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

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

Rocket Lab USA Trading Up 0.2 %

RKLB opened at $4.62 on Monday. The company’s 50 day moving average is $4.36 and its 200-day moving average is $4.46. Rocket Lab USA has a 1-year low of $3.47 and a 1-year high of $8.05. The company has a current ratio of 3.12, a quick ratio of 2.69 and a debt-to-equity ratio of 0.86. The company has a market cap of $2.28 billion, a P/E ratio of -12.49 and a beta of 1.25.

Rocket Lab USA (NASDAQ:RKLB) last posted its quarterly earnings results 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. Rocket Lab USA had a negative net margin of 64.15% and a negative return on equity of 32.50%. The company had revenue of $92.80 million for the quarter, compared to the consensus estimate of $94.98 million. During the same period last year, the company posted ($0.10) EPS. The firm’s quarterly revenue was up 69.0% compared to the same quarter last year. Equities research analysts predict that Rocket Lab USA will post -0.41 earnings per share for the current fiscal year.

Insider Activity

In other news, 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 completion of the sale, the chief financial officer now owns 1,383,677 shares in the company, valued at approximately $5,839,116.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, 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 completion of the sale, the chief financial officer now owns 1,383,677 shares in the company, valued at approximately $5,839,116.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Arjun Kampani sold 29,026 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 transaction of $122,489.72. Following the completion of the sale, the general counsel now owns 666,121 shares of the company’s stock, valued at approximately $2,811,030.62. The disclosure for this sale can be found here. 13.70% of the stock is currently owned by company insiders.

Institutional Trading of Rocket Lab USA

Hedge funds and other institutional investors have recently bought and sold shares of the business. FNY Investment Advisers LLC bought a new stake in Rocket Lab USA during the 4th quarter valued at $34,000. Spire Wealth Management increased its stake in Rocket Lab USA by 257.1% during the 1st quarter. Spire Wealth Management now owns 10,000 shares of the rocket manufacturer’s stock valued at $41,000 after purchasing an additional 7,200 shares in the last quarter. Advisors Asset Management Inc. increased its stake in Rocket Lab USA by 59.4% during the 1st quarter. Advisors Asset Management Inc. now owns 10,816 shares of the rocket manufacturer’s stock valued at $44,000 after purchasing an additional 4,032 shares in the last quarter. Brown Advisory Inc. bought a new stake in Rocket Lab USA during the 4th quarter valued at $61,000. Finally, Psagot Value Holdings Ltd. Israel increased its stake 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 valued at $81,000 after purchasing an additional 12,811 shares in the last quarter. Institutional investors own 71.78% of the company’s stock.

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.