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

Rocket Lab USA, Inc. (NASDAQ:RKLB) was the target of some unusual options trading activity on Monday. Stock investors bought 60,938 call options on the company. This is an increase of approximately 72% compared to the average volume of 35,458 call options.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. JMP Securities assumed coverage on shares of Rocket Lab USA in a research note on Thursday, September 12th. They set a “market perform” rating on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $7.00 price target on shares of Rocket Lab USA in a research note on Monday, September 30th. The Goldman Sachs Group lifted their price target on shares of Rocket Lab USA from $4.50 to $5.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. KeyCorp lifted their price target on shares of Rocket Lab USA from $11.00 to $12.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Finally, Morgan Stanley lowered shares of Rocket Lab USA from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $8.00 to $6.00 in a report on Monday, July 15th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $7.75.

Insider Activity

In other news, Director Michael D. Griffin sold 39,446 shares of the firm’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 transaction, the director now owns 42,353 shares of the company’s stock, valued at approximately $292,235.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, General Counsel Arjun Kampani sold 28,563 shares of Rocket Lab USA stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total transaction of $198,798.48. Following the sale, the general counsel now owns 637,558 shares of the company’s stock, valued at $4,437,403.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Michael D. Griffin sold 39,446 shares of Rocket Lab USA stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $6.90, for a total transaction of $272,177.40. Following the sale, the director now directly owns 42,353 shares in the company, valued at $292,235.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 130,521 shares of company stock valued at $906,059. Company insiders own 13.70% of the company’s stock.

Institutional Trading of Rocket Lab USA

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Allworth Financial LP raised its position in shares of Rocket Lab USA by 1,827.6% during the 3rd quarter. Allworth Financial LP now owns 9,484 shares of the rocket manufacturer’s stock worth $92,000 after buying an additional 8,992 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of Rocket Lab USA during the 2nd quarter worth about $46,000. Baxter Bros Inc. bought a new stake in shares of Rocket Lab USA during the 2nd quarter worth about $48,000. Smith Anglin Financial LLC bought a new stake in shares of Rocket Lab USA during the 3rd quarter worth about $104,000. Finally, Advisors Asset Management Inc. raised its position in shares of Rocket Lab USA by 59.4% during the 1st quarter. Advisors Asset Management Inc. now owns 10,816 shares of the rocket manufacturer’s stock worth $44,000 after buying an additional 4,032 shares in the last quarter. 71.78% of the stock is currently owned by institutional investors.

Rocket Lab USA Trading Up 9.4 %

Rocket Lab USA stock opened at $14.78 on Tuesday. The company has a quick ratio of 2.43, a current ratio of 2.82 and a debt-to-equity ratio of 0.90. The firm has a 50-day moving average price of $9.30 and a two-hundred day moving average price of $6.45. The firm has a market capitalization of $7.34 billion, a price-to-earnings ratio of -42.66 and a beta of 1.29. Rocket Lab USA has a 52-week low of $3.47 and a 52-week high of $15.24.

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.