Wells Fargo & Company Begins Coverage on Rocket Lab USA (NASDAQ:RKLB)

Wells Fargo & Company initiated coverage on shares of Rocket Lab USA (NASDAQ:RKLB – Get Rating) in a research note published on Tuesday morning, Marketbeat reports. The brokerage issued an equal weight rating and a $5.00 target price on the rocket manufacturer’s stock.

RKLB has been the topic of several other research reports. Stifel Nicolaus raised their price objective on shares of Rocket Lab USA from $22.00 to $23.00 and gave the stock a buy rating in a research note on Tuesday, March 1st. Deutsche Bank Aktiengesellschaft cut their price objective on Rocket Lab USA from $18.00 to $14.00 in a report on Tuesday, May 17th. Cowen cut their price objective on Rocket Lab USA to $6.50 and set a na rating for the company in a report on Wednesday, May 18th. Roth Capital began coverage on Rocket Lab USA in a report on Wednesday, February 23rd. They issued a buy rating and a $20.00 price target for the company. Finally, UBS Group dropped their price objective on Rocket Lab USA from $28.00 to $16.00 and set a buy rating for the company in a report on Tuesday, May 17th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Rocket Lab USA currently has a consensus rating of Moderate Buy and an average price target of 16.45.

Shares of RKLB opened at 4.07 on Tuesday. Rocket Lab USA has a twelve month low of 3.93 and a twelve month high of 21.34. The company has a quick ratio of 3.85, a current ratio of 4.30 and a debt-to-equity ratio of 0.16. The firm’s 50 day moving average price is 5.64 and its 200 day moving average price is 8.34.

A number of institutional investors have recently bought and sold shares of RKLB. Deer Management Co. LLC bought a new position in Rocket Lab USA in the fourth quarter valued at about $1,000,218,000. Vanguard Group Inc. increased its holdings in Rocket Lab USA by 806.4% in the first quarter. Vanguard Group Inc. now owns 21,373,494 shares of the rocket manufacturer’s stock worth $172,057,000 after purchasing an additional 19,015,363 shares in the last quarter. State Street Corp increased its holdings in Rocket Lab USA by 1,164.6% in the first quarter. State Street Corp now owns 7,942,133 shares of the rocket manufacturer’s stock worth $63,934,000 after purchasing an additional 7,314,121 shares in the last quarter. BlackRock Inc. increased its holdings in Rocket Lab USA by 165.6% in the first quarter. BlackRock Inc. now owns 6,444,486 shares of the rocket manufacturer’s stock worth $51,878,000 after purchasing an additional 4,017,797 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC bought a new stake in Rocket Lab USA in the third quarter worth approximately $32,260,000.

Rocket Lab USA Company Profile (Get Rating)

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 engineering and 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.

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