RocketLab (NASDAQ:RKLB) Earns Overweight Rating from Analysts at Morgan Stanley

Morgan Stanley initiated coverage on shares of RocketLab (NASDAQ:RKLB) in a research note issued to investors on Wednesday, Analyst Ratings Network reports. The brokerage issued an overweight rating and a $17.00 price target on the rocket manufacturer’s stock.

Other equities research analysts have also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of RocketLab in a report on Friday, September 17th. They issued a buy rating and a $18.00 target price on the stock. Bank of America assumed coverage on shares of RocketLab in a report on Tuesday, November 30th. They issued a buy rating and a $20.00 target price on the stock. Zacks Investment Research cut shares of RocketLab from a hold rating to a sell rating in a report on Tuesday, November 23rd. Finally, Stifel Nicolaus assumed coverage on shares of RocketLab in a report on Thursday, September 30th. They issued a buy rating and a $22.00 price target on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, RocketLab presently has a consensus rating of Buy and a consensus price target of 20.83.

Shares of RKLB stock opened at 10.42 on Wednesday. The company has a current ratio of 11.14, a quick ratio of 10.64 and a debt-to-equity ratio of 0.14. The firm has a 50-day moving average price of 13.22. RocketLab has a 52-week low of 9.50 and a 52-week high of 21.34.

RocketLab (NASDAQ:RKLB) last issued its earnings results on Monday, November 15th. The rocket manufacturer reported -0.24 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of -0.12 by -0.12. The firm had revenue of 5.29 million for the quarter, compared to the consensus estimate of 4.65 million. As a group, equities analysts forecast that RocketLab will post -0.51 earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the business. Moors & Cabot Inc. bought a new position in RocketLab in the 3rd quarter valued at about $33,000. Tsfg LLC acquired a new position in shares of RocketLab during the 3rd quarter worth approximately $35,000. Arkadios Wealth Advisors acquired a new position in shares of RocketLab during the 3rd quarter worth approximately $48,000. Advisor Group Holdings Inc. acquired a new position in shares of RocketLab during the 3rd quarter worth approximately $119,000. Finally, Penserra Capital Management LLC acquired a new position in shares of RocketLab during the 3rd quarter worth approximately $143,000. 39.47% of the stock is currently owned by hedge funds and other institutional investors.

About RocketLab

Rocket Lab and Vector entered into a definitive merger agreement.

Further Reading: Shanghai Stock Exchange Composite Index

Analyst Recommendations for RocketLab (NASDAQ:RKLB)

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