Rocket Lab USA (NASDAQ:RKLB) Stock Rating Upgraded by TD Cowen

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

Several other equities research analysts also recently issued reports on RKLB. KeyCorp raised their price target on Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Bank of America raised their target price on shares of Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. The Goldman Sachs Group upped their price target on shares of Rocket Lab USA from $5.00 to $12.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Stifel Nicolaus raised their price objective on shares of Rocket Lab USA from $15.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Citigroup upped their target price on Rocket Lab USA from $13.00 to $22.00 and gave the company a “buy” rating in a research report on Monday, November 18th. 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 company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $17.44.

Rocket Lab USA Price Performance

Shares of NASDAQ RKLB opened at $23.22 on Thursday. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. The business’s 50 day moving average price is $17.78 and its two-hundred day moving average price is $10.12. The company has a market cap of $11.61 billion, a PE ratio of -62.76 and a beta of 1.96. Rocket Lab USA has a twelve month low of $3.47 and a twelve month high of $28.10.

Insider Activity

In other Rocket Lab USA news, insider Frank Klein sold 35,968 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $24.15, for a total transaction of $868,627.20. Following the completion of the transaction, the insider now owns 1,464,032 shares of the company’s stock, valued at approximately $35,356,372.80. The trade was a 2.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Matthew Ocko sold 2,000,000 shares of the stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $17.73, for a total transaction of $35,460,000.00. Following the completion of the transaction, the director now directly owns 2,351,135 shares of the company’s stock, valued at $41,685,623.55. This trade represents a 45.97 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,114,530 shares of company stock worth $38,168,400. 13.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Rocket Lab USA

A number of institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. boosted its position in Rocket Lab USA by 4.4% in the third quarter. Victory Capital Management Inc. now owns 40,587 shares of the rocket manufacturer’s stock valued at $395,000 after buying an additional 1,709 shares in the last quarter. Wellington Shields & Co. LLC grew its holdings in shares of Rocket Lab USA by 3.8% during the second quarter. Wellington Shields & Co. LLC now owns 69,142 shares of the rocket manufacturer’s stock worth $332,000 after purchasing an additional 2,503 shares during the last quarter. Amalgamated Bank increased its stake in shares of Rocket Lab USA by 26.7% in the second quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock valued at $58,000 after buying an additional 2,538 shares during the period. Lakeridge Wealth Management LLC raised its holdings in Rocket Lab USA by 30.0% in the 3rd quarter. Lakeridge Wealth Management LLC now owns 13,000 shares of the rocket manufacturer’s stock valued at $126,000 after buying an additional 3,000 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its position in Rocket Lab USA by 28.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 14,438 shares of the rocket manufacturer’s stock worth $140,000 after buying an additional 3,220 shares during the period. 71.78% of the stock is currently owned by institutional investors and hedge funds.

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.