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

Rocket Lab USA, Inc. (NASDAQ:RKLB) saw some unusual options trading on Friday. Stock traders bought 35,562 call options on the stock. This is an increase of 61% compared to the typical daily volume of 22,048 call options.

Insider Activity at Rocket Lab USA

In other news, CFO Adam C. Spice sold 62,512 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 1,321,165 shares of the company’s stock, valued at $9,195,308.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Rocket Lab USA news, Director Michael D. Griffin sold 39,446 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 42,353 shares in the company, valued at $292,235.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Adam C. Spice sold 62,512 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total transaction of $435,083.52. Following the sale, the chief financial officer now owns 1,321,165 shares in the company, valued at $9,195,308.40. The disclosure for this sale can be found here. Insiders have sold 130,521 shares of company stock valued at $906,059 over the last ninety days. Insiders own 13.70% of the company’s stock.

Institutional Investors Weigh In On Rocket Lab USA

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Rocket Lab USA by 9.2% during the first quarter. Vanguard Group Inc. now owns 29,000,578 shares of the rocket manufacturer’s stock worth $119,192,000 after buying an additional 2,448,789 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Rocket Lab USA by 18.1% in the 1st quarter. Principal Financial Group Inc. now owns 38,074 shares of the rocket manufacturer’s stock valued at $156,000 after buying an additional 5,838 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Rocket Lab USA by 40.9% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 91,619 shares of the rocket manufacturer’s stock valued at $440,000 after purchasing an additional 26,605 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Rocket Lab USA by 2.3% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 294,054 shares of the rocket manufacturer’s stock valued at $1,209,000 after buying an additional 6,534 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Rocket Lab USA by 15.7% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,691,090 shares of the rocket manufacturer’s stock worth $6,950,000 after acquiring an additional 229,512 shares in the last quarter. Institutional investors own 71.78% of the company’s stock.

Rocket Lab USA Price Performance

RKLB stock traded up $0.40 during trading on Friday, hitting $7.57. 9,492,403 shares of the company’s stock traded hands, compared to its average volume of 9,159,071. The business has a fifty day simple moving average of $5.92 and a 200 day simple moving average of $4.83. Rocket Lab USA has a 52 week low of $3.47 and a 52 week high of $7.72. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.43 and a current ratio of 2.82. The stock has a market capitalization of $3.76 billion, a price-to-earnings ratio of -20.41 and a beta of 1.27.

Rocket Lab USA (NASDAQ:RKLB) last posted its quarterly earnings results on Thursday, August 8th. The rocket manufacturer reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $106.25 million for the quarter, compared to analysts’ expectations of $105.47 million. During the same period in the prior year, the business posted ($0.10) earnings per share. The business’s revenue for the quarter was up 71.2% on a year-over-year basis. As a group, research analysts expect that Rocket Lab USA will post -0.4 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. The Goldman Sachs Group started coverage on Rocket Lab USA in a research note on Tuesday, June 11th. They issued a “neutral” rating and a $4.50 price target for the company. JMP Securities assumed coverage on Rocket Lab USA in a research note on Thursday, September 12th. They set a “market perform” rating on the stock. BTIG Research assumed coverage on Rocket Lab USA in a research note on Wednesday, June 26th. They issued a “neutral” rating for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $7.00 price objective on shares of Rocket Lab USA in a report on Monday, September 9th. Finally, Citigroup upped 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 report on Wednesday, August 14th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $6.86.

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.