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

Cantor Fitzgerald reissued their overweight rating on shares of Rocket Lab USA (NASDAQ:RKLBFree Report) in a research note published on Monday, Benzinga reports. They currently have a $6.00 price target on the rocket manufacturer’s stock.

Several other research firms have also recently commented on RKLB. Roth Mkm reaffirmed a buy rating and issued a $7.00 price target on shares of Rocket Lab USA in a report on Tuesday, June 18th. The Goldman Sachs Group assumed coverage on Rocket Lab USA in a research note on Tuesday, June 11th. They set a neutral rating and a $4.50 target price for the company. Citigroup dropped their price objective on Rocket Lab USA from $6.00 to $5.45 and set a buy rating for the company in a research note on Tuesday, May 7th. BTIG Research began coverage on Rocket Lab USA in a research note on Wednesday, June 26th. They issued a neutral rating for the company. Finally, Wells Fargo & Company decreased their target price 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. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Rocket Lab USA has a consensus rating of Moderate Buy and an average target price of $6.65.

View Our Latest Analysis on Rocket Lab USA

Rocket Lab USA Trading Down 5.4 %

Shares of NASDAQ RKLB opened at $4.54 on Monday. The company has a debt-to-equity ratio of 0.86, a current ratio of 3.12 and a quick ratio of 2.69. The stock has a market capitalization of $2.24 billion, a P/E ratio of -12.27 and a beta of 1.25. Rocket Lab USA has a 1-year low of $3.47 and a 1-year high of $8.05. The business has a fifty day moving average price of $4.33 and a 200 day moving average price of $4.46.

Rocket Lab USA (NASDAQ:RKLBGet Free Report) last announced its quarterly earnings data on Monday, May 6th. The rocket manufacturer reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.02. The business had revenue of $92.80 million for the quarter, compared to analyst estimates 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 company’s revenue was up 69.0% on a year-over-year basis. During the same period in the prior year, the company earned ($0.10) earnings per share. Equities research analysts expect that Rocket Lab USA will post -0.41 EPS for the current fiscal year.

Insider Transactions at Rocket Lab USA

In related news, CFO Adam C. Spice sold 63,529 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $4.22, for a total value of $268,092.38. Following the transaction, the chief financial officer now directly owns 1,383,677 shares of the company’s stock, valued at approximately $5,839,116.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, 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 transaction, the chief financial officer now directly owns 1,383,677 shares in the company, valued at $5,839,116.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value of $122,489.72. Following the completion of the transaction, the general counsel now owns 666,121 shares of the company’s stock, valued at $2,811,030.62. 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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FNY Investment Advisers LLC bought a new position in shares of Rocket Lab USA in the fourth quarter valued at $34,000. Spire Wealth Management boosted its holdings in Rocket Lab USA by 257.1% in the first quarter. Spire Wealth Management now owns 10,000 shares of the rocket manufacturer’s stock worth $41,000 after purchasing an additional 7,200 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in Rocket Lab USA by 59.4% in the first quarter. Advisors Asset Management Inc. now owns 10,816 shares of the rocket manufacturer’s stock worth $44,000 after purchasing an additional 4,032 shares in the last quarter. Brown Advisory Inc. acquired a new position in Rocket Lab USA during the 4th quarter worth $61,000. Finally, Psagot Value Holdings Ltd. Israel lifted its position in Rocket Lab USA by 1,044.9% during the 4th quarter. Psagot Value Holdings Ltd. Israel now owns 14,037 shares of the rocket manufacturer’s stock worth $81,000 after acquiring an additional 12,811 shares during the last quarter. Institutional investors own 71.78% of the company’s stock.

About Rocket Lab USA

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Rocket Lab USA (NASDAQ:RKLB)

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