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

TD Cowen upgraded shares of Rocket Lab USA (NASDAQ:RKLB - Free Report) to a strong-buy rating in a research note released on Thursday morning,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the company. Citigroup raised their price objective on Rocket Lab USA from $13.00 to $22.00 and gave the company a "buy" rating in a research note on Monday, November 18th. The Goldman Sachs Group upped their price objective on shares of Rocket Lab USA from $5.00 to $12.00 and gave the stock a "neutral" rating in a report on Tuesday, November 19th. JMP Securities assumed coverage on Rocket Lab USA in a report on Thursday, September 12th. They set a "market perform" rating for the company. Cantor Fitzgerald increased their target price on shares of Rocket Lab USA from $7.00 to $24.00 and gave the company an "overweight" rating in a report on Thursday, November 14th. Finally, Stifel Nicolaus lifted their price target on Rocket Lab USA from $15.00 to $22.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. 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. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $17.44.

Rocket Lab USA Stock Up 7.1 %

Shares of RKLB stock traded up $1.65 on Thursday, reaching $24.87. 25,003,158 shares of the company were exchanged, compared to its average volume of 12,232,560. 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 company has a 50-day moving average of $18.08 and a 200-day moving average of $10.26. The company has a market cap of $12.43 billion, a price-to-earnings ratio of -67.21 and a beta of 1.96. Rocket Lab USA has a one year low of $3.47 and a one year high of $28.10.

Insiders Place Their Bets

In other Rocket Lab USA news, Director Matthew Ocko sold 2,000,000 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $17.73, for a total value of $35,460,000.00. Following the sale, the director now directly owns 2,351,135 shares in the company, valued at $41,685,623.55. This represents a 45.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Alexander R. Slusky sold 50,000 shares of the business'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 owns 534,675 shares of the company's stock, valued at $12,297,525. This trade represents a 8.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,114,530 shares of company stock worth $38,168,400 in the last quarter. 13.70% of the stock is owned by company insiders.

Institutional Trading of Rocket Lab USA

Large investors have recently modified their holdings of the business. Victory Capital Management Inc. raised its stake 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 purchasing an additional 1,709 shares in the last quarter. Wellington Shields & Co. LLC raised its position in shares of Rocket Lab USA by 3.8% during the 2nd quarter. Wellington Shields & Co. LLC now owns 69,142 shares of the rocket manufacturer's stock valued at $332,000 after buying an additional 2,503 shares in the last quarter. Amalgamated Bank lifted its holdings in shares of Rocket Lab USA by 26.7% during the 2nd quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer's stock worth $58,000 after acquiring an additional 2,538 shares during the last quarter. Lakeridge Wealth Management LLC increased its stake in Rocket Lab USA by 30.0% in the third quarter. Lakeridge Wealth Management LLC now owns 13,000 shares of the rocket manufacturer's stock valued at $126,000 after acquiring an additional 3,000 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its stake in Rocket Lab USA by 28.7% in the third quarter. Advisors Asset Management Inc. now owns 14,438 shares of the rocket manufacturer's stock valued at $140,000 after acquiring an additional 3,220 shares during the last quarter. Institutional investors 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.