Cantor Fitzgerald Forecasts Strong Price Appreciation for Rocket Lab USA (NASDAQ:RKLB) Stock

Rocket Lab USA (NASDAQ:RKLB) had its target price boosted by equities research analysts at Cantor Fitzgerald from $7.00 to $24.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the rocket manufacturer’s stock. Cantor Fitzgerald’s target price would indicate a potential upside of 35.75% from the company’s previous close.

A number of other equities research analysts have also weighed in on RKLB. Wells Fargo & Company raised their price target on shares of Rocket Lab USA from $5.25 to $13.50 and gave the company an “equal weight” rating in a report on Wednesday. JMP Securities assumed coverage on Rocket Lab USA in a research note on Thursday, September 12th. They set a “market perform” rating for the company. Citigroup boosted their price target on Rocket Lab USA from $7.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Stifel Nicolaus raised their price objective on Rocket Lab USA from $15.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, The Goldman Sachs Group lifted their price objective on Rocket Lab USA from $4.50 to $5.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $12.81.

Rocket Lab USA Price Performance

Shares of RKLB traded down $1.15 during mid-day trading on Thursday, reaching $17.68. 13,521,038 shares of the company’s stock were exchanged, compared to its average volume of 10,658,778. Rocket Lab USA has a 52-week low of $3.47 and a 52-week high of $22.55. The company has a quick ratio of 2.43, a current ratio of 2.82 and a debt-to-equity ratio of 0.90. The company has a 50-day simple moving average of $9.89 and a two-hundred day simple moving average of $6.70. The company has a market cap of $8.78 billion, a price-to-earnings ratio of -47.78 and a beta of 1.29.

Rocket Lab USA (NASDAQ:RKLB) last announced its quarterly earnings data on Tuesday, November 12th. The rocket manufacturer reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. The business had revenue of $104.81 million during the quarter, compared to the consensus estimate of $102.74 million. Rocket Lab USA had a negative return on equity of 37.95% and a negative net margin of 51.76%. On average, sell-side analysts predict that Rocket Lab USA will post -0.39 EPS for the current fiscal year.

Insider Activity at Rocket Lab USA

In other news, CFO Adam C. Spice sold 62,512 shares of the company’s stock in a transaction 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 directly owns 1,321,165 shares of the company’s stock, valued at approximately $9,195,308.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Rocket Lab USA 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 value of $435,083.52. Following the completion of the sale, the chief financial officer now directly owns 1,321,165 shares of the company’s stock, valued at $9,195,308.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Arjun Kampani sold 28,563 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total value of $198,798.48. Following the transaction, the general counsel now owns 637,558 shares in the company, valued at approximately $4,437,403.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 130,521 shares of company stock valued at $906,059. Corporate insiders own 13.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of RKLB. Advisors Asset Management Inc. lifted its position in shares of 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 worth $44,000 after purchasing an additional 4,032 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of Rocket Lab USA during the second quarter worth approximately $46,000. Baxter Bros Inc. bought a new stake in shares of Rocket Lab USA in the second quarter valued at approximately $48,000. Amalgamated Bank grew its stake in shares of Rocket Lab USA by 26.7% in the second quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock worth $58,000 after acquiring an additional 2,538 shares during the last quarter. Finally, CIBC Asset Management Inc bought a new position in Rocket Lab USA during the second quarter worth $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.