Rocket Lab USA (NASDAQ:RKLB) Upgraded by TD Cowen to “Strong-Buy” Rating

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

Several other equities analysts have also recently commented on the stock. Bank of America raised their target price on shares of Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Wells Fargo & Company boosted their target price on Rocket Lab USA from $13.50 to $22.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 11th. Citigroup increased their price target on Rocket Lab USA from $22.00 to $35.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Cantor Fitzgerald lifted their price target on Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Finally, The Goldman Sachs Group upped their price objective on Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a report on Thursday, January 16th. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $22.28.

Rocket Lab USA Trading Down 4.5 %

Shares of RKLB stock opened at $22.49 on Monday. The firm has a market capitalization of $11.24 billion, a PE ratio of -60.78 and a beta of 1.99. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58. Rocket Lab USA has a 1 year low of $3.47 and a 1 year high of $33.34. The stock has a fifty day moving average of $27.09 and a two-hundred day moving average of $17.45.

Insider Transactions at Rocket Lab USA

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

Institutional Trading of Rocket Lab USA

Hedge funds and other institutional investors have recently modified their holdings of the business. Spectrum Wealth Counsel LLC purchased a new stake in Rocket Lab USA in the 4th quarter worth about $25,000. Sandy Spring Bank acquired a new position in shares of Rocket Lab USA in the 4th quarter valued at about $26,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Rocket Lab USA in the fourth quarter worth approximately $40,000. Quarry LP purchased a new stake in shares of Rocket Lab USA in the fourth quarter worth approximately $48,000. Finally, NewEdge Advisors LLC boosted its holdings in shares of Rocket Lab USA by 1,000.0% during the fourth quarter. NewEdge Advisors LLC now owns 1,925 shares of the rocket manufacturer’s stock worth $49,000 after purchasing an additional 1,750 shares during the period. Institutional investors and hedge funds 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.