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 report published on Monday, Benzinga reports. Cantor Fitzgerald currently has a $6.00 price target on the rocket manufacturer’s stock.

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

Rocket Lab USA Stock Performance

Shares of RKLB stock opened at $4.62 on Monday. The stock has a fifty day moving average of $4.36 and a 200 day moving average of $4.46. Rocket Lab USA has a 52 week low of $3.47 and a 52 week high of $8.05. The firm 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 quick ratio of 2.69, a current ratio of 3.12 and a debt-to-equity ratio of 0.86.

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 analysts’ consensus estimates of ($0.11) by $0.02. The business had revenue of $92.80 million during the quarter, compared to the consensus estimate of $94.98 million. Rocket Lab USA had a negative return on equity of 32.50% and a negative net margin of 64.15%. The firm’s quarterly revenue was up 69.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.10) earnings per share. As a group, research analysts expect that Rocket Lab USA will post -0.41 earnings per share for the current year.

Insider Activity

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

Institutional Investors Weigh In On Rocket Lab USA

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Rocket Lab USA by 9.2% in the 1st 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 in the last quarter. American Century Companies Inc. increased its holdings 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 buying an additional 396,501 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Rocket Lab USA by 1.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,081,839 shares of the rocket manufacturer’s stock worth $11,513,000 after buying an additional 24,232 shares in the last quarter. Nikko Asset Management Americas Inc. boosted its position in Rocket Lab USA by 15.7% in the first quarter. Nikko Asset Management Americas Inc. now owns 1,691,090 shares of the rocket manufacturer’s stock worth $6,917,000 after purchasing an additional 229,512 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted 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 purchasing 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.