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

Rocket Lab USA, Inc. (NASDAQ:RKLB) saw unusually large options trading activity on Friday. Traders purchased 35,562 call options on the company. This represents an increase of approximately 61% compared to the average daily volume of 22,048 call options.

Insider Transactions at Rocket Lab USA

In other news, General Counsel Arjun Kampani sold 28,563 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total transaction of $198,798.48. Following the completion of the sale, the general counsel now owns 637,558 shares in the company, valued at $4,437,403.68. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Rocket Lab USA news, Director Michael D. Griffin sold 39,446 shares of Rocket Lab USA stock in a transaction dated 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 sale, the director now owns 42,353 shares in the company, valued at approximately $292,235.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Arjun Kampani sold 28,563 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total transaction of $198,798.48. Following the transaction, the general counsel now owns 637,558 shares in the company, valued at approximately $4,437,403.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 130,521 shares of company stock worth $906,059. 13.70% of the stock is owned by insiders.

Institutional Trading of Rocket Lab USA

A number of institutional investors have recently bought and sold shares of RKLB. Vanguard Group Inc. lifted its stake in shares of Rocket Lab USA by 9.2% in the 1st quarter. Vanguard Group Inc. now owns 29,000,578 shares of the rocket manufacturer’s stock valued at $119,192,000 after purchasing an additional 2,448,789 shares during the period. ARK Investment Management LLC lifted its stake in Rocket Lab USA by 6.6% in the second quarter. ARK Investment Management LLC now owns 6,297,073 shares of the rocket manufacturer’s stock valued at $30,226,000 after buying an additional 391,778 shares during the period. American Century Companies Inc. lifted its stake in Rocket Lab USA by 11.1% in the second quarter. American Century Companies Inc. now owns 2,856,973 shares of the rocket manufacturer’s stock valued at $13,713,000 after buying an additional 284,360 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Rocket Lab USA by 25.6% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,123,591 shares of the rocket manufacturer’s stock worth $10,193,000 after buying an additional 432,501 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Rocket Lab USA by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,081,839 shares of the rocket manufacturer’s stock worth $11,513,000 after buying an additional 24,232 shares during the period. Institutional investors own 71.78% of the company’s stock.

Rocket Lab USA Stock Performance

Shares of RKLB stock opened at $7.47 on Friday. The stock has a market capitalization of $3.68 billion, a PE ratio of -20.19 and a beta of 1.27. The business’s 50 day simple moving average is $5.96 and its 200 day simple moving average is $4.86. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.82 and a quick ratio of 2.43. Rocket Lab USA has a one year low of $3.47 and a one year high of $7.72.

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

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Roth Mkm reissued a “buy” rating and set a $7.00 price target on shares of Rocket Lab USA in a research report on Tuesday, June 18th. Morgan Stanley lowered 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 report on Monday, July 15th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $7.00 price target on shares of Rocket Lab USA in a research note on Monday, September 9th. Citigroup upped their price objective 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. Finally, JMP Securities started coverage on shares of Rocket Lab USA in a report on Thursday, September 12th. They issued a “market perform” rating on the stock. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price 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.