Rocket Lab USA (NASDAQ:RKLB) cut to sell at Zacks Investment Research


Rocket Lab USA (NASDAQ:RKLB – Get a review) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report released Saturday, Zacks.com reports.

According to Zacks, “Rocket Lab USA Inc. provides end-to-end mission services that provide access to space for civil, defense and commercial markets. It designs and manufactures the Electron launch vehicles and the Photon satellite platform and is developing the Neutron launcher. Rocket Lab USA Inc., formerly known as Vector Acquisition Corporation, is headquartered in Long Beach, California.”

RKLB has been the subject of several other reports. Roth Capital launched coverage on Rocket Lab USA in a research report on Wednesday, February 23. They set a “buy” rating and a price target of $20.00 for the company. Stifel Nicolaus raised his price target on Rocket Lab USA from $22.00 to $23.00 and gave the company a “buy” rating in a Tuesday, March 1 research note. Cowen lowered his price target on Rocket Lab USA to $6.50 and gave the stock a “na” rating in a research note on Wednesday. UBS Group lowered its price target on Rocket Lab USA from $28.00 to $16.00 and placed a “buy” rating on the stock in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft cut its price target on Rocket Lab USA from $18.00 to $14.00 in a research note on Tuesday. One research analyst assigned the stock a sell rating, one issued a hold rating and seven issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of 17.72.

RKLB shares opened at 4.73 on Friday. Rocket Lab USA has a 1-year low of 4.50 and a 1-year high of 21.34. The stock’s 50-day moving average is 7.47 and its 200-day moving average is 10.08. The company has a quick ratio of 7.55, a current ratio of 4.30 and a leverage ratio of 0.16.

Several institutional investors and hedge funds have recently increased or reduced their stake in RKLB. Citigroup Inc. acquired a new stake in shares of Rocket Lab USA in Q4 valued at approximately $36,000. Advisor Group Holdings Inc. acquired a new stake in shares of Rocket Lab USA in Q3 worth approximately $119,000. Ensign Peak Advisors Inc acquired a new stake in Rocket Lab USA stock in Q4 worth approximately $93,000. Royal Bank of Canada acquired a new stake in shares of Rocket Lab USA in Q3 valued at approximately $143,000. Finally, Penserra Capital Management LLC acquired a new equity stake in Rocket Lab USA in Q3 valued at approximately $143,000.

Rocket Lab USA Company Profile (Get a rating)

Rocket Lab USA, Inc, a space company, provides launch services and space system solutions for the space and defense industries. The Company provides launch services, spacecraft engineering and design services, spacecraft components, spacecraft manufacturing and other spacecraft and in-orbit management solutions; and constellation management services, as well as designs and manufactures small and medium class rockets.

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