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

Rocket Lab USA, Inc. (NASDAQ:RKLB) was the recipient of unusually large options trading activity on Wednesday. Investors purchased 36,610 call options on the company. This is an increase of 19% compared to the average volume of 30,814 call options.

Wall Street Analyst Weigh In

RKLB has been the topic of several recent analyst reports. Roth Mkm reiterated a “buy” rating and issued a $7.00 price target on shares of Rocket Lab USA in a report on Tuesday, June 18th. JMP Securities initiated coverage on shares of Rocket Lab USA in a research note on Thursday, September 12th. They issued a “market perform” rating for the company. KeyCorp upped their target price on Rocket Lab USA from $8.00 to $11.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Cantor Fitzgerald restated an “overweight” rating and issued a $7.00 target price on shares of Rocket Lab USA in a research note on Monday, September 30th. Finally, 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. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $6.75.

Insider Transactions at Rocket Lab USA

In related news, CFO Adam C. Spice sold 62,512 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total transaction of $435,083.52. Following the sale, the chief financial officer now 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Rocket Lab USA news, Director Michael D. Griffin sold 39,446 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $6.90, for a total value of $272,177.40. Following the completion of the sale, the director now directly owns 42,353 shares of the company’s stock, valued at $292,235.70. 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 is available at the SEC website. Also, CFO Adam C. Spice sold 62,512 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total value of $435,083.52. Following the sale, the chief financial officer now owns 1,321,165 shares of the company’s stock, valued at $9,195,308.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 130,521 shares of company stock valued at $906,059. 13.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Rocket Lab USA

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its stake in Rocket Lab USA by 48.1% in the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 29,358 shares of the rocket manufacturer’s stock worth $286,000 after purchasing an additional 9,539 shares during the period. Creative Planning boosted its position in shares of Rocket Lab USA by 39.1% during the third quarter. Creative Planning now owns 83,547 shares of the rocket manufacturer’s stock worth $813,000 after acquiring an additional 23,504 shares during the last quarter. Smith Anglin Financial LLC purchased a new position in Rocket Lab USA during the third quarter valued at $104,000. Lakeridge Wealth Management LLC increased its holdings in Rocket Lab USA by 30.0% in the 3rd quarter. Lakeridge Wealth Management LLC now owns 13,000 shares of the rocket manufacturer’s stock valued at $126,000 after acquiring an additional 3,000 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Rocket Lab USA in the 3rd quarter worth $1,190,000. Institutional investors own 71.78% of the company’s stock.

Rocket Lab USA Stock Performance

Shares of RKLB stock traded up $0.63 during mid-day trading on Wednesday, reaching $10.57. 16,319,941 shares of the company’s stock traded hands, compared to its average volume of 9,779,376. Rocket Lab USA has a 12 month low of $3.47 and a 12 month high of $10.97. The firm has a 50 day moving average price of $7.33 and a two-hundred day moving average price of $5.47. The firm has a market capitalization of $5.21 billion, a PE ratio of -28.59 and a beta of 1.32. 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 (NASDAQ:RKLB) last announced its quarterly earnings data on Thursday, August 8th. The rocket manufacturer reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.02. The company had revenue of $106.25 million during the quarter, compared to the consensus estimate of $105.47 million. Rocket Lab USA had a negative return on equity of 34.12% and a negative net margin of 54.17%. The firm’s revenue was up 71.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.10) EPS. On average, research analysts forecast that Rocket Lab USA will post -0.39 EPS for the current year.

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.