Rocket Lab USA (NASDAQ:RKLB) Earns “Overweight” Rating from Cantor Fitzgerald

Rocket Lab USA (NASDAQ:RKLB)‘s stock had its “overweight” rating reissued by analysts at Cantor Fitzgerald in a research report issued on Monday, Benzinga reports. They presently have a $6.00 target price on the rocket manufacturer’s stock. Cantor Fitzgerald’s target price would indicate a potential upside of 31.87% from the stock’s current price.

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

Rocket Lab USA Stock Down 5.2 %

Shares of NASDAQ RKLB traded down $0.25 during mid-day trading on Monday, reaching $4.55. The company had a trading volume of 3,796,737 shares, compared to its average volume of 8,196,778. The stock has a fifty day moving average of $4.31 and a two-hundred day moving average of $4.47. Rocket Lab USA has a 12-month low of $3.47 and a 12-month high of $8.05. The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of -12.30 and a beta of 1.25. 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 (NASDAQ:RKLB) last posted its quarterly earnings data on Monday, May 6th. The rocket manufacturer reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.02. The company had revenue of $92.80 million for the quarter, compared to the consensus estimate of $94.98 million. Rocket Lab USA had a negative net margin of 64.15% and a negative return on equity of 32.50%. The business’s revenue was up 69.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.10) EPS. As a group, equities research analysts expect that Rocket Lab USA will post -0.41 EPS for the current year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Rocket Lab USA

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of 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 valued at $119,192,000 after buying an additional 2,448,789 shares during the period. Tocqueville Asset Management L.P. grew its stake 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 worth $5,277,000 after buying an additional 879,160 shares during the last quarter. Qube Research & Technologies Ltd acquired a new position in shares of Rocket Lab USA during the third quarter worth approximately $2,271,000. American Century Companies Inc. lifted its holdings in Rocket Lab USA by 12.0% in 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 buying an additional 396,501 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake 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 valued at $1,567,000 after purchasing an additional 230,931 shares in 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.