Rocket Lab USA (NASDAQ:RKLB) PT Lowered to $6.50 at Cowen

Rocket Lab USA (NASDAQ:RKLBGet Rating) had its price objective lowered by stock analysts at Cowen to $6.50 in a report released on Wednesday, Stock Target Advisor reports. The firm currently has a “na” rating on the rocket manufacturer’s stock.

Other equities research analysts have also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Rocket Lab USA from $18.00 to $14.00 in a research report on Tuesday. Bank of America reduced their price target on shares of Rocket Lab USA from $20.00 to $15.00 in a research report on Wednesday, January 19th. Roth Capital started coverage on shares of Rocket Lab USA in a research report on Wednesday, February 23rd. They issued a “buy” rating and a $20.00 price target for the company. UBS Group reduced their price target on shares of Rocket Lab USA from $28.00 to $16.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Stifel Nicolaus upped their target price on shares of Rocket Lab USA from $22.00 to $23.00 and gave the company a “buy” rating in a report on Tuesday, March 1st. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of 17.72.

RKLB traded down 1.00 on Wednesday, reaching 4.66. The company had a trading volume of 617,680 shares, compared to its average volume of 3,958,548. Rocket Lab USA has a 1 year low of 4.94 and a 1 year high of 21.34. The company has a debt-to-equity ratio of 0.14, a current ratio of 8.04 and a quick ratio of 7.55. The stock has a 50-day moving average price of 7.70 and a 200-day moving average price of 10.26.

Several hedge funds have recently modified their holdings of the company. VK Services LLC purchased a new position in shares of Rocket Lab USA in the 3rd quarter valued at $1,855,027,000. Deer Management Co. LLC acquired a new stake in Rocket Lab USA during the 4th quarter valued at $1,000,218,000. Vanguard Group Inc. grew its holdings in Rocket Lab USA by 806.4% during the 1st quarter. Vanguard Group Inc. now owns 21,373,494 shares of the rocket manufacturer’s stock valued at $172,057,000 after purchasing an additional 19,015,363 shares in the last quarter. StepStone Group LP acquired a new stake in Rocket Lab USA during the 3rd quarter valued at $281,251,000. Finally, Vector Capital Management L.P. acquired a new stake in Rocket Lab USA during the 3rd quarter valued at $208,373,000.

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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