1,002 Shares in Rocket Lab USA, Inc. (NASDAQ:RKLB) Bought by Sandy Spring Bank

Sandy Spring Bank bought a new position in Rocket Lab USA, Inc. (NASDAQ:RKLB) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 1,002 shares of the rocket manufacturer’s stock, valued at approximately $26,000.

Several other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC grew its position in Rocket Lab USA by 12.2% in the 3rd quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock worth $80,317,000 after purchasing an additional 898,223 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Rocket Lab USA in the 4th quarter worth $21,896,000. Charles Schwab Investment Management Inc. grew its position in Rocket Lab USA by 22.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer’s stock worth $28,006,000 after purchasing an additional 532,207 shares during the last quarter. Ieq Capital LLC acquired a new stake in Rocket Lab USA in the 4th quarter worth $8,775,000. Finally, Quadrature Capital Ltd acquired a new stake in Rocket Lab USA in the 3rd quarter worth $2,651,000. Institutional investors own 71.78% of the company’s stock.

Insider Buying and Selling at Rocket Lab USA

In other Rocket Lab USA news, insider Frank Klein sold 1,835 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $19.93, for a total value of $36,571.55. Following the transaction, the insider now directly owns 1,417,644 shares in the company, valued at $28,253,644.92. The trade was a 0.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 13.70% of the company’s stock.

Wall Street Analysts Forecast Growth

RKLB has been the topic of several research analyst reports. The Goldman Sachs Group raised their price target on shares of Rocket Lab USA from $12.00 to $13.50 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. Stifel Nicolaus raised their price target on shares of Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. KeyCorp decreased their price target on shares of Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. TD Cowen upgraded shares of Rocket Lab USA to a “strong-buy” rating in a research report on Monday, February 24th. Finally, Citigroup decreased their target price on shares of Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $23.06.

Rocket Lab USA Price Performance

NASDAQ:RKLB opened at $18.94 on Friday. The firm has a market cap of $8.59 billion, a PE ratio of -51.19 and a beta of 2.06. Rocket Lab USA, Inc. has a 12 month low of $3.47 and a 12 month high of $33.34. 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 company’s 50-day moving average price is $24.20 and its two-hundred day moving average price is $19.18.

Rocket Lab USA (NASDAQ:RKLB) last released its quarterly earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). The firm had revenue of $132.39 million during the quarter, compared to analyst estimates of $130.58 million. Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. On average, equities analysts anticipate that Rocket Lab USA, Inc. will post -0.38 EPS for the current fiscal year.

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.