Sanctuary Advisors LLC Decreases Stock Holdings in Rocket Lab Corporation $RKLB

Sanctuary Advisors LLC lowered its stake in shares of Rocket Lab Corporation (NASDAQ:RKLB – Free Report) by 16.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 41,625 shares of the rocket manufacturer’s stock after selling 7,995 shares during the period. Sanctuary Advisors LLC’s holdings in Rocket Lab were worth $2,904,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Sara Bay Financial boosted its holdings in Rocket Lab by 0.7% during the fourth quarter. Sara Bay Financial now owns 15,905 shares of the rocket manufacturer’s stock worth $1,121,000 after buying an additional 117 shares in the last quarter. ORG Partners LLC boosted its holdings in Rocket Lab by 9.1% during the fourth quarter. ORG Partners LLC now owns 1,458 shares of the rocket manufacturer’s stock worth $102,000 after buying an additional 121 shares in the last quarter. Traynor Capital Management Inc. boosted its holdings in Rocket Lab by 1.9% during the fourth quarter. Traynor Capital Management Inc. now owns 7,191 shares of the rocket manufacturer’s stock worth $502,000 after buying an additional 133 shares in the last quarter. Capital Advisors Wealth Management LLC boosted its holdings in Rocket Lab by 1.0% during the fourth quarter. Capital Advisors Wealth Management LLC now owns 13,466 shares of the rocket manufacturer’s stock worth $939,000 after buying an additional 136 shares in the last quarter. Finally, Capital Investment Advisory Services LLC boosted its holdings in Rocket Lab by 2.1% during the third quarter. Capital Investment Advisory Services LLC now owns 10,432 shares of the rocket manufacturer’s stock worth $500,000 after buying an additional 212 shares in the last quarter. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Rocket Lab Stock Down 4.5%

Shares of NASDAQ RKLB opened at $78.81 on Friday. Rocket Lab Corporation has a 12-month low of $20.23 and a 12-month high of $99.58. The company has a market capitalization of $44.88 billion, a PE ratio of -212.99 and a beta of 2.30. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.08 and a quick ratio of 3.61. The firm’s 50-day moving average is $72.26 and its two-hundred day moving average is $68.20.

Wall Street Analyst Weigh In

A number of research firms recently commented on RKLB. Weiss Ratings reissued a “sell (d-)” rating on shares of Rocket Lab in a report on Tuesday, April 21st. Citigroup raised shares of Rocket Lab from a “market perform” rating to an “outperform” rating in a report on Tuesday, April 14th. TD Cowen reissued a “buy” rating on shares of Rocket Lab in a report on Thursday, January 22nd. Morgan Stanley raised shares of Rocket Lab from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $67.00 to $105.00 in a report on Friday, January 16th. Finally, Citizens Jmp raised shares of Rocket Lab from a “market perform” rating to an “outperform” rating and set a $85.00 price target on the stock in a report on Tuesday, April 7th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Rocket Lab presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.31.

Read Our Latest Report on RKLB

Trending Headlines about Rocket Lab

Here are the key news stories impacting Rocket Lab this week:

• Positive Sentiment: High-profile endorsement: Jim Cramer said on Mad Money that “I think that Rocket Lab is a winner,” a bullish retail-media signal that can drive short-term buying interest and confidence among long-term holders. Jim Cramer Says “I Think That Rocket Lab Is a Winner”
• Positive Sentiment: Echoed coverage: Independent financial sites republished Cramer’s comments, reinforcing the same bullish narrative and broadening reach to investors who follow newsletters and aggregation sites. Jim Cramer Says “I Think That Rocket Lab Is a Winner” (InsiderMonkey)
• Neutral Sentiment: Sector product development (possible competitive context): Planet Labs and Carbon Mapper announced a specialized Tanager spacecraft for shortwave infrared (SWIR) imaging — a development in the small-sat remote-sensing market that could affect demand dynamics for satellite platforms and data services but does not directly announce business with or against Rocket Lab. Monitor whether this spurs new customer spending or demand for launch and spacecraft buses. Planet Labs & Carbon Mapper To Develop Specialized Tanager Spacecraft

Insider Buying and Selling

In other Rocket Lab news, Director Merline Saintil sold 18,126 shares of the company’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $75.04, for a total value of $1,360,175.04. Following the sale, the director owned 261,903 shares of the company’s stock, valued at $19,653,201.12. This represents a 6.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Adam C. Spice sold 62,744 shares of the company’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $69.59, for a total transaction of $4,366,354.96. Following the completion of the sale, the chief financial officer directly owned 1,296,824 shares in the company, valued at $90,245,982.16. This trade represents a 4.61% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 233,449 shares of company stock valued at $16,487,233. 8.40% of the stock is owned by company insiders.

About Rocket Lab

(Free Report)

Rocket Lab is an aerospace company that provides launch services, spacecraft, and space systems for commercial and government customers. The company’s primary launch vehicle is Electron, a small-lift orbital rocket designed to deploy small satellites and rideshare payloads to low Earth orbit. Rocket Lab also develops and manufactures the Rutherford engine, noted for its electric-pump-fed design and additive-manufactured components, which powers Electron and supports the company’s propulsion capabilities.

Featured Articles

• Five stocks we like better than Rocket Lab

Want to see what other hedge funds are holding RKLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rocket Lab Corporation (NASDAQ:RKLB – Free Report).