Rocket Lab Sees Unusually High Options Volume (NASDAQ:RKLB)

Rocket Lab Corporation (NASDAQ:RKLB - Get Free Report) was the recipient of some unusual options trading on Monday. Investors purchased 115,217 call options on the company. This is an increase of 50% compared to the typical volume of 76,571 call options.

Rocket Lab Stock Up 9.3%

Shares of NASDAQ:RKLB traded up $3.31 during mid-day trading on Monday, hitting $38.97. 33,484,264 shares of the company traded hands, compared to its average volume of 18,165,999. The firm has a market cap of $17.67 billion, a P/E ratio of -97.43 and a beta of 2.15. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.72 and a current ratio of 2.08. Rocket Lab has a 52-week low of $4.20 and a 52-week high of $39.04. The firm's 50 day simple moving average is $27.27 and its 200 day simple moving average is $24.64.

Rocket Lab (NASDAQ:RKLB - Get Free Report) last announced its earnings results on Thursday, May 8th. The rocket manufacturer reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.02). Rocket Lab had a negative net margin of 44.32% and a negative return on equity of 48.92%. The company had revenue of $122.57 million for the quarter, compared to analysts' expectations of $120.74 million. During the same quarter in the previous year, the business posted ($0.09) earnings per share. The business's quarterly revenue was up 32.1% compared to the same quarter last year. On average, equities analysts anticipate that Rocket Lab will post -0.38 EPS for the current year.

Analyst Ratings Changes

RKLB has been the subject of several research analyst reports. Stifel Nicolaus increased their price objective on Rocket Lab from $29.00 to $34.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. KeyCorp increased their price objective on Rocket Lab from $29.00 to $40.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 2nd. Cantor Fitzgerald increased their price objective on Rocket Lab from $29.00 to $35.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 10th. Wells Fargo & Company cut their price objective on Rocket Lab from $21.00 to $18.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Finally, Needham & Company LLC increased their price objective on Rocket Lab from $28.00 to $32.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $30.40.

Insiders Place Their Bets

In other Rocket Lab news, insider Frank Klein sold 44,885 shares of the business's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $26.66, for a total value of $1,196,634.10. Following the completion of the sale, the insider owned 1,370,190 shares in the company, valued at approximately $36,529,265.40. The trade was a 3.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Arjun Kampani sold 28,988 shares of the business's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $26.66, for a total value of $772,820.08. Following the completion of the sale, the insider owned 540,618 shares of the company's stock, valued at approximately $14,412,875.88. This represents a 5.09% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,130,995 shares of company stock valued at $29,686,039. 13.70% of the stock is owned by company insiders.

Institutional Trading of Rocket Lab

A number of hedge funds and other institutional investors have recently modified their holdings of RKLB. Wellington Management Group LLP acquired a new position in Rocket Lab during the fourth quarter valued at $17,261,000. SG Americas Securities LLC raised its position in Rocket Lab by 2,186.7% during the first quarter. SG Americas Securities LLC now owns 353,522 shares of the rocket manufacturer's stock valued at $6,321,000 after buying an additional 338,062 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in Rocket Lab by 52.0% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 58,652 shares of the rocket manufacturer's stock valued at $1,049,000 after buying an additional 20,076 shares during the period. Raymond James Financial Inc. acquired a new position in Rocket Lab during the fourth quarter valued at $5,748,000. Finally, Charles Schwab Investment Management Inc. raised its position in Rocket Lab by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,902,212 shares of the rocket manufacturer's stock valued at $73,919,000 after buying an additional 23,855 shares during the period. Institutional investors own 71.78% of the company's stock.

About Rocket Lab

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.

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