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

Rocket Lab USA, Inc. (NASDAQ:RKLB) saw some unusual options trading on Monday. Investors purchased 108,307 call options on the company. This is an increase of 52% compared to the typical daily volume of 71,096 call options.

Wall Street Analysts Forecast Growth

RKLB has been the topic of several recent research reports. Citigroup increased their price target on Rocket Lab USA from $22.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Cantor Fitzgerald increased their target price on Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. KeyCorp lifted their price target on shares of Rocket Lab USA from $27.00 to $32.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Bank of America upped their price objective on shares of Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, The Goldman Sachs Group lifted their price objective on shares of Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a report on Thursday, January 16th. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.28.

Insider Activity

In other Rocket Lab USA news, Director Nina Armagno sold 10,000 shares of Rocket Lab USA stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $23.63, for a total value of $236,300.00. Following the completion of the sale, the director now directly owns 132,294 shares of the company’s stock, valued at approximately $3,126,107.22. The trade was a 7.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Matthew Ocko sold 2,000,000 shares of the stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $17.73, for a total transaction of $35,460,000.00. Following the transaction, the director now directly 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 have sold 2,124,530 shares of company stock valued at $38,404,700 in the last ninety days. 13.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Rocket Lab USA

Several institutional investors and hedge funds have recently added to or reduced their stakes in RKLB. The Manufacturers Life Insurance Company increased its position in shares of Rocket Lab USA by 21.2% during 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 during the last quarter. Creative Planning grew its position in Rocket Lab USA by 63.3% during the second quarter. Creative Planning now owns 60,043 shares of the rocket manufacturer’s stock valued at $288,000 after buying an additional 23,264 shares during the period. Sanctuary Advisors LLC purchased a new stake in Rocket Lab USA during the second quarter worth about $76,000. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its position in Rocket Lab USA by 48.1% in the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 29,358 shares of the rocket manufacturer’s stock worth $286,000 after acquiring an additional 9,539 shares during the period. Finally, Tamar Securities LLC purchased a new position in Rocket Lab USA in the third quarter valued at about $108,000. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Rocket Lab USA Stock Down 7.8 %

RKLB opened at $28.22 on Wednesday. Rocket Lab USA has a fifty-two week low of $3.47 and a fifty-two week high of $33.34. The firm has a market capitalization of $14.11 billion, a P/E ratio of -76.27 and a beta of 1.99. The company’s 50-day moving average is $26.46 and its 200 day moving average is $16.05. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16.

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.