Rocket Lab USA Sees Unusually High Options Volume (NASDAQ:RKLB)

Rocket Lab USA, Inc. (NASDAQ:RKLB) was the target of unusually large options trading on Friday. Traders purchased 35,562 call options on the company. This is an increase of 61% compared to the typical volume of 22,048 call options.

Insider Buying and Selling

In other news, General Counsel Arjun Kampani sold 28,563 shares of the business’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 $198,798.48. Following the sale, the general counsel now owns 637,558 shares of the company’s stock, valued at $4,437,403.68. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Rocket Lab USA news, CFO Adam C. Spice sold 62,512 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total transaction 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 Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Arjun Kampani sold 28,563 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total transaction 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. 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. 13.70% of the stock is owned by corporate insiders.

Institutional Trading of Rocket Lab USA

Several institutional investors have recently added to or reduced their stakes in RKLB. Wellington Shields & Co. LLC increased its position in shares of Rocket Lab USA by 3.8% during the 2nd quarter. Wellington Shields & Co. LLC now owns 69,142 shares of the rocket manufacturer’s stock valued at $332,000 after purchasing an additional 2,503 shares during the last quarter. Amalgamated Bank increased its stake 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 acquiring an additional 2,538 shares during the last quarter. 180 Wealth Advisors LLC raised its holdings in Rocket Lab USA by 7.5% during the 2nd quarter. 180 Wealth Advisors LLC now owns 40,180 shares of the rocket manufacturer’s stock valued at $214,000 after buying an additional 2,807 shares during the period. Verus Capital Partners LLC lifted its holdings in shares of Rocket Lab USA by 11.9% in the 2nd quarter. Verus Capital Partners LLC now owns 33,160 shares of the rocket manufacturer’s stock worth $159,000 after acquiring an additional 3,525 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its position in shares of Rocket Lab USA by 59.4% during the first quarter. Advisors Asset Management Inc. now owns 10,816 shares of the rocket manufacturer’s stock valued at $44,000 after buying an additional 4,032 shares during the period. 71.78% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on RKLB shares. Roth Mkm restated a “buy” rating and issued a $7.00 price target on shares of Rocket Lab USA in a research note on Tuesday, June 18th. Citigroup lifted 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 note on Wednesday, August 14th. BTIG Research initiated coverage on Rocket Lab USA in a research note on Wednesday, June 26th. They issued a “neutral” rating on the stock. The Goldman Sachs Group initiated coverage on shares of Rocket Lab USA in a research report on Tuesday, June 11th. They set a “neutral” rating and a $4.50 price objective on the stock. Finally, JMP Securities started coverage on shares of Rocket Lab USA in a report on Thursday, September 12th. They set a “market perform” rating on the stock. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Rocket Lab USA currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.86.

Rocket Lab USA Trading Up 4.2 %

NASDAQ:RKLB opened at $7.47 on Friday. 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 fifty day moving average of $5.96 and a 200 day moving average of $4.85. The firm has a market capitalization of $3.68 billion, a P/E ratio of -20.19 and a beta of 1.27. Rocket Lab USA has a 52 week low of $3.47 and a 52 week high of $7.72.

Rocket Lab USA (NASDAQ:RKLB) last posted its earnings results on Thursday, August 8th. The rocket manufacturer reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.02. Rocket Lab USA had a negative return on equity of 34.12% and a negative net margin of 54.17%. The firm had revenue of $106.25 million for the quarter, compared to the consensus estimate of $105.47 million. During the same quarter in the prior year, the business earned ($0.10) EPS. The business’s revenue for the quarter was up 71.2% on a year-over-year basis. On average, research analysts predict that Rocket Lab USA will post -0.4 earnings per share for the current year.

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.