Sandy Spring Bank Makes New Investment in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Sandy Spring Bank bought a new position in Rocket Lab USA, Inc. (NASDAQ:RKLB) in the fourth quarter, HoldingsChannel.com reports. The fund bought 1,002 shares of the rocket manufacturer’s stock, valued at approximately $26,000.

A number of other institutional investors also recently modified their holdings of RKLB. Spectrum Wealth Counsel LLC bought a new stake in shares of Rocket Lab USA during the fourth quarter worth approximately $25,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Rocket Lab USA during the fourth quarter worth approximately $40,000. New Millennium Group LLC raised its stake in shares of 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 worth $52,000 after buying an additional 1,050 shares during the last quarter. AlphaQuest LLC bought a new stake in shares of Rocket Lab USA during the fourth quarter worth approximately $52,000. Finally, Smartleaf Asset Management LLC raised its stake in shares of Rocket Lab USA by 1,565.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,015 shares of the rocket manufacturer’s stock worth $53,000 after buying an additional 1,894 shares during the last quarter. 71.78% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Frank Klein sold 44,553 shares of the stock in a transaction on Friday, March 14th. The shares were sold at an average price of $18.18, for a total transaction of $809,973.54. Following the completion of the transaction, the insider now owns 1,419,479 shares in the company, valued at approximately $25,806,128.22. This represents a 3.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 13.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

RKLB has been the subject of several recent analyst reports. The Goldman Sachs Group upped their target price on shares of Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a research note on Thursday, January 16th. Citigroup lowered their target price on shares of Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Morgan Stanley upped their target price on shares of Rocket Lab USA from $18.00 to $20.00 and gave the company an “equal weight” rating in a research note on Monday, March 10th. Wells Fargo & Company lowered their target price on shares of Rocket Lab USA from $22.00 to $21.00 and set an “equal weight” rating for the company in a research note on Monday, March 3rd. Finally, Stifel Nicolaus upped their target price on shares of Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.06.

Rocket Lab USA Stock Up 2.2 %

Rocket Lab USA stock opened at $18.94 on Friday. The stock has a market capitalization of $8.59 billion, a PE ratio of -51.19 and a beta of 2.06. Rocket Lab USA, Inc. has a twelve month low of $3.47 and a twelve 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 has a 50 day moving average of $24.20 and a 200-day moving average of $19.18.

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

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.