.3% in the fourth quarter. Principal Securities Inc. now owns 5,356 shares of the rocket manufacturer’s stock valued at $136,000 after buying an additional 3,099 shares in the last quarter. Finally, Avior Wealth Management LLC raised its position in shares of Rocket Lab USA by 478.6% in the fourth quarter. Avior Wealth Management LLC now owns 6,966 shares of the rocket manufacturer’s stock worth $177,000 after acquiring an additional 5,762 shares during the period. 71.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Nina Armagno sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $23.63, for a total transaction of $236,300.00. Following the transaction, the director now directly owns 132,294 shares in the company, valued at $3,126,107.22. The trade was a 7.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Alexander R. Slusky sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $23.00, for a total value of $1,150,000.00. Following the completion of the sale, the director now owns 534,675 shares of the company’s stock, valued at $12,297,525. This trade represents a 8.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 13.70% of the stock is currently owned by company insiders.

Rocket Lab USA Trading Down 4.5 %

Shares of RKLB stock opened at $22.49 on Tuesday. Rocket Lab USA, Inc. has a fifty-two week low of $3.47 and a fifty-two week high of $33.34. The firm has a market capitalization of $11.24 billion, a P/E ratio of -60.78 and a beta of 1.99. The stock’s fifty day moving average is $27.09 and its two-hundred day moving average is $17.45. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on RKLB shares. Cantor Fitzgerald raised their target price on Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. TD Cowen raised Rocket Lab USA to a “strong-buy” rating in a report on Thursday, December 19th. Stifel Nicolaus boosted their price objective on Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Citigroup increased their target price on Rocket Lab USA from $22.00 to $35.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Finally, Wells Fargo & Company boosted their price target on shares of Rocket Lab USA from $13.50 to $22.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 11th. Five equities research 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $22.28.

About Rocket Lab USA

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.