Marietta Investment Partners LLC Invests $527,000 in Rocket Lab Corporation $RKLB

Marietta Investment Partners LLC bought a new position in shares of Rocket Lab Corporation (NASDAQ:RKLBFree Report) in the third quarter, Holdings Channel.com reports. The fund bought 11,000 shares of the rocket manufacturer’s stock, valued at approximately $527,000.

A number of other institutional investors have also bought and sold shares of RKLB. Wilmington Savings Fund Society FSB acquired a new stake in Rocket Lab during the 3rd quarter worth about $25,000. Hara Capital LLC acquired a new position in shares of Rocket Lab in the 3rd quarter valued at about $25,000. UMB Bank n.a. boosted its position in shares of Rocket Lab by 352.5% during the 3rd quarter. UMB Bank n.a. now owns 543 shares of the rocket manufacturer’s stock valued at $26,000 after purchasing an additional 423 shares in the last quarter. Sound Income Strategies LLC acquired a new stake in Rocket Lab during the third quarter worth approximately $27,000. Finally, Financial Consulate Inc. bought a new stake in Rocket Lab in the third quarter worth approximately $35,000. Institutional investors own 71.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on RKLB. Citizens Jmp reissued a “market perform” rating on shares of Rocket Lab in a research note on Friday, February 27th. Wall Street Zen upgraded shares of Rocket Lab from a “sell” rating to a “hold” rating in a research report on Sunday, February 8th. Citigroup restated a “market perform” rating on shares of Rocket Lab in a report on Wednesday, November 12th. Roth Mkm reaffirmed a “buy” rating and issued a $75.00 price target on shares of Rocket Lab in a research note on Tuesday, November 11th. Finally, TD Cowen reiterated a “buy” rating on shares of Rocket Lab in a report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Rocket Lab presently has an average rating of “Moderate Buy” and a consensus target price of $75.92.

Read Our Latest Stock Analysis on Rocket Lab

More Rocket Lab News

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Insider Buying and Selling

In related news, SVP Arjun Kampani sold 23,711 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $71.95, for a total value of $1,706,006.45. Following the transaction, the senior vice president owned 397,988 shares of the company’s stock, valued at approximately $28,635,236.60. This trade represents a 5.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Frank Klein sold 36,768 shares of Rocket Lab stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $71.95, for a total value of $2,645,457.60. Following the transaction, the insider owned 1,088,237 shares of the company’s stock, valued at $78,298,652.15. This trade represents a 3.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 4,344,302 shares of company stock worth $279,695,404 over the last ninety days. Insiders own 11.90% of the company’s stock.

Rocket Lab Stock Performance

NASDAQ RKLB opened at $70.00 on Friday. The company has a market cap of $37.39 billion, a P/E ratio of -189.18 and a beta of 2.20. The company has a fifty day simple moving average of $77.61 and a 200 day simple moving average of $61.76. The company has a current ratio of 4.08, a quick ratio of 2.83 and a debt-to-equity ratio of 0.10. Rocket Lab Corporation has a 12-month low of $14.71 and a 12-month high of $99.58.

Rocket Lab Profile

(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.

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Institutional Ownership by Quarter for Rocket Lab (NASDAQ:RKLB)

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