Cantor Fitzgerald Reaffirms “Overweight” Rating for Rocket Lab USA (NASDAQ:RKLB)

Cantor Fitzgerald reissued their overweight rating on shares of Rocket Lab USA (NASDAQ:RKLB) in a report published on Monday, Benzinga reports. They currently have a $7.00 price objective on the rocket manufacturer’s stock.

Several other research analysts also recently issued reports on RKLB. Citigroup boosted their price objective 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. BTIG Research started coverage on Rocket Lab USA in a report on Wednesday, June 26th. They set a neutral rating on the stock. Morgan Stanley lowered Rocket Lab USA from an overweight rating to an equal weight rating and cut their target price for the company from $8.00 to $6.00 in a research note on Monday, July 15th. The Goldman Sachs Group assumed coverage on Rocket Lab USA in a research report on Tuesday, June 11th. They issued a neutral rating and a $4.50 target price for the company. Finally, KeyCorp increased their price objective on shares of Rocket Lab USA from $8.00 to $11.00 and gave the company an overweight rating in a research note on Friday, September 27th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Rocket Lab USA presently has a consensus rating of Hold and an average price target of $6.68.

Rocket Lab USA Trading Down 4.7 %

Shares of NASDAQ:RKLB opened at $9.25 on Monday. The stock has a market capitalization of $4.56 billion, a PE ratio of -25.00 and a beta of 1.32. The firm has a fifty day moving average price of $6.59 and a 200 day moving average price of $5.14. Rocket Lab USA has a 1 year low of $3.47 and a 1 year high of $10.29. The company has a current ratio of 2.82, a quick ratio of 2.43 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 for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.02. The firm 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 business’s revenue was up 71.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.10) EPS. Analysts expect that Rocket Lab USA will post -0.39 EPS for the current fiscal year.

Insider Buying and Selling at Rocket Lab USA

In other news, CFO Adam C. Spice sold 62,512 shares of Rocket Lab USA stock in a transaction that occurred 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 owns 1,321,165 shares in the company, valued at $9,195,308.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Michael D. Griffin sold 39,446 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $6.90, for a total transaction of $272,177.40. Following the transaction, the director now owns 42,353 shares of the company’s stock, valued at $292,235.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Adam C. Spice sold 62,512 shares of the firm’s stock in a transaction dated 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 owns 1,321,165 shares in the company, valued at approximately $9,195,308.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 130,521 shares of company stock valued at $906,059. 13.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in RKLB. SG Americas Securities LLC bought a new stake in shares of Rocket Lab USA during the third quarter worth approximately $1,190,000. Sanctuary Advisors LLC bought a new position in shares of Rocket Lab USA in the 2nd quarter worth $76,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of Rocket Lab USA by 24.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 27,334 shares of the rocket manufacturer’s stock worth $131,000 after purchasing an additional 5,332 shares during the period. Creative Planning increased its holdings in Rocket Lab USA by 63.3% in the second quarter. Creative Planning now owns 60,043 shares of the rocket manufacturer’s stock valued at $288,000 after purchasing an additional 23,264 shares during the last quarter. Finally, Algert Global LLC bought a new stake in Rocket Lab USA in the second quarter valued at about $154,000. 71.78% of the stock is currently 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.