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

Rocket Lab USA (NASDAQ:RKLB)‘s stock had its “overweight” rating reissued by Cantor Fitzgerald in a report released on Monday, Benzinga reports. They currently have a $7.00 target price on the rocket manufacturer’s stock. Cantor Fitzgerald’s price objective points to a potential downside of 6.79% from the company’s current price.

RKLB has been the topic of several other reports. JMP Securities initiated coverage on shares of Rocket Lab USA in a research note on Thursday, September 12th. They issued a “market perform” rating on the stock. Citigroup increased their price target on Rocket Lab USA from $5.45 to $7.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. BTIG Research started coverage on Rocket Lab USA in a report on Wednesday, June 26th. They issued a “neutral” rating for the company. Roth Mkm reiterated a “buy” rating and set a $7.00 target price on shares of Rocket Lab USA in a research report on Tuesday, June 18th. Finally, The Goldman Sachs Group initiated coverage on Rocket Lab USA in a research report on Tuesday, June 11th. They issued a “neutral” rating and a $4.50 price target on the stock. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Rocket Lab USA currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.86.

Rocket Lab USA Stock Performance

RKLB stock traded up $0.04 during mid-day trading on Monday, hitting $7.51. 5,486,322 shares of the company were exchanged, compared to its average volume of 9,210,474. Rocket Lab USA has a 1-year low of $3.47 and a 1-year high of $7.72. The stock has a market capitalization of $3.70 billion, a PE ratio of -20.35 and a beta of 1.27. The business has a 50 day simple moving average of $5.96 and a 200-day simple moving average of $4.86. The company has a current ratio of 2.82, a quick ratio of 2.43 and a debt-to-equity ratio of 0.90.

Rocket Lab USA (NASDAQ:RKLB) last released its quarterly earnings results on Thursday, August 8th. The rocket manufacturer reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.02. Rocket Lab USA had a negative return on equity of 34.12% and a negative net margin of 54.17%. The business had revenue of $106.25 million during the quarter, compared to analysts’ expectations of $105.47 million. During the same period last year, the firm posted ($0.10) EPS. The firm’s revenue for the quarter was up 71.2% compared to the same quarter last year. On average, equities analysts forecast that Rocket Lab USA will post -0.4 earnings per share for the current year.

Insider Transactions at Rocket Lab USA

In other news, CFO Adam C. Spice sold 62,512 shares of Rocket Lab USA stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total transaction of $435,083.52. Following the sale, the chief financial officer now directly owns 1,321,165 shares of the company’s stock, valued at $9,195,308.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Adam C. Spice sold 62,512 shares of Rocket Lab USA stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total transaction of $435,083.52. Following the transaction, the chief financial officer now owns 1,321,165 shares in the company, valued at $9,195,308.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Arjun Kampani sold 28,563 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total transaction of $198,798.48. Following the completion of the sale, the general counsel now directly owns 637,558 shares in the company, valued at approximately $4,437,403.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 130,521 shares of company stock worth $906,059. Corporate insiders own 13.70% of the company’s stock.

Institutional Investors Weigh In On Rocket Lab USA

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Rocket Lab USA by 9.2% during 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. Ieq Capital LLC bought a new stake in Rocket Lab USA during the second quarter valued at $5,469,000. Tocqueville Asset Management L.P. grew its holdings in Rocket Lab USA by 217.1% during the 1st quarter. Tocqueville Asset Management L.P. now owns 1,284,060 shares of the rocket manufacturer’s stock worth $5,277,000 after acquiring an additional 879,160 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Rocket Lab USA by 25.6% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,123,591 shares of the rocket manufacturer’s stock worth $10,193,000 after acquiring an additional 432,501 shares in the last quarter. Finally, ARK Investment Management LLC raised its position in shares of Rocket Lab USA by 6.6% in the 2nd quarter. ARK Investment Management LLC now owns 6,297,073 shares of the rocket manufacturer’s stock worth $30,226,000 after acquiring an additional 391,778 shares in the last quarter. Institutional investors 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.