Rocket Lab USA (NASDAQ:RKLB) Upgraded 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,Zacks.com reports.

Other equities research analysts have also recently issued reports about the stock. Citigroup lifted their price objective on shares of Rocket Lab USA from $22.00 to $35.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Bank of America raised their price target on 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 upped their price objective on Rocket Lab USA from $13.50 to $22.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 11th. The Goldman Sachs Group raised their target price on Rocket Lab USA from $12.00 to $13.50 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. Finally, Cantor Fitzgerald upped their price target on Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Five investment 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $22.28.

Rocket Lab USA Price Performance

RKLB stock opened at $21.25 on Monday. The business’s 50-day moving average is $26.86 and its two-hundred day moving average is $17.70. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16. The firm has a market capitalization of $10.62 billion, a P/E ratio of -57.43 and a beta of 1.99. Rocket Lab USA has a 1 year low of $3.47 and a 1 year high of $33.34.

Insiders Place Their Bets

In other Rocket Lab USA news, Director Alexander R. Slusky sold 50,000 shares of the firm’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 transaction, the director now directly owns 534,675 shares of the company’s stock, valued at approximately $12,297,525. This trade represents a 8.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Nina Armagno sold 10,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at $3,126,107.22. This trade represents a 7.03 % decrease in their position. The disclosure for this sale can be found here. 13.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Rocket Lab USA

Several institutional investors have recently added to or reduced their stakes in the stock. FMR LLC lifted its position in Rocket Lab USA by 30,853.3% during the 4th quarter. FMR LLC now owns 3,696,136 shares of the rocket manufacturer’s stock worth $94,141,000 after acquiring an additional 3,684,195 shares during the period. Two Sigma Advisers LP acquired a new stake in shares of Rocket Lab USA during the fourth quarter worth $72,623,000. BNP Paribas Financial Markets acquired a new stake in shares of Rocket Lab USA during the fourth quarter worth $56,977,000. Two Sigma Investments LP purchased a new position in Rocket Lab USA in the 4th quarter valued at $47,074,000. Finally, Renaissance Technologies LLC increased its stake in Rocket Lab USA by 1,765.4% in the 4th quarter. Renaissance Technologies LLC now owns 1,818,800 shares of the rocket manufacturer’s stock valued at $46,325,000 after buying an additional 1,721,300 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.