Rocket Lab USA (NASDAQ:RKLB) Receives Overweight Rating from Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Rocket Lab USA (NASDAQ:RKLB) in a research note published on Monday, Benzinga reports. The brokerage currently has a $6.00 price target on the rocket manufacturer’s stock.

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

Rocket Lab USA Stock Performance

Shares of RKLB stock opened at $4.62 on Monday. Rocket Lab USA has a one year low of $3.47 and a one year high of $8.05. The company’s 50-day moving average is $4.38 and its 200 day moving average is $4.46. The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of -12.49 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 announced its quarterly earnings results on Monday, May 6th. The rocket manufacturer reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.02. The firm 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 quarterly revenue was up 69.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.10) EPS. Sell-side analysts expect that Rocket Lab USA will post -0.41 EPS for the current fiscal year.

Insiders Place Their Bets

In other Rocket Lab USA news, CFO Adam C. Spice sold 63,529 shares of the firm’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 $268,092.38. Following 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 document filed with the SEC, which is available through this hyperlink. In other news, CFO Adam C. Spice sold 63,529 shares of Rocket Lab USA 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 $268,092.38. Following the sale, the chief financial officer now owns 1,383,677 shares in the company, valued at $5,839,116.94. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, General Counsel Arjun Kampani sold 29,026 shares of Rocket Lab USA 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 sale, the general counsel now owns 666,121 shares in the company, valued at approximately $2,811,030.62. The disclosure for this sale can be found here. 13.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Rocket Lab USA

Institutional investors and hedge funds have recently modified their holdings of the stock. Deutsche Bank AG increased its position in Rocket Lab USA by 14.8% in the third quarter. Deutsche Bank AG now owns 135,146 shares of the rocket manufacturer’s stock worth $592,000 after purchasing an additional 17,374 shares during the last quarter. Qube Research & Technologies Ltd bought a new stake in Rocket Lab USA in the third quarter worth $2,271,000. Graham Capital Management L.P. bought a new stake in Rocket Lab USA in the third quarter worth $221,000. American Century Companies Inc. increased its position 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 worth $16,213,000 after purchasing an additional 396,501 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in Rocket Lab USA by 14.6% in the third quarter. Wellington Management Group LLP now owns 851,280 shares of the rocket manufacturer’s stock worth $3,729,000 after purchasing an additional 108,451 shares during the last quarter. Institutional investors own 71.78% of the company’s stock.

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.