Rocket Lab USA (NASDAQ:RKLB) Rating Increased to Strong-Buy at TD Cowen

TD Cowen upgraded shares of Rocket Lab USA (NASDAQ:RKLB) to a strong-buy rating in a research report sent to investors on Monday morning,Zacks.com reports.

Several other research firms have also weighed in on RKLB. Cantor Fitzgerald raised their target price on Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. The Goldman Sachs Group raised their price objective on Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a research note on Thursday, January 16th. Stifel Nicolaus upped their target price on Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Wells Fargo & Company lifted their price target on shares of Rocket Lab USA from $13.50 to $22.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 11th. Finally, Citigroup upped their price objective on shares of Rocket Lab USA from $22.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.28.

Rocket Lab USA Stock Down 4.5 %

Rocket Lab USA stock opened at $22.49 on Monday. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97. Rocket Lab USA has a 1-year low of $3.47 and a 1-year high of $33.34. The firm’s fifty day simple moving average is $27.09 and its 200-day simple moving average is $17.45. The company has a market capitalization of $11.24 billion, a P/E ratio of -60.78 and a beta of 1.99.

Insiders Place Their Bets

In related news, Director Alexander R. Slusky sold 50,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $23.00, for a total value of $1,150,000.00. Following the completion of the transaction, the director now directly owns 534,675 shares in the company, valued at approximately $12,297,525. This represents a 8.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Nina Armagno sold 10,000 shares of Rocket Lab USA stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $23.63, for a total transaction of $236,300.00. Following the sale, the director now owns 132,294 shares in the company, valued at $3,126,107.22. This represents a 7.03 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 13.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Chicago Partners Investment Group LLC increased its position in shares of Rocket Lab USA by 0.4% during the 4th quarter. Chicago Partners Investment Group LLC now owns 79,943 shares of the rocket manufacturer’s stock worth $2,187,000 after purchasing an additional 334 shares in the last quarter. Wellington Shields & Co. LLC increased its holdings in shares of Rocket Lab USA by 0.5% during the fourth quarter. Wellington Shields & Co. LLC now owns 74,522 shares of the rocket manufacturer’s stock worth $1,898,000 after buying an additional 383 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of Rocket Lab USA by 12.2% in the 4th quarter. Signaturefd LLC now owns 6,014 shares of the rocket manufacturer’s stock worth $153,000 after acquiring an additional 653 shares in the last quarter. Envestnet Asset Management Inc. grew its position in Rocket Lab USA by 3.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 21,747 shares of the rocket manufacturer’s stock worth $554,000 after acquiring an additional 696 shares during the last quarter. Finally, CIBC Asset Management Inc increased its holdings in Rocket Lab USA by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 15,078 shares of the rocket manufacturer’s stock valued at $384,000 after purchasing an additional 746 shares in the last quarter. Institutional investors own 71.78% of the company’s stock.

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.