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

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

Several other equities analysts have also commented on RKLB. Wells Fargo & Company decreased their price target on Rocket Lab USA from $5.00 to $4.25 and set an equal weight rating on the stock in a research note on Thursday, April 4th. BTIG Research began coverage on Rocket Lab USA in a report on Wednesday, June 26th. They issued a neutral rating on the stock. The Goldman Sachs Group began coverage on Rocket Lab USA in a research note on Tuesday, June 11th. They set a neutral rating and a $4.50 price target on the stock. Roth Mkm restated a buy rating and set a $7.00 price target on shares of Rocket Lab USA in a research note on Tuesday, June 18th. Finally, Citigroup dropped their target price on Rocket Lab USA from $6.00 to $5.45 and set a buy rating on the stock in a report on Tuesday, May 7th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Rocket Lab USA presently has a consensus rating of Moderate Buy and an average price target of $6.65.

Rocket Lab USA Stock Down 5.4 %

Shares of NASDAQ:RKLB opened at $4.54 on Monday. The company has a quick ratio of 2.69, a current ratio of 3.12 and a debt-to-equity ratio of 0.86. The business has a fifty day moving average of $4.33 and a two-hundred day moving average of $4.46. The stock has a market cap of $2.24 billion, a P/E ratio of -12.27 and a beta of 1.25. Rocket Lab USA has a 52-week low of $3.47 and a 52-week high of $8.05.

Rocket Lab USA (NASDAQ:RKLB) last announced its quarterly earnings results on Monday, May 6th. The rocket manufacturer reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.02. Rocket Lab USA had a negative return on equity of 32.50% and a negative net margin of 64.15%. The business had revenue of $92.80 million for the quarter, compared to analyst estimates of $94.98 million. During the same quarter in the prior year, the company posted ($0.10) EPS. The company’s quarterly revenue was up 69.0% on a year-over-year basis. On average, research analysts expect that Rocket Lab USA will post -0.41 earnings per share for the current year.

Insider Activity

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

Institutional Investors Weigh In On Rocket Lab USA

Large investors have recently modified their holdings of the stock. Deutsche Bank AG raised its holdings in Rocket Lab USA by 14.8% during the third quarter. Deutsche Bank AG now owns 135,146 shares of the rocket manufacturer’s stock valued at $592,000 after buying an additional 17,374 shares in the last quarter. Qube Research & Technologies Ltd bought a new position in Rocket Lab USA in the 3rd quarter worth approximately $2,271,000. Graham Capital Management L.P. bought a new position in Rocket Lab USA in the 3rd quarter worth approximately $221,000. American Century Companies Inc. raised its position in Rocket Lab USA by 12.0% in the 3rd 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 raised its position in Rocket Lab USA by 14.6% in the 3rd 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. 71.78% of the stock is owned by institutional investors.

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.