Fulton Bank N.A. Acquires Shares of 10,820 Rocket Lab USA, Inc. (NASDAQ:RKLB)

Fulton Bank N.A. acquired a new position in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,820 shares of the rocket manufacturer's stock, valued at approximately $193,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Wellington Management Group LLP bought a new position in shares of Rocket Lab USA in the fourth quarter worth about $17,261,000. Van ECK Associates Corp lifted its holdings in shares of Rocket Lab USA by 26.9% in the fourth quarter. Van ECK Associates Corp now owns 166,369 shares of the rocket manufacturer's stock worth $4,237,000 after acquiring an additional 35,293 shares during the last quarter. AlphaCentric Advisors LLC lifted its holdings in shares of Rocket Lab USA by 66.7% in the fourth quarter. AlphaCentric Advisors LLC now owns 25,000 shares of the rocket manufacturer's stock worth $637,000 after acquiring an additional 10,000 shares during the last quarter. Stratos Wealth Partners LTD. bought a new position in shares of Rocket Lab USA in the fourth quarter worth about $1,281,000. Finally, Empowered Funds LLC bought a new position in shares of Rocket Lab USA in the fourth quarter worth about $288,000. Institutional investors own 71.78% of the company's stock.

Insider Transactions at Rocket Lab USA

In related news, insider Frank Klein sold 1,818 shares of Rocket Lab USA stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $26.51, for a total value of $48,195.18. Following the completion of the sale, the insider now owns 1,368,372 shares of the company's stock, valued at approximately $36,275,541.72. This trade represents a 0.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Arjun Kampani sold 5,277 shares of Rocket Lab USA stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $29.97, for a total transaction of $158,151.69. Following the completion of the sale, the insider now directly owns 569,606 shares of the company's stock, valued at approximately $17,071,091.82. The trade was a 0.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 136,937 shares of company stock valued at $3,285,279 in the last quarter. 13.70% of the stock is currently owned by company insiders.

Rocket Lab USA Trading Up 9.3%

Shares of RKLB stock traded up $2.47 during trading hours on Friday, hitting $28.92. 34,039,139 shares of the company were exchanged, compared to its average volume of 16,631,887. The firm has a market cap of $13.12 billion, a P/E ratio of -78.16 and a beta of 2.08. Rocket Lab USA, Inc. has a fifty-two week low of $4.20 and a fifty-two week high of $33.34. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58. The company has a 50 day simple moving average of $22.37 and a two-hundred day simple moving average of $23.59.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The rocket manufacturer reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.02). The company had revenue of $122.57 million for the quarter, compared to analyst estimates of $120.74 million. Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. The business's quarterly revenue was up 32.1% compared to the same quarter last year. During the same period last year, the business earned ($0.09) EPS. Equities analysts anticipate that Rocket Lab USA, Inc. will post -0.38 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on RKLB. Roth Capital raised their price objective on shares of Rocket Lab USA from $25.00 to $35.00 and gave the company a "buy" rating in a report on Wednesday, May 28th. KeyCorp reiterated an "overweight" rating on shares of Rocket Lab USA in a report on Tuesday. Morgan Stanley raised their price objective on shares of Rocket Lab USA from $18.00 to $20.00 and gave the company an "equal weight" rating in a report on Monday, March 10th. Stifel Nicolaus raised their price objective on shares of Rocket Lab USA from $29.00 to $34.00 and gave the company a "buy" rating in a report on Wednesday, May 28th. Finally, Citigroup dropped their price objective on shares of Rocket Lab USA from $35.00 to $33.00 and set a "buy" rating for the company in a report on Friday, February 28th. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $25.18.

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.