Rocket Lab USA Target of Unusually Large Options Trading (NASDAQ:RKLB)

Rocket Lab USA, Inc. (NASDAQ:RKLB) saw unusually large options trading on Monday. Stock traders bought 60,938 call options on the stock. This is an increase of approximately 72% compared to the average volume of 35,458 call options.

Analyst Ratings Changes

A number of research firms have commented on RKLB. KeyCorp upped their target price on Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Citigroup upped their target price on Rocket Lab USA from $7.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. The Goldman Sachs Group upped their price objective on Rocket Lab USA from $4.50 to $5.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $7.00 target price on shares of Rocket Lab USA in a report on Monday, September 30th. Finally, JMP Securities initiated coverage on Rocket Lab USA in a research note on Thursday, September 12th. They set a “market perform” rating for the company. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $7.75.

Rocket Lab USA Price Performance

RKLB stock opened at $14.66 on Wednesday. The stock has a 50-day simple moving average of $9.47 and a 200-day simple moving average of $6.53. The firm has a market cap of $7.28 billion, a P/E ratio of -42.23 and a beta of 1.29. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.43 and a current ratio of 2.82. Rocket Lab USA has a 1 year low of $3.47 and a 1 year high of $15.24.

Insiders Place Their Bets

In other news, CFO Adam C. Spice sold 62,512 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 value of $435,083.52. Following the completion of the sale, the chief financial officer now directly owns 1,321,165 shares of the company’s stock, valued at approximately $9,195,308.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Rocket Lab USA news, CFO Adam C. Spice sold 62,512 shares of Rocket Lab USA stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total value of $435,083.52. Following the transaction, the chief financial officer now directly owns 1,321,165 shares in the company, valued at approximately $9,195,308.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael D. Griffin sold 39,446 shares of the stock in a transaction on 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 directly owns 42,353 shares of the company’s stock, valued at approximately $292,235.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 130,521 shares of company stock valued at $906,059 over the last quarter. Company insiders own 13.70% of the company’s stock.

Institutional Trading of Rocket Lab USA

A number of hedge funds have recently made changes to their positions in RKLB. Vanguard Group Inc. increased its stake 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 buying an additional 2,448,789 shares during the period. Ieq Capital LLC acquired a new stake in shares of Rocket Lab USA during the second quarter valued at about $5,469,000. Mizuho Markets Americas LLC purchased a new stake in shares of Rocket Lab USA during the third quarter worth about $8,930,000. Tocqueville Asset Management L.P. lifted its stake 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 acquiring an additional 879,160 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Rocket Lab USA by 22.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer’s stock valued at $28,006,000 after purchasing an additional 532,207 shares during the last quarter. Hedge funds and other institutional investors own 71.78% of the company’s stock.

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.