Rocket Lab USA Target of Unusually Large Options Trading (NASDAQ:RKLB)

Rocket Lab USA, Inc. (NASDAQ:RKLB) was the target of some unusual options trading activity on Tuesday. Traders purchased 135,118 call options on the stock. This is an increase of 107% compared to the average volume of 65,188 call options.

Rocket Lab USA Stock Up 30.3 %

Shares of NASDAQ RKLB opened at $31.27 on Wednesday. The firm has a market capitalization of $15.63 billion, a PE ratio of -84.51 and a beta of 1.98. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97. Rocket Lab USA has a 1 year low of $3.47 and a 1 year high of $31.64. The firm’s 50-day moving average is $24.23 and its 200-day moving average is $13.52.

Insider Buying and Selling at Rocket Lab USA

In related news, Director Matthew Ocko sold 2,000,000 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $17.73, for a total value of $35,460,000.00. Following the transaction, the director now owns 2,351,135 shares of the company’s stock, valued at $41,685,623.55. This represents a 45.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Frank Klein sold 35,968 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $24.15, for a total transaction of $868,627.20. Following the sale, the insider now owns 1,464,032 shares of the company’s stock, valued at $35,356,372.80. This trade represents a 2.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,114,530 shares of company stock valued at $38,168,400 over the last ninety days. Corporate insiders own 13.70% of the company’s stock.

Hedge Funds Weigh In On Rocket Lab USA

Several institutional investors and hedge funds have recently modified their holdings of RKLB. Mizuho Markets Americas LLC acquired a new stake in shares of Rocket Lab USA during the 3rd quarter worth approximately $8,930,000. Geode Capital Management LLC lifted its stake in Rocket Lab USA by 12.2% during the 3rd quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock valued at $80,317,000 after acquiring an additional 898,223 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Rocket Lab USA by 22.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer’s stock worth $28,006,000 after purchasing an additional 532,207 shares during the period. Quadrature Capital Ltd bought a new stake in Rocket Lab USA in the 3rd quarter valued at about $2,651,000. Finally, Citigroup Inc. raised its stake in Rocket Lab USA by 46.8% in the 3rd quarter. Citigroup Inc. now owns 691,387 shares of the rocket manufacturer’s stock valued at $6,727,000 after acquiring an additional 220,432 shares during the period. 71.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Stifel Nicolaus raised their target price on shares of Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Bank of America lifted their price target on shares of Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, November 14th. TD Cowen upgraded shares of Rocket Lab USA to a “strong-buy” rating in a report on Thursday, December 19th. KeyCorp lifted their target price on shares of Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Finally, Cantor Fitzgerald lifted their target price on shares of Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Rocket Lab USA currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.06.

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.