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

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

A number of other research analysts have also recently commented on the company. 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. Stifel Nicolaus lifted their target price 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. KeyCorp increased their price target on Rocket Lab USA from $27.00 to $32.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Citigroup upped their target price on shares of Rocket Lab USA from $22.00 to $35.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Finally, Wells Fargo & Company lifted their price target on shares of Rocket Lab USA from $13.50 to $22.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 11th. Five research 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $22.28.

Rocket Lab USA Price Performance

Rocket Lab USA stock opened at $22.49 on Monday. 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 stock has a market cap of $11.24 billion, a P/E ratio of -60.78 and a beta of 1.99. The company has a 50-day moving average price of $27.09 and a 200 day moving average price of $17.45. Rocket Lab USA has a 12-month low of $3.47 and a 12-month high of $33.34.

Insider Activity at Rocket Lab USA

In other Rocket Lab USA 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 $3,126,107.22. This trade represents a 7.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Alexander R. Slusky sold 50,000 shares of the company’s stock in a transaction 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 sale, the director now directly owns 534,675 shares in the company, valued at $12,297,525. This represents a 8.55 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 13.70% of the company’s stock.

Institutional Investors Weigh In On Rocket Lab USA

A number of hedge funds have recently bought and sold shares of RKLB. Vanguard Group Inc. grew its position in shares of Rocket Lab USA by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 36,195,577 shares of the rocket manufacturer’s stock worth $921,901,000 after buying an additional 668,093 shares in the last quarter. Geode Capital Management LLC grew its holdings in Rocket Lab USA by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 8,285,693 shares of the rocket manufacturer’s stock worth $211,084,000 after acquiring an additional 32,658 shares in the last quarter. FMR LLC increased its position in shares of Rocket Lab USA by 30,853.3% in the 4th quarter. FMR LLC now owns 3,696,136 shares of the rocket manufacturer’s stock valued at $94,141,000 after purchasing an additional 3,684,195 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Rocket Lab USA by 9.5% in the 4th quarter. Northern Trust Corp now owns 3,227,617 shares of the rocket manufacturer’s stock valued at $82,207,000 after purchasing an additional 281,339 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Rocket Lab USA by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,902,212 shares of the rocket manufacturer’s stock valued at $73,919,000 after purchasing an additional 23,855 shares in the last quarter. 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.