Cantor Fitzgerald reiterated their overweight rating on shares of Rocket Lab USA (NASDAQ:RKLB – Free Report) in a report released on Monday morning, Benzinga reports. They currently have a $6.00 price objective on the rocket manufacturer’s stock.
RKLB has been the subject of a number of other reports. BTIG Research assumed coverage on Rocket Lab USA in a report on Wednesday, June 26th. They issued a neutral rating for the company. Morgan Stanley downgraded Rocket Lab USA from an overweight rating to an equal weight rating and lowered their price objective for the stock from $8.00 to $6.00 in a research report on Monday. Roth Mkm reaffirmed a buy rating and issued a $7.00 target price on shares of Rocket Lab USA in a 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, Citigroup reduced their price objective on shares of Rocket Lab USA from $6.00 to $5.45 and set a buy rating on the stock in a report on Tuesday, May 7th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $6.58.
View Our Latest Research Report on Rocket Lab USA
Rocket Lab USA Price Performance
RKLB opened at $5.72 on Monday. The stock’s 50-day moving average price is $4.58 and its 200 day moving average price is $4.46. Rocket Lab USA has a 12-month low of $3.47 and a 12-month high of $8.05. The firm has a market cap of $2.82 billion, a price-to-earnings ratio of -15.46 and a beta of 1.25. The company has a current ratio of 3.12, a quick ratio of 2.69 and a debt-to-equity ratio of 0.86.
Rocket Lab USA (NASDAQ:RKLB – Get Free Report) last posted its quarterly earnings data on Monday, May 6th. The rocket manufacturer reported ($0.09) EPS for the quarter, beating the consensus estimate 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 business had revenue of $92.80 million during the quarter, compared to analyst estimates of $94.98 million. During the same quarter last year, the firm posted ($0.10) earnings per share. The business’s revenue for the quarter was up 69.0% compared to the same quarter last year. As a group, sell-side analysts expect that Rocket Lab USA will post -0.41 earnings per share for the current year.
Insider Activity at Rocket Lab USA
In other Rocket Lab USA news, CFO Adam C. Spice sold 63,529 shares of the firm’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $4.22, for a total transaction of $268,092.38. Following the transaction, the chief financial officer now owns 1,383,677 shares of the company’s stock, valued at $5,839,116.94. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Adam C. Spice sold 63,529 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $4.22, for a total transaction 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 sale was disclosed in a legal filing with the SEC, 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 transaction, the general counsel now directly owns 666,121 shares in the company, valued at $2,811,030.62. The disclosure for this sale can be found here. 13.70% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Rocket Lab USA
A number of institutional investors and hedge funds have recently made changes to their positions in RKLB. Graham Capital Management L.P. purchased a new stake in Rocket Lab USA during the 3rd quarter valued at approximately $221,000. American Century Companies Inc. lifted its holdings in shares of Rocket Lab USA by 12.0% during the third quarter. American Century Companies Inc. now owns 3,701,611 shares of the rocket manufacturer’s stock worth $16,213,000 after purchasing an additional 396,501 shares during the period. Wellington Management Group LLP grew its position in Rocket Lab USA by 14.6% in the 3rd quarter. Wellington Management Group LLP now owns 851,280 shares of the rocket manufacturer’s stock valued at $3,729,000 after buying an additional 108,451 shares during the last quarter. Vanguard Group Inc. increased its stake in Rocket Lab USA by 4.7% in the 3rd quarter. Vanguard Group Inc. now owns 26,100,419 shares of the rocket manufacturer’s stock valued at $114,320,000 after buying an additional 1,167,403 shares during the period. Finally, SG Americas Securities LLC purchased a new position in Rocket Lab USA during the 4th quarter worth $124,000. 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.
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