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

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

Other equities analysts have also recently issued reports about the stock. The Goldman Sachs Group assumed coverage on shares of Rocket Lab USA in a research note on Tuesday, June 11th. They issued a neutral rating and a $4.50 target price for the company. Wells Fargo & Company decreased their target price on 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. Citigroup cut their price target 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. Finally, Roth Mkm reiterated a buy rating and issued a $7.00 price objective on shares of Rocket Lab USA in a report on Tuesday, June 18th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Rocket Lab USA currently has an average rating of Moderate Buy and an average target price of $6.65.

Rocket Lab USA Stock Up 4.4 %

RKLB stock opened at $5.01 on Thursday. The company has a debt-to-equity ratio of 0.86, a current ratio of 3.12 and a quick ratio of 2.69. Rocket Lab USA has a fifty-two week low of $3.47 and a fifty-two week high of $8.05. The business has a 50-day moving average of $4.18 and a 200-day moving average of $4.46. The stock has a market capitalization of $2.47 billion, a P/E ratio of -13.54 and a beta of 1.23.

Rocket Lab USA (NASDAQ:RKLB) last announced its quarterly earnings data on Monday, May 6th. The rocket manufacturer reported ($0.09) earnings per share 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 company had revenue of $92.80 million during the quarter, compared to analysts’ expectations of $94.98 million. During the same quarter last year, the company earned ($0.10) EPS. Rocket Lab USA’s revenue for the quarter was up 69.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Rocket Lab USA will post -0.41 earnings per share for the current fiscal year.

Insider Transactions at Rocket Lab USA

In related news, CFO Adam C. Spice sold 63,529 shares of the company’s stock in a transaction dated 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 directly owns 1,383,677 shares in the company, valued at $5,839,116.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, General Counsel Arjun Kampani sold 29,026 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 value of $122,489.72. Following the transaction, the general counsel now owns 666,121 shares in the company, valued at $2,811,030.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Adam C. Spice sold 63,529 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were 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 of the company’s stock, valued at approximately $5,839,116.94. The disclosure for this sale can be found here. Insiders own 13.70% of the company’s stock.

Hedge Funds Weigh In On Rocket Lab USA

Hedge funds and other institutional investors have recently made changes to their positions in the company. FNY Investment Advisers LLC bought a new stake in Rocket Lab USA during the fourth quarter worth $34,000. Spire Wealth Management boosted its stake 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 valued at $41,000 after buying an additional 7,200 shares in the last quarter. MQS Management LLC bought a new position in Rocket Lab USA in the third quarter valued at about $44,000. CenterBook Partners LP acquired a new position in Rocket Lab USA during the third quarter worth about $44,000. Finally, Advisors Asset Management Inc. lifted its holdings in shares of 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 acquiring an additional 4,032 shares during the last quarter. 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.