Rocket Lab USA (NASDAQ:RKLB) Given "Overweight" Rating at Cantor Fitzgerald

Rocket Lab USA (NASDAQ:RKLB - Get Free Report)'s stock had its "overweight" rating reaffirmed by equities research analysts at Cantor Fitzgerald in a report released on Monday, Benzinga reports. They currently have a $7.00 price target on the rocket manufacturer's stock. Cantor Fitzgerald's price objective suggests a potential downside of 30.35% from the company's previous close.

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A number of other research firms have also issued reports on RKLB. BTIG Research assumed coverage on Rocket Lab USA in a report on Wednesday, June 26th. They issued a "neutral" rating on the stock. Roth Mkm restated a "buy" rating and issued a $7.00 price target on shares of Rocket Lab USA in a research report on Tuesday, June 18th. KeyCorp raised their target price on shares of Rocket Lab USA from $8.00 to $11.00 and gave the stock an "overweight" rating in a research report on Friday. Morgan Stanley lowered shares of Rocket Lab USA from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $8.00 to $6.00 in a report on Monday, July 15th. Finally, Citigroup boosted their target price on shares of Rocket Lab USA from $5.45 to $7.00 and gave the stock a "buy" rating in a research report on Wednesday, August 14th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Rocket Lab USA presently has an average rating of "Hold" and an average target price of $6.68.

Read Our Latest Stock Report on RKLB

Rocket Lab USA Stock Up 2.8 %

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Shares of RKLB traded up $0.27 during midday trading on Monday, hitting $10.05. The company had a trading volume of 7,796,575 shares, compared to its average volume of 9,546,316. The company's 50-day simple moving average is $6.26 and its 200-day simple moving average is $5.00. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.43 and a current ratio of 2.82. The firm has a market capitalization of $4.95 billion, a P/E ratio of -27.08 and a beta of 1.27. Rocket Lab USA has a 1 year low of $3.47 and a 1 year high of $10.29.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last posted its earnings results 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. 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 return on equity of 34.12% and a negative net margin of 54.17%. The firm's revenue was up 71.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.10) earnings per share. As a group, sell-side analysts expect that Rocket Lab USA will post -0.39 EPS for the current year.

Insider Transactions at Rocket Lab USA

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In other news, CFO Adam C. Spice sold 62,512 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 transaction of $435,083.52. Following the sale, the chief financial officer now owns 1,321,165 shares in the company, valued at $9,195,308.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Rocket Lab USA news, CFO Adam C. Spice sold 62,512 shares of the company'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 $435,083.52. Following the transaction, the chief financial officer now owns 1,321,165 shares in the company, valued at approximately $9,195,308.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Michael D. Griffin sold 39,446 shares of the company's stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $6.90, for a total transaction of $272,177.40. Following the completion of the transaction, the director now owns 42,353 shares in the company, valued at approximately $292,235.70. The disclosure for this sale can be found here. In the last three months, insiders sold 130,521 shares of company stock valued at $906,059. Company insiders own 13.70% of the company's stock.

Institutional Investors Weigh In On Rocket Lab USA

A number of hedge funds have recently made changes to their positions in RKLB. Advisors Asset Management Inc. boosted its stake in shares of Rocket Lab USA by 59.4% in 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 during the last quarter. International Assets Investment Management LLC bought a new position in shares of Rocket Lab USA in the second quarter valued at $46,000. Baxter Bros Inc. bought a new position in Rocket Lab USA during the second quarter worth $48,000. Amalgamated Bank boosted its position in Rocket Lab USA by 26.7% during the second 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, CIBC Asset Management Inc bought a new stake in shares of Rocket Lab USA in the second quarter valued at about $67,000. Institutional investors and hedge funds own 71.78% of the company's stock.

Rocket Lab USA Company Profile

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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