Rocket Lab (NASDAQ:RKLB) Earns Mixed Rating from Cantor Fitzgerald

Rocket Lab (NASDAQ:RKLB)‘s stock had its “mixed” rating reissued by equities researchers at Cantor Fitzgerald in a research report issued to clients and investors on Thursday, MarketBeat.com reports. They presently have a $122.00 price target on the rocket manufacturer’s stock. Cantor Fitzgerald’s price target would suggest a potential upside of 120.81% from the stock’s previous close.

A number of other research analysts have also commented on the company. Berenberg Bank began coverage on Rocket Lab in a research report on Wednesday, September 2nd. They issued a “buy” rating and a $83.00 price objective on the stock. Piper Sandler began coverage on shares of Rocket Lab in a research report on Wednesday, July 15th. They set a “neutral” rating and a $83.00 target price on the stock. Raymond James Financial began coverage on shares of Rocket Lab in a research report on Friday, September 11th. They set an “outperform” rating and a $80.00 target price on the stock. Craig Hallum upped their target price on shares of Rocket Lab from $98.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, June 29th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Rocket Lab in a research report on Friday, July 17th. Four investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $104.05.

Rocket Lab Price Performance

NASDAQ RKLB traded down $3.93 on Thursday, hitting $55.25. 48,280,785 shares of the company were exchanged, compared to its average volume of 23,096,555. The firm has a 50 day moving average of $69.50 and a two-hundred day moving average of $84.29. The company has a market cap of $33.06 billion, a P/E ratio of -204.62 and a beta of 2.93. The company has a current ratio of 5.48, a quick ratio of 4.98 and a debt-to-equity ratio of 0.01. Rocket Lab has a 1-year low of $37.57 and a 1-year high of $151.00.

Rocket Lab (NASDAQ:RKLB) last issued its quarterly earnings results on Monday, August 10th. The rocket manufacturer reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.02). The company had revenue of $234.07 million for the quarter, compared to analyst estimates of $231.62 million. Rocket Lab had a negative return on equity of 6.48% and a negative net margin of 21.51%. On average, equities analysts predict that Rocket Lab will post -0.20 EPS for the current year.

Insider Buying and Selling

In other news, CAO Agostino Ricupati sold 669 shares of the company’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $69.63, for a total value of $46,582.47. Following the completion of the sale, the chief accounting officer directly owned 26,863 shares of the company’s stock, valued at $1,870,470.69. This represents a 2.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Arjun Kampani sold 6,034 shares of the company’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $66.65, for a total value of $402,166.10. Following the completion of the sale, the senior vice president directly owned 250,917 shares of the company’s stock, valued at approximately $16,723,618.05. This trade represents a 2.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 400,749 shares of company stock worth $26,964,474 over the last quarter. Insiders own 8.40% of the company’s stock.

Institutional Trading of Rocket Lab

A number of large investors have recently bought and sold shares of the business. Versant Capital Management Inc increased its stake in Rocket Lab by 5.1% during the 2nd quarter. Versant Capital Management Inc now owns 2,049 shares of the rocket manufacturer’s stock worth $208,000 after purchasing an additional 100 shares in the last quarter. Bartlett & CO. Wealth Management LLC increased its stake in Rocket Lab by 7.1% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 1,869 shares of the rocket manufacturer’s stock worth $120,000 after purchasing an additional 124 shares in the last quarter. Sovereign Financial Group Inc. increased its stake in Rocket Lab by 3.9% during the 1st quarter. Sovereign Financial Group Inc. now owns 3,320 shares of the rocket manufacturer’s stock worth $213,000 after purchasing an additional 125 shares in the last quarter. Parvin Asset Management LLC increased its stake in Rocket Lab by 4.0% during the 1st quarter. Parvin Asset Management LLC now owns 3,665 shares of the rocket manufacturer’s stock worth $235,000 after purchasing an additional 140 shares in the last quarter. Finally, Wedmont Private Capital increased its stake in Rocket Lab by 3.5% during the 3rd quarter. Wedmont Private Capital now owns 4,644 shares of the rocket manufacturer’s stock worth $318,000 after purchasing an additional 157 shares in the last quarter. 71.78% of the stock is owned by institutional investors.

More Rocket Lab News

Here are the key news stories impacting Rocket Lab this week:

• Positive Sentiment: Rocket Lab continues to show strong operating momentum. Second-quarter revenue rose 62% year over year to a record $234 million, while the company maintains a reported backlog of approximately $2.4 billion spanning launch services, satellites and defense contracts. Rocket Lab Still Has a $2.4B Backlog While Neutron Waits
• Positive Sentiment: Some analysts remain constructive despite the setback. TD Cowen reaffirmed a Buy rating with a $90 price target, while Roth Capital maintained a Buy rating and argued that prioritizing reliability over speed could benefit the program long term. Stay Cool, Says Analyst About Rocket Lab Stock
• Neutral Sentiment: Rocket Lab’s established Electron, HASTE and space-systems businesses continue operating, and the company is pursuing additional hypersonic and defense missions. However, these businesses do not fully offset the importance investors place on Neutron’s expansion potential.
• Negative Sentiment: The delay followed a manufacturing flaw in a carbon-composite propellant-tank dome on Neutron’s first stage. The component requires additional repairs and testing after a tank rupture during testing in January, increasing concerns about execution risk, development costs and the timing of potential Neutron revenue. Rocket Lab pushes Neutron rocket’s debut flight to 2027
• Negative Sentiment: Wall Street reaction added pressure: KeyBanc reduced its price target to $100 and Clear Street moved to $105, reflecting reduced confidence in the near-term outlook. Investors are also weighing Rocket Lab’s cash needs, recent equity issuance for the Iridium acquisition, insider selling and lower projected gross margins.

Rocket Lab Company Profile

Rocket Lab USA, Inc is a space and launch company that provides launch services, spacecraft, satellite components and other space systems for commercial, civil and national-security customers. The company designs and manufactures many of its products in-house, supporting missions from initial spacecraft development through launch and on-orbit operations.

Rocket Lab’s primary launch vehicle is Electron, a small-lift rocket designed to place satellites into low Earth orbit. The company also operates the HASTE suborbital test platform for hypersonic and other advanced aerospace technologies and is developing Neutron, a larger reusable rocket intended to serve commercial and government missions.