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

Rocket Lab USA, Inc. (NASDAQ:RKLB) saw unusually large options trading on Tuesday. Stock investors bought 127,471 call options on the company. This is an increase of approximately 162% compared to the average daily volume of 48,615 call options.

Rocket Lab USA Stock Performance

NASDAQ RKLB opened at $24.06 on Tuesday. The stock has a market capitalization of $12.03 billion, a price-to-earnings ratio of -65.03 and a beta of 1.29. The stock has a 50-day moving average of $12.16 and a 200 day moving average of $7.66. 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 twelve month low of $3.47 and a twelve month high of $25.58.

Insiders Place Their Bets

In other Rocket Lab USA news, Director Matthew Ocko sold 2,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $17.73, for a total transaction of $35,460,000.00. Following the completion of the transaction, the director now directly owns 2,351,135 shares of the company’s stock, valued at approximately $41,685,623.55. This trade represents a 45.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 13.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Allworth Financial LP increased its stake in shares of Rocket Lab USA by 1,827.6% during the third quarter. Allworth Financial LP now owns 9,484 shares of the rocket manufacturer’s stock worth $92,000 after purchasing an additional 8,992 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in Rocket Lab USA during the 2nd quarter worth approximately $46,000. Baxter Bros Inc. acquired a new position in shares of Rocket Lab USA during the second quarter valued at approximately $48,000. Smith Anglin Financial LLC purchased a new position in shares of Rocket Lab USA in the third quarter valued at approximately $104,000. Finally, Advisors Asset Management Inc. lifted its position in shares of Rocket Lab USA by 59.4% in the first quarter. Advisors Asset Management Inc. now owns 10,816 shares of the rocket manufacturer’s stock valued at $44,000 after acquiring an additional 4,032 shares in the last quarter. 71.78% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

RKLB has been the topic of a number of research reports. JMP Securities began coverage on shares of Rocket Lab USA in a research note on Thursday, September 12th. They issued a “market perform” rating on the stock. Citigroup lifted their price objective on Rocket Lab USA from $13.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Cantor Fitzgerald upped their target price on Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Stifel Nicolaus raised their target price on Rocket Lab USA from $15.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, The Goldman Sachs Group boosted their price target on Rocket Lab USA from $5.00 to $12.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.50.

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.