Rocket Lab USA, Inc. (NASDAQ:RKLB) Sees Significant Increase in Short Interest

Rocket Lab USA, Inc. (NASDAQ:RKLB – Get Rating) was the recipient of a large growth in short interest in March. As of March 31st, there was short interest totalling 13,970,000 shares, a growth of 56.1% from the March 15th total of 8,950,000 shares. Based on an average daily volume of 4,260,000 shares, the short-interest ratio is currently 3.3 days. Approximately 7.2% of the shares of the stock are sold short.

Several equities analysts recently weighed in on the company. Morgan Stanley assumed coverage on Rocket Lab USA in a research note on Wednesday, January 12th. They issued an “overweight” rating and a $17.00 price objective for the company. Zacks Investment Research downgraded Rocket Lab USA from a “hold” rating to a “sell” rating in a research note on Thursday, March 31st. Stifel Nicolaus raised their price objective on Rocket Lab USA from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, March 1st. Bank of America dropped their price objective on Rocket Lab USA from $20.00 to $15.00 in a research note on Wednesday, January 19th. Finally, Roth Capital initiated coverage on Rocket Lab USA in a research note on Wednesday, February 23rd. They issued a “buy” rating and a $20.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of 20.14.

Rocket Lab USA stock traded up 0.04 during mid-day trading on Friday, hitting 8.42. 79,154 shares of the company were exchanged, compared to its average volume of 4,852,853. The company has a debt-to-equity ratio of 0.14, a quick ratio of 7.55 and a current ratio of 8.04. The business’s 50 day simple moving average is 8.76 and its two-hundred day simple moving average is 11.34. Rocket Lab USA has a 12-month low of 7.51 and a 12-month high of 21.34.

Institutional investors have recently added to or reduced their stakes in the business. VK Services LLC acquired a new stake in shares of Rocket Lab USA during the third quarter worth $1,855,027,000. Deer Management Co. LLC acquired a new stake in shares of Rocket Lab USA during the fourth quarter worth $1,000,218,000. StepStone Group LP acquired a new stake in shares of Rocket Lab USA during the third quarter worth $281,251,000. Vector Capital Management L.P. acquired a new stake in shares of Rocket Lab USA during the third quarter worth $208,373,000. Finally, Capital Research Global Investors acquired a new stake in shares of Rocket Lab USA during the third quarter worth $87,828,000. 60.14% of the stock is owned by institutional investors.

About Rocket Lab USA (Get Rating)

Rocket Lab USA, Inc, an aerospace company, focuses on developing rocket launch and control systems for the space and defense industries. The company provides launch services, spacecraft components, satellites and other spacecraft, and on-orbit management solutions; and designs, manufactures, and sells Electron and Neutron launch vehicles, as well as offers Photon platform for spacecraft solutions.

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