Stock Traders Purchase High 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 bought 18,374 call options on the company. This represents an increase of approximately 89% compared to the typical volume of 9,725 call options.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group assumed coverage on Rocket Lab USA in a report on Tuesday, June 11th. They issued a “neutral” rating and a $4.50 target price for the company. Citigroup decreased their target price on Rocket Lab USA from $6.00 to $5.45 and set a “buy” rating for the company in a research report on Tuesday, May 7th. Roth Mkm reiterated a “buy” rating and set a $7.00 target price on shares of Rocket Lab USA in a research note on Tuesday. Wells Fargo & Company reduced their price target on shares of Rocket Lab USA from $5.00 to $4.25 and set an “equal weight” rating for the company in a research report on Thursday, April 4th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $6.00 price objective on shares of Rocket Lab USA in a research report on Tuesday, May 28th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $6.65.

Rocket Lab USA Trading Up 13.1 %

Shares of NASDAQ:RKLB opened at $4.91 on Wednesday. The company has a current ratio of 3.12, a quick ratio of 2.69 and a debt-to-equity ratio of 0.86. The company has a 50-day moving average price of $4.12 and a two-hundred day moving average price of $4.46. Rocket Lab USA has a twelve month low of $3.47 and a twelve month high of $8.05.

Rocket Lab USA (NASDAQ:RKLB) last announced its quarterly earnings results on Monday, May 6th. The rocket manufacturer reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.02. Rocket Lab USA had a negative net margin of 64.15% and a negative return on equity of 32.50%. The company had revenue of $92.80 million for the quarter, compared to analysts’ expectations of $94.98 million. During the same period in the prior year, the company posted ($0.10) EPS. Rocket Lab USA’s revenue was up 69.0% compared to the same quarter last year. On average, equities analysts predict that Rocket Lab USA will post -0.41 EPS for the current year.

Insider Buying and Selling at Rocket Lab USA

In related news, CFO Adam C. Spice sold 63,529 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $4.22, for a total value of $268,092.38. Following the sale, the chief financial officer now owns 1,383,677 shares in the company, valued at approximately $5,839,116.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Adam C. Spice sold 63,529 shares of Rocket Lab USA stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $4.22, for a total transaction of $268,092.38. Following the transaction, the chief financial officer now owns 1,383,677 shares of the company’s stock, valued at $5,839,116.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Arjun Kampani sold 29,026 shares of the company’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $4.22, for a total value of $122,489.72. Following the sale, the general counsel now owns 666,121 shares of the company’s stock, valued at approximately $2,811,030.62. The disclosure for this sale can be found here. 13.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Rocket Lab USA

Several hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Rocket Lab USA by 9.2% during the 1st quarter. Vanguard Group Inc. now owns 29,000,578 shares of the rocket manufacturer’s stock worth $119,192,000 after purchasing an additional 2,448,789 shares in the last quarter. Tocqueville Asset Management L.P. lifted its holdings in shares of Rocket Lab USA by 217.1% in the first quarter. Tocqueville Asset Management L.P. now owns 1,284,060 shares of the rocket manufacturer’s stock worth $5,277,000 after buying an additional 879,160 shares in the last quarter. Qube Research & Technologies Ltd bought a new position in shares of Rocket Lab USA in the third quarter valued at approximately $2,271,000. American Century Companies Inc. grew its stake in Rocket Lab USA by 12.0% during the third quarter. American Century Companies Inc. now owns 3,701,611 shares of the rocket manufacturer’s stock valued at $16,213,000 after acquiring an additional 396,501 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Rocket Lab USA by 15.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,057,607 shares of the rocket manufacturer’s stock worth $9,012,000 after acquiring an additional 269,388 shares during the period. 71.78% of the stock is currently owned by hedge funds and other institutional investors.

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.