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

Rocket Lab USA, Inc. (NASDAQ:RKLB) saw some unusual options trading activity on Tuesday. Traders bought 135,118 call options on the company. This is an increase of approximately 107% compared to the typical volume of 65,188 call options.

Rocket Lab USA Stock Performance

RKLB traded up $6.84 on Tuesday, reaching $30.84. The stock had a trading volume of 37,276,022 shares, compared to its average volume of 17,838,512. The business’s 50-day moving average price is $24.23 and its two-hundred day moving average price is $13.52. 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 12-month low of $3.47 and a 12-month high of $31.64. The company has a market cap of $15.42 billion, a P/E ratio of -83.45 and a beta of 1.98.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on RKLB. Citigroup lifted their price target on Rocket Lab USA from $22.00 to $35.00 and gave the stock a “buy” rating in a research report on Tuesday. TD Cowen raised Rocket Lab USA to a “strong-buy” rating in a report on Thursday, December 19th. Stifel Nicolaus increased their price target on shares of Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. KeyCorp lifted their price objective on shares of Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Finally, Bank of America increased their price objective on shares of Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $20.06.

Insider Activity at Rocket Lab USA

In other Rocket Lab USA news, insider Frank Klein sold 35,968 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $24.15, for a total transaction of $868,627.20. Following the transaction, the insider now owns 1,464,032 shares in the company, valued at approximately $35,356,372.80. This represents a 2.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Alexander R. Slusky sold 50,000 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $23.00, for a total transaction of $1,150,000.00. Following the completion of the transaction, the director now directly owns 534,675 shares of the company’s stock, valued at approximately $12,297,525. This represents a 8.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,114,530 shares of company stock valued at $38,168,400 over the last 90 days. Insiders own 13.70% of the company’s stock.

Hedge Funds Weigh In On Rocket Lab USA

A number of large investors have recently bought and sold shares of the business. Amalgamated Bank grew its stake in Rocket Lab USA by 26.7% in the 2nd quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock valued at $58,000 after acquiring an additional 2,538 shares during the period. DRW Securities LLC acquired a new stake in shares of Rocket Lab USA in the second quarter valued at about $125,000. Xponance Inc. increased its stake in shares of Rocket Lab USA by 29.1% during the second quarter. Xponance Inc. now owns 22,185 shares of the rocket manufacturer’s stock worth $106,000 after purchasing an additional 4,997 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Rocket Lab USA by 21.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 205,190 shares of the rocket manufacturer’s stock worth $985,000 after purchasing an additional 35,849 shares during the last quarter. Finally, Scientech Research LLC lifted its stake in Rocket Lab USA by 135.4% in the 2nd quarter. Scientech Research LLC now owns 182,520 shares of the rocket manufacturer’s stock valued at $876,000 after buying an additional 104,980 shares in the last quarter. Institutional investors and hedge funds own 71.78% of the company’s stock.

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.