Rocket Lab USA (NASDAQ:RKLB) Cut to Sell at Zacks Investment Research

Rocket Lab USA (NASDAQ:RKLBGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Saturday, Zacks.com reports.

According to Zacks, “Rocket Lab USA Inc. offer end-to-end mission services which provide access to space for civil, defense and commercial markets. It designs and manufactures the Electron launch vehicles and Photon satellite platform and is developing the Neutron launch vehicle. 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 initiated coverage on Rocket Lab USA in a research report on Wednesday, February 23rd. They set a “buy” rating and a $20.00 price target for the company. Stifel Nicolaus upped their price target 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. Cowen decreased their price target on Rocket Lab USA to $6.50 and set a “na” rating on the stock in a research note on Wednesday. UBS Group decreased their price target on Rocket Lab USA from $28.00 to $16.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Rocket Lab USA from $18.00 to $14.00 in a research note on Tuesday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have 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.

Shares of RKLB stock 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 debt-to-equity ratio of 0.16.

Several institutional investors and hedge funds have recently added to or reduced their stakes in RKLB. Citigroup Inc. acquired a new stake in shares of Rocket Lab USA in the 4th quarter valued at about $36,000. Advisor Group Holdings Inc. acquired a new stake in shares of Rocket Lab USA in the 3rd quarter valued at about $119,000. Ensign Peak Advisors Inc acquired a new stake in shares of Rocket Lab USA in the 4th quarter valued at about $93,000. Royal Bank of Canada acquired a new stake in shares of Rocket Lab USA in the 3rd quarter valued at about $143,000. Finally, Penserra Capital Management LLC acquired a new stake in shares of Rocket Lab USA in the 3rd quarter valued at about $143,000.

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.

Recommended Stories

Get a free copy of the Zacks research report on Rocket Lab USA (RKLB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Rocket Lab USA (NASDAQ:RKLB)

Receive News & Ratings for Rocket Lab USA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rocket Lab USA and related companies with MarketBeat.com's FREE daily email newsletter.