Rocket Lab USA (NASDAQ:RKLB) Stock Price Expected to Rise, Cantor Fitzgerald Analyst Says

Rocket Lab USA (NASDAQ:RKLB - Free Report) had its target price upped by Cantor Fitzgerald from $7.00 to $24.00 in a research report released on Thursday,Benzinga reports. Cantor Fitzgerald currently has an overweight rating on the rocket manufacturer's stock.

Several other analysts also recently weighed in on the company. KeyCorp lifted their target price on Rocket Lab USA from $11.00 to $12.00 and gave the company an "overweight" rating in a research note on Thursday, October 24th. The Goldman Sachs Group boosted their target price on Rocket Lab USA from $4.50 to $5.00 and gave the stock a "neutral" rating in a research report on Thursday, October 10th. Citigroup lifted their target price on Rocket Lab USA from $7.00 to $13.00 and gave the company a "buy" rating in a research note on Wednesday, November 6th. Stifel Nicolaus lifted their price target on Rocket Lab USA from $15.00 to $22.00 and gave the company a "buy" rating in a report on Wednesday. Finally, Wells Fargo & Company increased their target price on shares of Rocket Lab USA from $5.25 to $13.50 and gave the stock an "equal weight" rating in a research report on Wednesday. Five equities 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 company currently has a consensus rating of "Moderate Buy" and a consensus price target of $14.72.

Rocket Lab USA Price Performance

Shares of Rocket Lab USA stock traded down $1.47 during trading on Thursday, hitting $17.36. 45,129,240 shares of the company were exchanged, compared to its average volume of 10,801,572. Rocket Lab USA has a fifty-two week low of $3.47 and a fifty-two 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 firm has a 50 day moving average price of $9.89 and a 200 day moving average price of $6.70. The stock has a market capitalization of $8.62 billion, a price-to-earnings ratio of -48.86 and a beta of 1.29.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The rocket manufacturer reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.01. The business had revenue of $104.81 million for the quarter, compared to analyst estimates 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, equities analysts expect that Rocket Lab USA will post -0.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Rocket Lab USA news, 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 directly owns 637,558 shares of the company's stock, valued at $4,437,403.68. This trade represents a 4.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction, the director now directly owns 42,353 shares of the company's stock, valued at $292,235.70. This trade represents a 48.22 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 130,521 shares of company stock valued at $906,059. Company insiders own 13.70% of the company's stock.

Hedge Funds Weigh In On Rocket Lab USA

Hedge funds have recently made changes to their positions in the stock. Janney Montgomery Scott LLC bought a new stake in Rocket Lab USA during the 1st quarter worth approximately $192,000. ProShare Advisors LLC grew its holdings in shares of Rocket Lab USA by 10.2% during the first quarter. ProShare Advisors LLC now owns 50,879 shares of the rocket manufacturer's stock worth $209,000 after purchasing an additional 4,713 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Rocket Lab USA by 2.3% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 294,054 shares of the rocket manufacturer's stock worth $1,209,000 after purchasing an additional 6,534 shares in the last quarter. Tocqueville Asset Management L.P. increased its holdings in shares of Rocket Lab USA by 217.1% in the first quarter. Tocqueville Asset Management L.P. now owns 1,284,060 shares of the rocket manufacturer's stock worth $5,277,000 after buying an additional 879,160 shares during the period. Finally, Vanguard Group Inc. grew its position in Rocket Lab USA by 9.2% during the 1st quarter. Vanguard Group Inc. now owns 29,000,578 shares of the rocket manufacturer's stock worth $119,192,000 after acquiring an additional 2,448,789 shares during the last quarter. 71.78% of the stock is currently owned by 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.