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

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

Insider Buying and Selling

In related news, CFO Adam C. Spice sold 62,512 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total transaction of $435,083.52. Following the completion of the sale, the chief financial officer now owns 1,321,165 shares in the company, valued at approximately $9,195,308.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, General Counsel Arjun Kampani sold 28,563 shares of Rocket Lab USA stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total value of $198,798.48. Following the completion of the transaction, the general counsel now owns 637,558 shares in the company, valued at $4,437,403.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Adam C. Spice sold 62,512 shares of Rocket Lab USA stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total transaction of $435,083.52. Following the completion of the transaction, the chief financial officer now owns 1,321,165 shares of the company’s stock, valued at $9,195,308.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 130,521 shares of company stock worth $906,059. Insiders own 13.70% of the company’s stock.

Institutional Investors Weigh In On Rocket Lab USA

A number of hedge funds have recently made changes to their positions in the business. Advisors Asset Management Inc. lifted its holdings in shares of 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 acquiring an additional 4,032 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of Rocket Lab USA in the 2nd quarter worth approximately $46,000. Baxter Bros Inc. bought a new stake in shares of Rocket Lab USA in the 2nd quarter worth approximately $48,000. Amalgamated Bank lifted its holdings in shares of 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 bought a new stake in shares of Rocket Lab USA in the 2nd quarter worth approximately $67,000. 71.78% of the stock is currently owned by institutional investors.

Rocket Lab USA Trading Up 12.6 %

Shares of Rocket Lab USA stock opened at $11.19 on Thursday. Rocket Lab USA has a 1 year low of $3.47 and a 1 year high of $11.19. The firm has a market cap of $5.56 billion, a PE ratio of -31.97 and a beta of 1.32. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.82 and a quick ratio of 2.43. The company has a 50 day simple moving average of $7.46 and a two-hundred day simple moving average of $5.51.

Rocket Lab USA (NASDAQ:RKLB) last announced its earnings results on Thursday, August 8th. The rocket manufacturer reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.02. Rocket Lab USA had a negative net margin of 54.17% and a negative return on equity of 34.12%. The business had revenue of $106.25 million during the quarter, compared to analyst estimates of $105.47 million. During the same period in the previous year, the business posted ($0.10) earnings per share. Rocket Lab USA’s revenue for the quarter was up 71.2% on a year-over-year basis. Analysts expect that Rocket Lab USA will post -0.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Morgan Stanley downgraded shares of Rocket Lab USA from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $8.00 to $6.00 in a research note on Monday, July 15th. JMP Securities assumed coverage on shares of Rocket Lab USA in a research note on Thursday, September 12th. They issued a “market perform” rating for the company. Citigroup lifted their target price on shares of Rocket Lab USA from $5.45 to $7.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $7.00 price objective on shares of Rocket Lab USA in a research note on Monday, September 30th. Finally, BTIG Research began coverage on shares of Rocket Lab USA in a research note on Wednesday, June 26th. They set a “neutral” rating for the company. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Rocket Lab USA currently has a consensus rating of “Hold” and a consensus price target of $6.75.

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.