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

Rocket Lab USA, Inc. (NASDAQ:RKLB) saw some unusual options trading activity on Tuesday. Traders purchased 127,471 call options on the stock. This is an increase of approximately 162% compared to the typical daily volume of 48,615 call options.

Insider Activity

In other 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 transaction of $689,772.30. Following the sale, the general counsel now directly owns 608,996 shares in the company, valued at $14,707,253.40. This represents a 4.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Matthew Ocko sold 2,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $17.73, for a total transaction of $35,460,000.00. Following the completion of the transaction, the director now owns 2,351,135 shares of the company’s stock, valued at $41,685,623.55. This trade represents a 45.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,064,530 shares of company stock valued at $37,018,400 over the last quarter. Company insiders own 13.70% of the company’s stock.

Institutional Investors Weigh In On Rocket Lab USA

A number of institutional investors have recently made changes to their positions in the business. Advisors Asset Management Inc. increased its stake in Rocket Lab USA by 59.4% in the 1st quarter. Advisors Asset Management Inc. now owns 10,816 shares of the rocket manufacturer’s stock worth $44,000 after purchasing an additional 4,032 shares during the period. International Assets Investment Management LLC bought a new stake in Rocket Lab USA during the 2nd quarter valued at $46,000. Baxter Bros Inc. purchased a new stake in Rocket Lab USA during the 2nd quarter valued at $48,000. Amalgamated Bank grew its holdings in Rocket Lab USA by 26.7% in the 2nd quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock worth $58,000 after acquiring an additional 2,538 shares during the last quarter. Finally, CIBC Asset Management Inc purchased a new position in shares of Rocket Lab USA in the second quarter valued at about $67,000. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Rocket Lab USA Stock Up 0.9 %

Shares of RKLB opened at $25.67 on Thursday. Rocket Lab USA has a 1 year low of $3.47 and a 1 year high of $27.20. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16. The stock has a 50 day simple moving average of $12.89 and a two-hundred day simple moving average of $7.93. The firm has a market cap of $12.83 billion, a P/E ratio of -69.38 and a beta of 1.29.

Wall Street Analysts Forecast Growth

Several research analysts have commented on RKLB shares. JMP Securities initiated coverage on shares of Rocket Lab USA in a report on Thursday, September 12th. They issued a “market perform” rating for the company. Bank of America boosted their target price 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. Cantor Fitzgerald raised their price target on Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Citigroup boosted their price objective on Rocket Lab USA from $13.00 to $22.00 and gave the stock a “buy” rating in a report on Monday, November 18th. Finally, The Goldman Sachs Group raised their target price on shares of Rocket Lab USA from $5.00 to $12.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $16.50.

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.