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

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

Several other analysts have also recently issued reports on RKLB. KeyCorp upped their target price on Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Citigroup upped their price objective on shares of Rocket Lab USA from $13.00 to $22.00 and gave the company a “buy” rating in a report on Monday, November 18th. Wells Fargo & Company boosted their target price on shares of Rocket Lab USA from $13.50 to $22.00 and gave the company an “equal weight” rating in a report on Wednesday, December 11th. Stifel Nicolaus raised their price target on shares of Rocket Lab USA from $15.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, JMP Securities assumed coverage on Rocket Lab USA in a report on Thursday, September 12th. They issued a “market perform” rating on the stock. 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $17.44.

Rocket Lab USA Trading Up 7.1 %

RKLB opened at $24.87 on Thursday. 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’s 50 day simple moving average is $18.08 and its two-hundred day simple moving average is $10.26. The firm has a market capitalization of $12.43 billion, a price-to-earnings ratio of -67.21 and a beta of 1.96. Rocket Lab USA has a 1-year low of $3.47 and a 1-year high of $28.10.

Insider Buying and Selling at Rocket Lab USA

In related news, Director Alexander R. Slusky sold 50,000 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 534,675 shares of the company’s stock, valued at $12,297,525. This represents a 8.55 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Matthew Ocko sold 2,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were 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 represents a 45.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,114,530 shares of company stock valued at $38,168,400 over the last quarter. 13.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Rocket Lab USA

Several large investors have recently bought and sold shares of RKLB. Franklin Resources Inc. purchased a new position in Rocket Lab USA in the third quarter worth approximately $107,000. Sanctuary Advisors LLC grew its stake in shares of Rocket Lab USA by 34.0% during the third quarter. Sanctuary Advisors LLC now owns 21,226 shares of the rocket manufacturer’s stock worth $207,000 after purchasing an additional 5,381 shares in the last quarter. Arete Wealth Advisors LLC acquired a new position in shares of Rocket Lab USA during the third quarter worth $106,000. Geode Capital Management LLC increased its holdings in Rocket Lab USA by 12.2% in the third quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock valued at $80,317,000 after buying an additional 898,223 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its stake in Rocket Lab USA by 22.4% in the third quarter. Nomura Asset Management Co. Ltd. now owns 227,438 shares of the rocket manufacturer’s stock valued at $2,213,000 after buying an additional 41,551 shares in the last quarter. Hedge funds and other institutional investors 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.