Rocket Lab USA (NASDAQ:RKLB) Stock Rating Reaffirmed by Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Rocket Lab USA (NASDAQ:RKLB) in a research note released on Monday morning, Benzinga reports. Cantor Fitzgerald currently has a $7.00 price objective on the rocket manufacturer’s stock.

A number of other equities research analysts have also recently weighed in on RKLB. The Goldman Sachs Group started coverage on Rocket Lab USA in a report on Tuesday, June 11th. They issued a neutral rating and a $4.50 price target on the stock. JMP Securities began coverage on Rocket Lab USA in a research report on Thursday, September 12th. They issued a market perform rating for the company. Morgan Stanley downgraded Rocket Lab USA from an overweight rating to an equal weight rating and cut their price target for the stock from $8.00 to $6.00 in a research note on Monday, July 15th. 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. Finally, 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. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Rocket Lab USA currently has an average rating of Moderate Buy and a consensus target price of $6.86.

Rocket Lab USA Trading Up 0.8 %

Shares of RKLB stock opened at $8.69 on Monday. Rocket Lab USA has a 1-year low of $3.47 and a 1-year high of $8.98. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.82 and a quick ratio of 2.43. The business’s fifty day moving average price is $6.10 and its 200 day moving average price is $4.93. The firm has a market capitalization of $4.32 billion, a PE ratio of -23.70 and a beta of 1.27.

Rocket Lab USA (NASDAQ:RKLB) last announced its quarterly earnings data on Thursday, August 8th. The rocket manufacturer reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.02. The firm had revenue of $106.25 million during the quarter, compared to analysts’ expectations 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 for the quarter was up 71.2% compared to the same quarter last year. During the same quarter last year, the business earned ($0.10) earnings per share. As a group, sell-side analysts forecast that Rocket Lab USA will post -0.39 EPS for the current fiscal year.

Insider Buying and Selling

In other Rocket Lab USA news, Director Michael D. Griffin sold 39,446 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $6.90, for a total value of $272,177.40. Following the completion of the transaction, the director now directly owns 42,353 shares in the company, valued at approximately $292,235.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, General Counsel Arjun Kampani sold 28,563 shares of the business’s 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 $198,798.48. Following the completion of the sale, the general counsel now directly owns 637,558 shares in the company, valued at $4,437,403.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Michael D. Griffin sold 39,446 shares of the company’s stock in a transaction that occurred 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 directly owns 42,353 shares of the company’s stock, valued at approximately $292,235.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 130,521 shares of company stock worth $906,059. 13.70% of the stock is owned by insiders.

Institutional Trading of Rocket Lab USA

Several institutional investors have recently made changes to their positions in the stock. Victory Capital Management Inc. grew its position in Rocket Lab USA by 30.9% during the fourth quarter. Victory Capital Management Inc. now owns 39,631 shares of the rocket manufacturer’s stock valued at $219,000 after acquiring an additional 9,357 shares during the period. Charles Schwab Investment Management Inc. increased its position in Rocket Lab USA by 1.2% during 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 purchasing an additional 24,232 shares in the last quarter. Brown Advisory Inc. purchased a new position in Rocket Lab USA in the fourth quarter valued at approximately $61,000. Chesapeake Capital Corp IL acquired a new position in Rocket Lab USA during the fourth quarter valued at approximately $262,000. Finally, Scotia Capital Inc. grew its stake in Rocket Lab USA by 146.4% during the fourth quarter. Scotia Capital Inc. now owns 40,390 shares of the rocket manufacturer’s stock worth $223,000 after buying an additional 24,000 shares during the period. 71.78% of the stock is owned by hedge funds and other institutional investors.

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.