Cantor Fitzgerald Forecasts Strong Price Appreciation for Rocket Lab USA (NASDAQ:RKLB) Stock

Rocket Lab USA (NASDAQ:RKLB) had its target price increased by investment analysts at Cantor Fitzgerald from $7.00 to $24.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the rocket manufacturer’s stock. Cantor Fitzgerald’s target price would indicate a potential upside of 26.32% from the company’s current price.

Several other equities research analysts also recently commented on RKLB. JMP Securities began coverage on shares of Rocket Lab USA in a research note on Thursday, September 12th. They issued a “market perform” rating on the stock. Stifel Nicolaus lifted their price target on Rocket Lab USA from $15.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday. Wells Fargo & Company lifted their price target on Rocket Lab USA from $5.25 to $13.50 and gave the company an “equal weight” rating in a report on Wednesday. The Goldman Sachs Group lifted their price target on Rocket Lab USA from $4.50 to $5.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Finally, Citigroup lifted their price target on Rocket Lab USA from $7.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $14.72.

Rocket Lab USA Stock Up 9.4 %

RKLB opened at $19.00 on Thursday. Rocket Lab USA has a fifty-two week low of $3.47 and a fifty-two week high of $22.55. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.43. The firm’s fifty day moving average price is $10.11 and its two-hundred day moving average price is $6.77. The company has a market capitalization of $9.44 billion, a P/E ratio of -51.35 and a beta of 1.29.

Rocket Lab USA (NASDAQ:RKLB) last posted its quarterly earnings results on Tuesday, November 12th. The rocket manufacturer reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.01. Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. The firm had revenue of $104.81 million for the quarter, compared to the consensus estimate of $102.74 million. On average, analysts anticipate that Rocket Lab USA will post -0.39 EPS for the current year.

Insider Activity

In related news, General Counsel Arjun Kampani sold 28,563 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total value of $198,798.48. Following the completion of the transaction, the general counsel now directly owns 637,558 shares in the company, valued at approximately $4,437,403.68. The trade was a 4.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Adam C. Spice sold 62,512 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were 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 $9,195,308.40. This represents a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 130,521 shares of company stock valued at $906,059 in the last ninety days. 13.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Rocket Lab USA

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Rocket Lab USA by 9.2% during the 1st quarter. Vanguard Group Inc. now owns 29,000,578 shares of the rocket manufacturer’s stock worth $119,192,000 after acquiring an additional 2,448,789 shares during the last quarter. ARK Investment Management LLC boosted its position in Rocket Lab USA by 6.6% during 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 during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Rocket Lab USA by 22.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer’s stock worth $28,006,000 after acquiring an additional 532,207 shares during the last quarter. American Century Companies Inc. boosted its position in Rocket Lab USA by 11.1% during the 2nd quarter. American Century Companies Inc. now owns 2,856,973 shares of the rocket manufacturer’s stock worth $13,713,000 after acquiring an additional 284,360 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in Rocket Lab USA by 25.6% during 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 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.