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 Thursday,Zacks.com reports.

RKLB has been the topic of several other research reports. KeyCorp upped their price objective on shares of Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Cantor Fitzgerald increased their price objective on Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Stifel Nicolaus boosted their target price on Rocket Lab USA from $15.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Wells Fargo & Company raised their price target on Rocket Lab USA from $13.50 to $22.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 11th. Finally, The Goldman Sachs Group boosted their price target on Rocket Lab USA from $5.00 to $12.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Rocket Lab USA presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.44.

Rocket Lab USA Stock Up 1.3 %

NASDAQ:RKLB opened at $23.22 on Thursday. The business’s fifty day moving average price is $17.78 and its 200 day moving average price is $10.12. The firm has a market capitalization of $11.61 billion, a price-to-earnings ratio of -62.76 and a beta of 1.96. 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 $28.10.

Insider Activity at Rocket Lab USA

In related news, Director Alexander R. Slusky sold 50,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $23.00, for a total transaction of $1,150,000.00. Following the transaction, the director now directly owns 534,675 shares in the company, valued at $12,297,525. The trade was a 8.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Frank Klein sold 35,968 shares of Rocket Lab USA stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $24.15, for a total value of $868,627.20. Following the sale, the insider now directly owns 1,464,032 shares in the company, valued at $35,356,372.80. The trade was a 2.40 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,114,530 shares of company stock worth $38,168,400. 13.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Rocket Lab USA

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Franklin Resources Inc. bought a new stake in Rocket Lab USA in the third quarter valued at $107,000. Sanctuary Advisors LLC lifted its position in Rocket Lab USA by 34.0% during the 3rd quarter. Sanctuary Advisors LLC now owns 21,226 shares of the rocket manufacturer’s stock worth $207,000 after buying an additional 5,381 shares in the last quarter. Arete Wealth Advisors LLC bought a new stake in Rocket Lab USA during the 3rd quarter worth about $106,000. Geode Capital Management LLC increased its position in Rocket Lab USA by 12.2% in the 3rd quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock valued at $80,317,000 after acquiring an additional 898,223 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its stake in shares of Rocket Lab USA by 22.4% in the third quarter. Nomura Asset Management Co. Ltd. now owns 227,438 shares of the rocket manufacturer’s stock worth $2,213,000 after acquiring an additional 41,551 shares during the last quarter. 71.78% of the stock is owned by institutional investors.

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.