Sanctuary Advisors LLC Invests $76,000 in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Sanctuary Advisors LLC bought a new position in Rocket Lab USA, Inc. (NASDAQ:RKLB) during the second quarter, according to its most recent filing with the SEC. The firm bought 15,845 shares of the rocket manufacturer’s stock, valued at approximately $76,000.

Several other hedge funds have also bought and sold shares of the business. International Assets Investment Management LLC bought a new position in shares of Rocket Lab USA in the second quarter valued at $46,000. Baxter Bros Inc. bought a new position in Rocket Lab USA in the 2nd quarter valued at about $48,000. Advisors Asset Management Inc. lifted its position in Rocket Lab USA by 59.4% in the 1st quarter. Advisors Asset Management Inc. now owns 10,816 shares of the rocket manufacturer’s stock valued at $44,000 after acquiring an additional 4,032 shares in the last quarter. Amalgamated Bank boosted its stake in Rocket Lab USA by 26.7% during the 2nd quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock valued at $58,000 after purchasing an additional 2,538 shares during the last quarter. Finally, CIBC Asset Management Inc purchased a new position in shares of Rocket Lab USA during the second quarter valued at approximately $67,000. Institutional investors and hedge funds own 71.78% of the company’s stock.

Rocket Lab USA Price Performance

Shares of NASDAQ:RKLB opened at $11.26 on Tuesday. The company has a quick ratio of 2.43, a current ratio of 2.82 and a debt-to-equity ratio of 0.90. Rocket Lab USA, Inc. has a twelve month low of $3.47 and a twelve month high of $11.29. The stock has a market capitalization of $5.59 billion, a PE ratio of -32.17 and a beta of 1.32. The firm’s 50 day moving average price is $7.81 and its 200-day moving average price is $5.67.

Rocket Lab USA (NASDAQ:RKLB) last announced its quarterly earnings results on Thursday, August 8th. The rocket manufacturer reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.02. The company had revenue of $106.25 million for the quarter, compared to the consensus estimate of $105.47 million. Rocket Lab USA had a negative net margin of 54.17% and a negative return on equity of 34.12%. Rocket Lab USA’s revenue for the quarter was up 71.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.10) EPS. Equities research analysts expect that Rocket Lab USA, Inc. will post -0.39 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently issued reports on RKLB shares. The Goldman Sachs Group upped their target price on shares of Rocket Lab USA from $4.50 to $5.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. KeyCorp boosted their target price on Rocket Lab USA from $8.00 to $11.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Citigroup increased their price target on Rocket Lab USA from $5.45 to $7.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Morgan Stanley cut Rocket Lab USA from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $8.00 to $6.00 in a research report on Monday, July 15th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $7.00 target price on shares of Rocket Lab USA in a research report on Monday, September 30th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $6.75.

Insider Activity at Rocket Lab USA

In other Rocket Lab USA news, CFO Adam C. Spice sold 62,512 shares of Rocket Lab USA stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total value of $435,083.52. Following the sale, the chief financial officer now owns 1,321,165 shares of the company’s stock, valued at $9,195,308.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, General Counsel Arjun Kampani sold 28,563 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total transaction of $198,798.48. Following the transaction, the general counsel now directly owns 637,558 shares of the company’s stock, valued at approximately $4,437,403.68. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Adam C. Spice sold 62,512 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total value of $435,083.52. Following the transaction, the chief financial officer now directly owns 1,321,165 shares in the company, valued at $9,195,308.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 130,521 shares of company stock valued at $906,059. Insiders own 13.70% of the company’s stock.

Rocket Lab USA Company 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.