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

Cantor Fitzgerald restated their overweight rating on shares of Rocket Lab USA (NASDAQ:RKLB) in a research note published on Monday morning, Benzinga reports. The firm currently has a $7.00 target price on the rocket manufacturer’s stock.

Several other equities research analysts have also issued reports on RKLB. JMP Securities initiated coverage on shares of Rocket Lab USA in a report on Thursday, September 12th. They issued a market perform rating for the company. Citigroup increased their target price on shares of Rocket Lab USA from $5.45 to $7.00 and gave the stock a buy rating in a report on Wednesday, August 14th. The Goldman Sachs Group assumed coverage on shares of Rocket Lab USA in a report on Tuesday, June 11th. They set a neutral rating and a $4.50 price objective for the company. Roth Mkm reaffirmed a buy rating and set a $7.00 price objective on shares of Rocket Lab USA in a report on Tuesday, June 18th. Finally, BTIG Research assumed coverage on shares of Rocket Lab USA in a report on Wednesday, June 26th. They set a neutral rating for the company. Five research 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.com, the company currently has an average rating of Moderate Buy and a consensus target price of $6.86.

Rocket Lab USA Price Performance

Shares of NASDAQ:RKLB opened at $8.62 on Monday. The firm’s 50 day moving average price is $6.10 and its 200-day moving average price is $4.93. The stock has a market capitalization of $4.25 billion, a PE ratio of -23.30 and a beta of 1.27. Rocket Lab USA has a twelve month low of $3.47 and a twelve month high of $8.79. The company has a quick ratio of 2.43, a current ratio of 2.82 and a debt-to-equity ratio of 0.90.

Rocket Lab USA (NASDAQ:RKLB) last released its earnings results on Thursday, August 8th. The rocket manufacturer reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.02. The company had revenue of $106.25 million during the quarter, compared to analyst estimates of $105.47 million. Rocket Lab USA had a negative net margin of 54.17% and a negative return on equity of 34.12%. The firm’s quarterly revenue was up 71.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.10) EPS. Equities research analysts expect that Rocket Lab USA will post -0.39 EPS for the current year.

Insider Activity at Rocket Lab USA

In related news, CFO Adam C. Spice sold 62,512 shares of the firm’s stock in a transaction 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 directly owns 1,321,165 shares of the company’s stock, valued at $9,195,308.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Michael D. Griffin sold 39,446 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $6.90, for a total value of $272,177.40. Following the completion of the transaction, the director now directly owns 42,353 shares of the company’s stock, valued at $292,235.70. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Adam C. Spice sold 62,512 shares of the firm’s 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 completion of the transaction, the chief financial officer now directly owns 1,321,165 shares of the company’s stock, valued at $9,195,308.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 130,521 shares of company stock valued at $906,059. 13.70% of the stock is owned by corporate insiders.

Institutional Trading of Rocket Lab USA

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Rocket Lab USA by 9.2% in 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 last quarter. Principal Financial Group Inc. lifted its position in Rocket Lab USA by 18.1% in the first quarter. Principal Financial Group Inc. now owns 38,074 shares of the rocket manufacturer’s stock worth $156,000 after buying an additional 5,838 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its position in Rocket Lab USA by 40.9% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 91,619 shares of the rocket manufacturer’s stock worth $440,000 after buying an additional 26,605 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Rocket Lab USA by 2.3% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 294,054 shares of the rocket manufacturer’s stock worth $1,209,000 after buying an additional 6,534 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its position in Rocket Lab USA by 15.7% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,691,090 shares of the rocket manufacturer’s stock worth $6,950,000 after buying an additional 229,512 shares during the last quarter. 71.78% of the stock is currently owned by institutional investors.

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.