Rocket Lab USA (NASDAQ:RKLB) Raised to “Strong-Buy” at TD Cowen

Rocket Lab USA (NASDAQ:RKLB) was upgraded by investment analysts at TD Cowen to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

RKLB has been the topic of several other research reports. Citigroup upped their price target on Rocket Lab USA from $22.00 to $35.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. KeyCorp upped their target price on Rocket Lab USA from $27.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Stifel Nicolaus increased their price target on Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. The Goldman Sachs Group boosted their price objective on Rocket Lab USA from $12.00 to $13.50 and gave the stock a “neutral” rating in a report on Thursday, January 16th. Finally, Cantor Fitzgerald upped their price objective on shares of Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Rocket Lab USA has a consensus rating of “Moderate Buy” and an average target price of $22.28.

Rocket Lab USA Price Performance

Shares of Rocket Lab USA stock opened at $20.28 on Monday. Rocket Lab USA has a 52 week low of $3.47 and a 52 week high of $33.34. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97. The company’s 50-day moving average price is $27.02 and its two-hundred day moving average price is $17.57. The stock has a market cap of $10.14 billion, a PE ratio of -54.81 and a beta of 1.99.

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 that occurred 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 sale, the director now directly owns 534,675 shares in the company, valued at approximately $12,297,525. The trade was a 8.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Nina Armagno sold 10,000 shares of the 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 transaction, the director now owns 132,294 shares in the company, valued at approximately $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 owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of RKLB. Spectrum Wealth Counsel LLC bought a new position in shares of Rocket Lab USA in the fourth quarter worth about $25,000. Sandy Spring Bank acquired a new stake in Rocket Lab USA in the 4th quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. bought a new position in Rocket Lab USA in the 4th quarter worth approximately $40,000. Quarry LP acquired a new position in shares of Rocket Lab USA during the fourth quarter worth approximately $48,000. Finally, NewEdge Advisors LLC lifted 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 buying an additional 1,750 shares during the last quarter. Institutional investors and hedge funds own 71.78% of the company’s stock.

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.