Cantor Fitzgerald Reaffirms Overweight Rating for Rocket Lab USA (NASDAQ:RKLB)

Cantor Fitzgerald restated their overweight rating on shares of Rocket Lab USA (NASDAQ:RKLB) in a research report report published on Monday, Benzinga reports. Cantor Fitzgerald currently has a $6.00 price target on the rocket manufacturer’s stock.

A number of other equities research analysts also recently issued reports on RKLB. Morgan Stanley downgraded Rocket Lab USA from an overweight rating to an equal weight rating and decreased their price objective for the company from $8.00 to $6.00 in a research report on Monday. The Goldman Sachs Group began coverage on Rocket Lab USA in a research note on Tuesday, June 11th. They set a neutral rating and a $4.50 target price on the stock. Citigroup decreased their price target on Rocket Lab USA from $6.00 to $5.45 and set a buy rating for the company in a research note on Tuesday, May 7th. Roth Mkm reiterated a buy rating and issued a $7.00 target price on shares of Rocket Lab USA in a research note on Tuesday, June 18th. Finally, Wells Fargo & Company lowered their target price on shares of Rocket Lab USA from $5.00 to $4.25 and set an equal weight rating for the company in a research note on Thursday, April 4th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $6.58.

Rocket Lab USA Stock Performance

Shares of NASDAQ RKLB opened at $5.45 on Monday. The company has a debt-to-equity ratio of 0.86, a current ratio of 3.12 and a quick ratio of 2.69. The firm has a fifty day moving average price of $4.64 and a 200-day moving average price of $4.47. The stock has a market cap of $2.69 billion, a PE ratio of -14.73 and a beta of 1.25. Rocket Lab USA has a 1 year low of $3.47 and a 1 year high of $8.05.

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

Insider Buying and Selling

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

Institutional Investors Weigh In On Rocket Lab USA

Institutional investors have recently bought and sold shares of the company. 180 Wealth Advisors LLC increased its position in shares of Rocket Lab USA by 7.5% during the second 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 in the last quarter. Baxter Bros Inc. purchased a new position in Rocket Lab USA during the 2nd quarter worth $48,000. DNB Asset Management AS increased its position in Rocket Lab USA by 17.7% during the 2nd quarter. DNB Asset Management AS now owns 114,628 shares of the rocket manufacturer’s stock valued at $550,000 after buying an additional 17,269 shares in the last quarter. Bayesian Capital Management LP raised its stake in Rocket Lab USA by 38.7% in the first quarter. Bayesian Capital Management LP now owns 20,800 shares of the rocket manufacturer’s stock valued at $85,000 after buying an additional 5,800 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Rocket Lab USA by 153.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 380,965 shares of the rocket manufacturer’s stock worth $1,567,000 after acquiring an additional 230,931 shares in the last quarter. 71.78% of the stock is currently owned by institutional investors and hedge funds.

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.