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

Rocket Lab USA, Inc. (NASDAQ:RKLB) was the target of unusually large options trading on Tuesday. Stock investors purchased 127,471 call options on the company. This is an increase of approximately 162% compared to the average daily volume of 48,615 call options.

Analyst Ratings Changes

A number of research firms have commented on RKLB. The Goldman Sachs Group upped their price target on Rocket Lab USA from $5.00 to $12.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Citigroup upped their target price on Rocket Lab USA from $13.00 to $22.00 and gave the company a “buy” rating in a research report on Monday, November 18th. Wells Fargo & Company upped their target price on 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. Bank of America upped 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, JMP Securities assumed coverage on Rocket Lab USA in a research report on Thursday, September 12th. They set a “market perform” rating on the stock. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $16.50.

Insiders Place Their Bets

In other Rocket Lab USA news, General Counsel Arjun Kampani sold 28,562 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $24.15, for a total value of $689,772.30. Following the sale, the general counsel now owns 608,996 shares in the company, valued at approximately $14,707,253.40. The trade was a 4.48 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Matthew Ocko sold 2,000,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the director now owns 2,351,135 shares in the company, valued at $41,685,623.55. This trade represents a 45.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,064,530 shares of company stock valued at $37,018,400 in the last 90 days. Corporate insiders own 13.70% of the company’s stock.

Institutional Trading of Rocket Lab USA

A number of institutional investors and hedge funds have recently modified their holdings of the business. Franklin Resources Inc. purchased a new stake in shares of Rocket Lab USA during the third quarter valued at approximately $107,000. Sanctuary Advisors LLC increased its position in Rocket Lab USA by 34.0% in the third quarter. Sanctuary Advisors LLC now owns 21,226 shares of the rocket manufacturer’s stock worth $207,000 after buying an additional 5,381 shares during the last quarter. Arete Wealth Advisors LLC bought a new stake in shares of Rocket Lab USA in the third quarter valued at $106,000. Geode Capital Management LLC raised its stake in shares of Rocket Lab USA by 12.2% in the third quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock valued at $80,317,000 after buying an additional 898,223 shares during the period. Finally, Nomura Asset Management Co. Ltd. grew its stake in shares of Rocket Lab USA by 22.4% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 227,438 shares of the rocket manufacturer’s stock worth $2,213,000 after acquiring an additional 41,551 shares during the period. 71.78% of the stock is owned by hedge funds and other institutional investors.

Rocket Lab USA Stock Performance

Shares of Rocket Lab USA stock opened at $25.67 on Thursday. The company has a market cap of $12.83 billion, a PE ratio of -69.38 and a beta of 1.29. Rocket Lab USA has a 52 week low of $3.47 and a 52 week high of $27.20. The business has a 50 day moving average price of $12.89 and a 200-day moving average price of $7.93. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97.

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.