Rocket Lab USA (NASDAQ:RKLB) Earns Equal Weight Rating from Analysts at Wells Fargo & Company

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

Other equities analysts also recently issued reports about the company. UBS Group reduced their price target on Rocket Lab USA from $28.00 to $16.00 and set a buy rating on the stock in a research report on Tuesday, May 17th. Cowen reduced their price target on Rocket Lab USA to $6.50 and set a na rating on the stock in a research report on Wednesday, May 18th. Deutsche Bank Aktiengesellschaft reduced their price target on Rocket Lab USA from $18.00 to $14.00 in a research report on Tuesday, May 17th. Stifel Nicolaus upped their price target on Rocket Lab USA from $22.00 to $23.00 and gave the stock a buy rating in a research report on Tuesday, March 1st. Finally, Roth Capital began coverage on shares of Rocket Lab USA in a report on Wednesday, February 23rd. They set a buy rating and a $20.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Rocket Lab USA has an average rating of Moderate Buy and an average price target of 16.45.

Shares of NASDAQ:RKLB opened at 4.07 on Tuesday. Rocket Lab USA has a 52 week low of 3.93 and a 52 week high of 21.34. The company has a debt-to-equity ratio of 0.16, a current ratio of 4.30 and a quick ratio of 3.85. The firm has a 50 day moving average of 5.64 and a 200 day moving average of 8.34.

Large investors have recently bought and sold shares of the business. Deer Management Co. LLC acquired a new position in shares of Rocket Lab USA in the fourth quarter worth about $1,000,218,000. Vanguard Group Inc. raised its position in shares of 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 acquiring an additional 19,015,363 shares during the period. State Street Corp raised its position in shares of 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 acquiring an additional 7,314,121 shares during the period. BlackRock Inc. raised its position in shares of 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 acquiring an additional 4,017,797 shares during the period. Finally, ArrowMark Colorado Holdings LLC acquired a new position in shares of Rocket Lab USA during the 3rd quarter worth about $32,260,000.

About Rocket Lab USA (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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