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

Rocket Lab USA (NASDAQ:RKLB)‘s stock had its “overweight” rating reiterated by Cantor Fitzgerald in a report released on Monday, Benzinga reports. They presently have a $7.00 target price on the rocket manufacturer’s stock. Cantor Fitzgerald’s price target suggests a potential downside of 30.35% from the stock’s current price.

A number of other research firms have also weighed in on RKLB. Citigroup lifted their target price on Rocket Lab USA from $5.45 to $7.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Roth Mkm restated a “buy” rating and issued a $7.00 target price on shares of Rocket Lab USA in a research report on Tuesday, June 18th. Morgan Stanley downgraded Rocket Lab USA from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $8.00 to $6.00 in a research report on Monday, July 15th. BTIG Research assumed coverage on Rocket Lab USA in a research report on Wednesday, June 26th. They issued a “neutral” rating for the company. Finally, JMP Securities began coverage on Rocket Lab USA in a report on Thursday, September 12th. They set a “market perform” rating for the company. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Rocket Lab USA has a consensus rating of “Hold” and an average price target of $6.68.

Rocket Lab USA Trading Up 2.8 %

NASDAQ:RKLB traded up $0.27 on Monday, reaching $10.05. 7,796,575 shares of the stock traded hands, compared to its average volume of 9,546,316. The firm has a market capitalization of $4.95 billion, a price-to-earnings ratio of -27.08 and a beta of 1.27. Rocket Lab USA has a 1-year low of $3.47 and a 1-year high of $10.29. The company has a current ratio of 2.82, a quick ratio of 2.43 and a debt-to-equity ratio of 0.90. The company’s 50 day moving average is $6.26 and its 200-day moving average is $5.00.

Rocket Lab USA (NASDAQ:RKLB) last issued its quarterly earnings data on Thursday, August 8th. The rocket manufacturer reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.02. The business had revenue of $106.25 million for the quarter, compared to analysts’ expectations of $105.47 million. Rocket Lab USA had a negative return on equity of 34.12% and a negative net margin of 54.17%. The business’s revenue was up 71.2% on a year-over-year basis. During the same period last year, the business earned ($0.10) EPS. Equities research analysts anticipate that Rocket Lab USA will post -0.39 EPS for the current fiscal year.

Insider Buying and Selling

In other Rocket Lab USA news, CFO Adam C. Spice sold 62,512 shares of Rocket Lab USA stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total transaction of $435,083.52. Following the completion of the sale, the chief financial officer now directly owns 1,321,165 shares of the company’s stock, valued at approximately $9,195,308.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Adam C. Spice sold 62,512 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total value of $435,083.52. Following the completion of the transaction, the chief financial officer now owns 1,321,165 shares of the company’s stock, valued at approximately $9,195,308.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael D. Griffin sold 39,446 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $6.90, for a total value of $272,177.40. Following the transaction, the director now directly owns 42,353 shares of the company’s stock, valued at approximately $292,235.70. The disclosure for this sale can be found here. In the last three months, insiders sold 130,521 shares of company stock valued at $906,059. Insiders own 13.70% of the company’s stock.

Institutional Trading of Rocket Lab USA

Several institutional investors and hedge funds have recently made changes to their positions in the company. Wellington Shields & Co. LLC grew its stake in shares of Rocket Lab USA by 3.8% during the second quarter. Wellington Shields & Co. LLC now owns 69,142 shares of the rocket manufacturer’s stock valued at $332,000 after acquiring an additional 2,503 shares in the last quarter. Amalgamated Bank grew its position in Rocket Lab USA by 26.7% in the second quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock worth $58,000 after buying an additional 2,538 shares during the last quarter. 180 Wealth Advisors LLC boosted its stake in Rocket Lab USA by 7.5% in the 2nd quarter. 180 Wealth Advisors LLC now owns 40,180 shares of the rocket manufacturer’s stock worth $214,000 after purchasing an additional 2,807 shares during the period. Verus Capital Partners LLC boosted its stake in shares of Rocket Lab USA by 11.9% during the 2nd quarter. Verus Capital Partners LLC now owns 33,160 shares of the rocket manufacturer’s stock valued at $159,000 after buying an additional 3,525 shares during the period. Finally, Advisors Asset Management Inc. boosted its stake in shares of Rocket Lab USA by 59.4% during the 1st quarter. Advisors Asset Management Inc. now owns 10,816 shares of the rocket manufacturer’s stock valued at $44,000 after buying an additional 4,032 shares during the period. 71.78% of the stock is owned by hedge funds and other institutional investors.

About Rocket Lab USA

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.