Stock Traders Buy High Volume of Call Options on Rocket Lab USA (NASDAQ:RKLB)

Rocket Lab USA, Inc. (NASDAQ:RKLB) saw some unusual options trading on Wednesday. Traders bought 36,610 call options on the company. This represents an increase of approximately 19% compared to the typical volume of 30,814 call options.

Rocket Lab USA Trading Down 4.6 %

Shares of Rocket Lab USA stock opened at $10.68 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.82 and a quick ratio of 2.43. Rocket Lab USA has a 1 year low of $3.47 and a 1 year high of $11.19. The company has a market capitalization of $5.30 billion, a P/E ratio of -30.51 and a beta of 1.32. The business has a 50 day moving average price of $7.58 and a 200 day moving average price of $5.54.

Rocket Lab USA (NASDAQ:RKLB) last issued its quarterly earnings results on Thursday, August 8th. The rocket manufacturer reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.02. The company had revenue of $106.25 million during the quarter, compared to the consensus estimate of $105.47 million. Rocket Lab USA had a negative return on equity of 34.12% and a negative net margin of 54.17%. Rocket Lab USA’s revenue was up 71.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.10) EPS. Sell-side analysts anticipate that Rocket Lab USA will post -0.39 EPS for the current fiscal year.

Insider Activity at Rocket Lab USA

In other Rocket Lab USA news, CFO Adam C. Spice sold 62,512 shares of the company’s stock in a transaction dated Thursday, August 22nd. The stock was 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 owns 1,321,165 shares in the company, valued at $9,195,308.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, General Counsel Arjun Kampani sold 28,563 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total value of $198,798.48. Following the completion of the sale, the general counsel now directly owns 637,558 shares of the company’s stock, valued at $4,437,403.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Adam C. Spice sold 62,512 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total value of $435,083.52. Following the sale, the chief financial officer now directly owns 1,321,165 shares of the company’s stock, valued at $9,195,308.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 130,521 shares of company stock worth $906,059. 13.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Rocket Lab USA

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RKLB. Tamar Securities LLC acquired a new stake in shares of Rocket Lab USA in the 3rd quarter valued at about $108,000. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its stake in shares of Rocket Lab USA by 48.1% in the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 29,358 shares of the rocket manufacturer’s stock valued at $286,000 after purchasing an additional 9,539 shares during the period. Creative Planning increased its stake in shares of Rocket Lab USA by 39.1% in the third quarter. Creative Planning now owns 83,547 shares of the rocket manufacturer’s stock valued at $813,000 after purchasing an additional 23,504 shares during the period. Smith Anglin Financial LLC bought a new position in shares of Rocket Lab USA in the third quarter valued at approximately $104,000. Finally, Lakeridge Wealth Management LLC boosted its holdings in shares of Rocket Lab USA by 30.0% in the third quarter. Lakeridge Wealth Management LLC now owns 13,000 shares of the rocket manufacturer’s stock valued at $126,000 after acquiring an additional 3,000 shares in the last quarter. 71.78% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. JMP Securities assumed coverage on Rocket Lab USA in a report on Thursday, September 12th. They issued a “market perform” rating on the stock. BTIG Research began coverage on Rocket Lab USA in a research report on Wednesday, June 26th. They set a “neutral” rating for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $7.00 price objective on shares of Rocket Lab USA in a report on Monday, September 30th. The Goldman Sachs Group boosted their price objective on Rocket Lab USA from $4.50 to $5.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Finally, Citigroup upped their price target on Rocket Lab USA from $5.45 to $7.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Rocket Lab USA presently has an average rating of “Hold” and a consensus price target of $6.75.

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.