Investors Buy Large Volume of Call Options on Rocket Lab USA (NASDAQ:RKLB)

Rocket Lab USA, Inc. (NASDAQ:RKLB) was the recipient of some unusual options trading on Monday. Stock traders bought 20,727 call options on the company. This represents an increase of approximately 13% compared to the typical daily volume of 18,281 call options.

Rocket Lab USA Price Performance

Shares of NASDAQ RKLB opened at $6.12 on Wednesday. The stock has a fifty day simple moving average of $5.35 and a two-hundred day simple moving average of $4.61. Rocket Lab USA has a 1-year low of $3.47 and a 1-year high of $7.36. The firm has a market cap of $3.04 billion, a price-to-earnings ratio of -16.54 and a beta of 1.25. The company has a current ratio of 2.82, a quick ratio of 2.43 and a debt-to-equity ratio of 0.90.

Rocket Lab USA (NASDAQ:RKLB) last announced its quarterly earnings data 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. Rocket Lab USA had a negative return on equity of 34.12% and a negative net margin of 54.17%. The business had revenue of $106.25 million during the quarter, compared to analyst estimates of $105.47 million. During the same period in the prior year, the company earned ($0.10) earnings per share. Rocket Lab USA’s revenue was up 71.2% compared to the same quarter last year. Analysts anticipate that Rocket Lab USA will post -0.41 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on RKLB. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $6.00 price target on shares of Rocket Lab USA in a research note on Monday, July 22nd. Citigroup upped their price target on 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 began coverage on Rocket Lab USA in a research note on Wednesday, June 26th. They set a “neutral” rating on the stock. Morgan Stanley downgraded Rocket Lab USA from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $8.00 to $6.00 in a research note on Monday, July 15th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $7.00 price target on shares of Rocket Lab USA in a research note on Tuesday, June 18th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Rocket Lab USA currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.75.

Insider Buying and Selling at Rocket Lab USA

In other Rocket Lab USA news, Director Michael D. Griffin sold 39,446 shares of the company’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $6.90, for a total value of $272,177.40. Following the sale, the director now owns 42,353 shares in the company, valued at approximately $292,235.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, General Counsel Arjun Kampani sold 28,563 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 transaction of $198,798.48. Following the sale, the general counsel now owns 637,558 shares in the company, valued at approximately $4,437,403.68. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Michael D. Griffin sold 39,446 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $6.90, for a total value of $272,177.40. Following the sale, the director now owns 42,353 shares in the company, valued at approximately $292,235.70. The disclosure for this sale can be found here. In the last quarter, insiders have sold 130,521 shares of company stock worth $906,059. Insiders own 13.70% of the company’s stock.

Hedge Funds Weigh In On Rocket Lab USA

A number of large investors have recently made changes to their positions in RKLB. Raymond James & Associates boosted its holdings in shares of Rocket Lab USA by 10.3% in the fourth quarter. Raymond James & Associates now owns 21,825 shares of the rocket manufacturer’s stock worth $121,000 after acquiring an additional 2,040 shares during the period. International Assets Investment Management LLC raised its position in shares of Rocket Lab USA by 453.0% in the fourth quarter. International Assets Investment Management LLC now owns 52,480 shares of the rocket manufacturer’s stock worth $290,000 after buying an additional 42,990 shares in the last quarter. Cerity Partners LLC raised its position in shares of Rocket Lab USA by 14.5% in the fourth quarter. Cerity Partners LLC now owns 17,630 shares of the rocket manufacturer’s stock worth $97,000 after buying an additional 2,230 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Rocket Lab USA by 13.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 56,933 shares of the rocket manufacturer’s stock worth $315,000 after buying an additional 6,759 shares in the last quarter. Finally, Handelsbanken Fonder AB raised its position in shares of Rocket Lab USA by 61.9% in the fourth quarter. Handelsbanken Fonder AB now owns 48,400 shares of the rocket manufacturer’s stock worth $268,000 after buying an additional 18,500 shares in the last quarter. 71.78% of the stock is owned by 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.