Traders Purchase Large Volume of Rocket Lab USA Call Options (NASDAQ:RKLB)

Rocket Lab USA, Inc. (NASDAQ:RKLB) was the target of some unusual options trading activity on Tuesday. Investors purchased 127,471 call options on the company. This is an increase of 162% compared to the average volume of 48,615 call options.

Analyst Ratings Changes

A number of analysts have weighed in on RKLB shares. Wells Fargo & Company raised their target price on shares of Rocket Lab USA from $5.25 to $13.50 and gave the company an “equal weight” rating in a research report on Wednesday, November 13th. KeyCorp raised their price objective on Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Stifel Nicolaus upped their target price on Rocket Lab USA from $15.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Bank of America increased their target price on Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Finally, Cantor Fitzgerald boosted their price target on Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $16.50.

Rocket Lab USA Price Performance

Rocket Lab USA stock opened at $25.44 on Wednesday. The stock’s 50 day moving average is $12.52 and its 200 day moving average is $7.81. Rocket Lab USA has a one year low of $3.47 and a one year high of $26.71. The firm has a market cap of $12.72 billion, a P/E ratio of -68.75 and a beta of 1.29. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16.

Insider Activity at Rocket Lab USA

In other news, Director Matthew Ocko sold 2,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were 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 in the company, valued at approximately $41,685,623.55. This trade represents a 45.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 13.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Advisors Asset Management Inc. increased 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 worth $44,000 after buying an additional 4,032 shares during the period. International Assets Investment Management LLC bought a new stake in Rocket Lab USA during the second quarter valued at $46,000. Baxter Bros Inc. acquired a new stake in Rocket Lab USA during the 2nd quarter worth about $48,000. Amalgamated Bank raised its position in shares of 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 in the last quarter. Finally, CIBC Asset Management Inc acquired a new position in shares of Rocket Lab USA in the 2nd quarter valued at about $67,000. Institutional investors and hedge funds own 71.78% of the company’s stock.

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.