Rocket Lab USA Sees Unusually Large Options Volume (NASDAQ:RKLB)

Rocket Lab USA, Inc. (NASDAQ:RKLB) was the target of some unusual options trading activity on Monday. Stock traders bought 108,307 call options on the stock. This is an increase of 52% compared to the average volume of 71,096 call options.

Insider Buying and Selling at Rocket Lab USA

In other news, Director Matthew Ocko sold 2,000,000 shares of Rocket Lab USA stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $17.73, for a total value of $35,460,000.00. Following the completion of the transaction, the director now directly owns 2,351,135 shares in the company, valued at approximately $41,685,623.55. The trade was a 45.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Alexander R. Slusky sold 50,000 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $23.00, for a total value of $1,150,000.00. Following the sale, the director now owns 534,675 shares in the company, valued at approximately $12,297,525. The trade was a 8.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,124,530 shares of company stock valued at $38,404,700 over the last three months. 13.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company boosted its stake in shares of Rocket Lab USA by 21.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 205,190 shares of the rocket manufacturer’s stock valued at $985,000 after purchasing an additional 35,849 shares in the last quarter. Creative Planning lifted its stake in Rocket Lab USA by 63.3% in the second quarter. Creative Planning now owns 60,043 shares of the rocket manufacturer’s stock worth $288,000 after purchasing an additional 23,264 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in Rocket Lab USA during the second quarter valued at about $76,000. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its position in Rocket Lab USA by 48.1% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 29,358 shares of the rocket manufacturer’s stock valued at $286,000 after buying an additional 9,539 shares during the period. Finally, Tamar Securities LLC bought a new position in shares of Rocket Lab USA during the third quarter valued at about $108,000. 71.78% of the stock is owned by hedge funds and other institutional investors.

Rocket Lab USA Stock Performance

Shares of NASDAQ RKLB opened at $28.22 on Wednesday. The stock’s 50-day moving average is $26.46 and its 200 day moving average is $16.05. The stock has a market cap of $14.11 billion, a price-to-earnings ratio of -76.27 and a beta of 1.99. Rocket Lab USA has a 1-year low of $3.47 and a 1-year high of $33.34. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Cantor Fitzgerald boosted their price objective on shares of Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. TD Cowen upgraded shares of Rocket Lab USA to a “strong-buy” rating in a research report on Thursday, December 19th. Bank of America increased their price objective on Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. The Goldman Sachs Group boosted their target price on Rocket Lab USA from $12.00 to $13.50 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. Finally, Wells Fargo & Company boosted their price objective on Rocket Lab USA from $13.50 to $22.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 11th. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.28.

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.