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

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

Other equities research analysts have also recently issued research reports about the company. 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. JMP Securities initiated coverage on Rocket Lab USA in a report on Thursday, September 12th. They issued a market perform rating for the company. BTIG Research initiated coverage on Rocket Lab USA in a report on Wednesday, June 26th. They issued a neutral rating for the company. Morgan Stanley cut Rocket Lab USA from an overweight rating to an equal weight rating and dropped their price objective for the stock from $8.00 to $6.00 in a report on Monday, July 15th. Finally, The Goldman Sachs Group initiated coverage on Rocket Lab USA in a report on Tuesday, June 11th. They issued a neutral rating and a $4.50 price objective for the company. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $6.86.

Rocket Lab USA Price Performance

RKLB opened at $8.62 on Monday. The stock’s 50 day simple moving average is $6.10 and its 200 day simple moving average is $4.93. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.82 and a quick ratio of 2.43. Rocket Lab USA has a 1 year low of $3.47 and a 1 year high of $8.79. The firm has a market cap of $4.25 billion, a price-to-earnings ratio of -23.30 and a beta of 1.27.

Rocket Lab USA (NASDAQ:RKLB) last released its quarterly earnings data on Thursday, August 8th. The rocket manufacturer reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.02. Rocket Lab USA had a negative return on equity of 34.12% and a negative net margin of 54.17%. The business had revenue of $106.25 million during the quarter, compared to analysts’ expectations of $105.47 million. During the same quarter last year, the business posted ($0.10) EPS. The business’s revenue was up 71.2% on a year-over-year basis. As a group, analysts predict that Rocket Lab USA will post -0.39 earnings per share for the current year.

Insider Buying and Selling at Rocket Lab USA

In other Rocket Lab USA news, CFO Adam C. Spice sold 62,512 shares of Rocket Lab USA stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Rocket Lab USA news, CFO Adam C. Spice sold 62,512 shares of Rocket Lab USA stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total value of $435,083.52. Following the completion of the sale, the chief financial officer now owns 1,321,165 shares of the company’s stock, valued at approximately $9,195,308.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Arjun Kampani sold 28,563 shares of Rocket Lab USA stock in a transaction on Thursday, August 22nd. The stock was 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 of the company’s stock, valued at approximately $4,437,403.68. The disclosure for this sale can be found here. Over the last 90 days, insiders 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

A number of institutional investors and hedge funds have recently modified their holdings of the business. Advisors Asset Management Inc. grew 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 period. International Assets Investment Management LLC bought a new position in shares of Rocket Lab USA in the 2nd quarter worth approximately $46,000. Baxter Bros Inc. bought a new position in shares of Rocket Lab USA in the 2nd quarter worth approximately $48,000. Amalgamated Bank lifted its stake in shares of Rocket Lab USA by 26.7% in the 2nd quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock worth $58,000 after purchasing an additional 2,538 shares during the period. Finally, Brown Advisory Inc. bought a new position in shares of Rocket Lab USA in the 4th quarter worth approximately $61,000. 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.