Rocket Lab USA (NASDAQ:RKLB) Stock Rating Reaffirmed by Cantor Fitzgerald

Rocket Lab USA (NASDAQ:RKLB)‘s stock had its “overweight” rating reiterated by equities researchers at Cantor Fitzgerald in a research note issued to investors on Monday, Benzinga reports. They presently have a $6.00 price target on the rocket manufacturer’s stock. Cantor Fitzgerald’s price target indicates a potential upside of 30.15% from the company’s previous close.

Other research analysts also recently issued research reports about the company. Citigroup reduced their target price on Rocket Lab USA from $6.00 to $5.45 and set a “buy” rating on the stock in a report on Tuesday, May 7th. BTIG Research began coverage on Rocket Lab USA in a report on Wednesday, June 26th. They set a “neutral” rating on the stock. Roth Mkm reaffirmed a “buy” rating and set a $7.00 target price on shares of Rocket Lab USA in a report on Tuesday, June 18th. The Goldman Sachs Group began coverage on Rocket Lab USA in a report on Tuesday, June 11th. They set a “neutral” rating and a $4.50 target price on the stock. Finally, Wells Fargo & Company reduced their target price on Rocket Lab USA from $5.00 to $4.25 and set an “equal weight” rating on the stock in a report on Thursday, April 4th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $6.65.

Rocket Lab USA Price Performance

RKLB stock opened at $4.61 on Monday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.69 and a current ratio of 3.12. Rocket Lab USA has a 1 year low of $3.47 and a 1 year high of $8.05. The firm has a market cap of $2.27 billion, a P/E ratio of -12.46 and a beta of 1.25. The stock has a 50-day simple moving average of $4.35 and a 200-day simple moving average of $4.46.

Rocket Lab USA (NASDAQ:RKLB) last posted its earnings results on Monday, May 6th. The rocket manufacturer reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.02. The business had revenue of $92.80 million during the quarter, compared to analyst estimates of $94.98 million. Rocket Lab USA had a negative return on equity of 32.50% and a negative net margin of 64.15%. The company’s revenue for the quarter was up 69.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.10) earnings per share. On average, equities analysts predict that Rocket Lab USA will post -0.41 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Adam C. Spice sold 63,529 shares of Rocket Lab USA stock in a transaction on Friday, May 24th. The stock was sold at an average price of $4.22, for a total transaction of $268,092.38. Following the transaction, the chief financial officer now directly owns 1,383,677 shares in the company, valued at approximately $5,839,116.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, General Counsel Arjun Kampani sold 29,026 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $4.22, for a total transaction of $122,489.72. Following the completion of the sale, the general counsel now directly owns 666,121 shares of the company’s stock, valued at approximately $2,811,030.62. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Adam C. Spice sold 63,529 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $4.22, for a total value of $268,092.38. Following the sale, the chief financial officer now directly owns 1,383,677 shares of the company’s stock, valued at $5,839,116.94. The disclosure for this sale can be found here. 13.70% of the stock is owned by insiders.

Institutional Trading of Rocket Lab USA

Several hedge funds and other institutional investors have recently modified their holdings of RKLB. Vanguard Group Inc. boosted its position in shares of Rocket Lab USA by 9.2% in the first quarter. Vanguard Group Inc. now owns 29,000,578 shares of the rocket manufacturer’s stock worth $119,192,000 after buying an additional 2,448,789 shares during the period. Tocqueville Asset Management L.P. boosted its position in Rocket Lab USA by 217.1% during the first quarter. Tocqueville Asset Management L.P. now owns 1,284,060 shares of the rocket manufacturer’s stock valued at $5,277,000 after purchasing an additional 879,160 shares during the last quarter. Qube Research & Technologies Ltd acquired a new stake in Rocket Lab USA during the third quarter valued at $2,271,000. American Century Companies Inc. boosted its position in Rocket Lab USA by 12.0% during the third quarter. American Century Companies Inc. now owns 3,701,611 shares of the rocket manufacturer’s stock valued at $16,213,000 after purchasing an additional 396,501 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in Rocket Lab USA by 153.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 380,965 shares of the rocket manufacturer’s stock valued at $1,567,000 after purchasing an additional 230,931 shares during the last quarter. Institutional investors and hedge funds own 71.78% of the company’s stock.

Rocket Lab USA Company Profile

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 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.