Rocket Lab USA Target of Unusually High Options Trading (NASDAQ:RKLB)

Rocket Lab USA, Inc. (NASDAQ:RKLB) saw unusually large options trading on Tuesday. Traders purchased 135,118 call options on the stock. This represents an increase of 107% compared to the typical daily volume of 65,188 call options.

Insider Buying and Selling

In other news, General Counsel Arjun Kampani sold 28,562 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $24.15, for a total value of $689,772.30. Following the completion of the sale, the general counsel now owns 608,996 shares of the company’s stock, valued at $14,707,253.40. This represents a 4.48 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Matthew Ocko sold 2,000,000 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $17.73, for a total value of $35,460,000.00. Following the sale, the director now directly owns 2,351,135 shares of the company’s stock, valued at approximately $41,685,623.55. This trade represents a 45.97 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,114,530 shares of company stock worth $38,168,400. Insiders own 13.70% of the company’s stock.

Institutional Investors Weigh In On Rocket Lab USA

Several institutional investors and hedge funds have recently made changes to their positions in RKLB. Amalgamated Bank grew its stake in Rocket Lab USA by 26.7% in the 2nd 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 period. DRW Securities LLC acquired a new position in Rocket Lab USA during the 2nd quarter worth approximately $125,000. Xponance Inc. lifted its holdings in Rocket Lab USA by 29.1% in the 2nd quarter. Xponance Inc. now owns 22,185 shares of the rocket manufacturer’s stock worth $106,000 after buying an additional 4,997 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Rocket Lab USA by 21.2% in the second quarter. The Manufacturers Life Insurance Company now owns 205,190 shares of the rocket manufacturer’s stock valued at $985,000 after purchasing an additional 35,849 shares during the last quarter. Finally, Scientech Research LLC boosted its stake in shares of Rocket Lab USA by 135.4% during the 2nd quarter. Scientech Research LLC now owns 182,520 shares of the rocket manufacturer’s stock valued at $876,000 after buying an additional 104,980 shares during the last quarter. 71.78% of the stock is currently owned by hedge funds and other institutional investors.

Rocket Lab USA Stock Performance

NASDAQ RKLB opened at $29.62 on Thursday. Rocket Lab USA has a 1-year low of $3.47 and a 1-year high of $31.64. The company has a market capitalization of $14.81 billion, a P/E ratio of -80.05 and a beta of 1.98. The business has a 50 day moving average price of $24.56 and a 200 day moving average price of $13.71. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16.

Wall Street Analyst Weigh In

RKLB has been the topic of a number of research analyst reports. Stifel Nicolaus boosted their price target on shares of Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Citigroup raised their target price on shares of Rocket Lab USA from $22.00 to $35.00 and gave the company a “buy” rating in a report on Tuesday. The Goldman Sachs Group upped their price target on Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a report on Thursday, January 16th. TD Cowen upgraded Rocket Lab USA to a “strong-buy” rating in a research note on Thursday, December 19th. Finally, KeyCorp boosted their target price on Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $20.06.

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.