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

Cantor Fitzgerald reaffirmed 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 research analysts have also recently weighed in on RKLB. Roth Mkm restated a buy rating and issued a $7.00 price objective on shares of Rocket Lab USA in a report on Tuesday, June 18th. Citigroup dropped their price objective on shares of Rocket Lab USA from $6.00 to $5.45 and set a buy rating for the company in a report on Tuesday, May 7th. Wells Fargo & Company decreased their price target 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. Morgan Stanley downgraded shares of Rocket Lab USA from an overweight rating to an equal weight rating and decreased their price target for the stock from $8.00 to $6.00 in a research note on Monday, July 15th. Finally, BTIG Research initiated coverage on shares of Rocket Lab USA in a research note on Wednesday, June 26th. They issued a neutral rating for the company. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Rocket Lab USA presently has a consensus rating of Moderate Buy and a consensus price target of $6.58.

Rocket Lab USA Trading Down 3.5 %

Shares of RKLB stock opened at $5.21 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 market cap of $2.57 billion, a PE ratio of -14.08 and a beta of 1.25. The company has a 50-day moving average of $4.74 and a two-hundred day moving average of $4.47. Rocket Lab USA has a 1-year low of $3.47 and a 1-year high of $7.79.

Rocket Lab USA (NASDAQ:RKLB) last posted its quarterly earnings data on Monday, May 6th. The rocket manufacturer reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.02. The business had revenue of $92.80 million during the quarter, compared to analyst estimates 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 for the quarter was up 69.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.10) earnings per share. On average, analysts predict that Rocket Lab USA will post -0.41 EPS for the current year.

Insider Transactions at Rocket Lab USA

In other news, General Counsel Arjun Kampani sold 29,026 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $4.22, for a total transaction of $122,489.72. Following the completion of the sale, the general counsel now owns 666,121 shares in the company, valued at approximately $2,811,030.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Adam C. Spice sold 63,529 shares of the company’s 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 sale, the chief financial officer now owns 1,383,677 shares in the company, valued at approximately $5,839,116.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Arjun Kampani sold 29,026 shares of the company’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $4.22, for a total transaction of $122,489.72. Following the completion of the sale, the general counsel now owns 666,121 shares of the company’s stock, valued at approximately $2,811,030.62. The disclosure for this sale can be found here. Insiders own 13.70% of the company’s stock.

Hedge Funds Weigh In On Rocket Lab USA

Several institutional investors have recently bought and sold shares of the company. Raymond James & Associates grew its stake in shares of Rocket Lab USA by 10.3% during the 4th quarter. Raymond James & Associates now owns 21,825 shares of the rocket manufacturer’s stock worth $121,000 after purchasing an additional 2,040 shares during the period. Cerity Partners LLC grew its stake in shares of Rocket Lab USA by 14.5% during the 4th quarter. Cerity Partners LLC now owns 17,630 shares of the rocket manufacturer’s stock worth $97,000 after purchasing an additional 2,230 shares during the period. 180 Wealth Advisors LLC grew its stake in shares of Rocket Lab USA by 7.5% during 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. New York State Common Retirement Fund grew its stake in shares of Rocket Lab USA by 2.5% during the 4th quarter. New York State Common Retirement Fund now owns 114,781 shares of the rocket manufacturer’s stock worth $635,000 after purchasing an additional 2,845 shares during the period. Finally, Avitas Wealth Management LLC boosted its position in shares of Rocket Lab USA by 2.5% in the 4th quarter. Avitas Wealth Management LLC now owns 121,332 shares of the rocket manufacturer’s stock worth $671,000 after buying an additional 2,913 shares in the last quarter. 71.78% of the stock is owned by institutional investors and hedge funds.

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.