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 activity on Friday. Traders acquired 109,154 call options on the stock. This represents an increase of approximately 51% compared to the average daily volume of 72,224 call options.

Rocket Lab Stock Up 7.9%

RKLB traded up $2.19 during trading on Friday, reaching $30.04. 36,968,490 shares of the stock were exchanged, compared to its average volume of 17,214,970. The stock has a market cap of $13.62 billion, a P/E ratio of -75.10 and a beta of 2.08. Rocket Lab has a twelve month low of $4.20 and a twelve month high of $33.34. The stock's 50 day moving average price is $24.37 and its two-hundred day moving average price is $23.88. 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 (NASDAQ:RKLB - Get Free Report) last issued its earnings results on Thursday, May 8th. The rocket manufacturer reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.02). The firm had revenue of $122.57 million for the quarter, compared to analyst estimates of $120.74 million. Rocket Lab had a negative return on equity of 48.92% and a negative net margin of 44.32%. Rocket Lab's quarterly revenue was up 32.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.09) earnings per share. Equities analysts expect that Rocket Lab will post -0.38 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. The Goldman Sachs Group raised their price objective on shares of Rocket Lab from $14.35 to $16.00 and gave the company a "neutral" rating in a research report on Monday, May 12th. KeyCorp restated an "overweight" rating on shares of Rocket Lab in a research report on Tuesday, June 3rd. Roth Capital raised their price objective on shares of Rocket Lab from $25.00 to $35.00 and gave the company a "buy" rating in a research report on Wednesday, May 28th. Wells Fargo & Company lowered their price target on shares of 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, Stifel Nicolaus lifted their price target on shares of Rocket Lab from $29.00 to $34.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $28.10.

Insider Buying and Selling at Rocket Lab

In other Rocket Lab news, insider Frank Klein sold 2,569 shares of the firm's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $29.97, for a total value of $76,992.93. Following the completion of the sale, the insider now owns 1,415,075 shares in the company, valued at approximately $42,409,797.75. This trade represents a 0.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Matthew Ocko sold 820,000 shares of the firm's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $26.01, for a total transaction of $21,328,200.00. Following the completion of the sale, the director now owns 1,083,053 shares of the company's stock, valued at $28,170,208.53. The trade was a 43.09% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,118,289 shares of company stock worth $29,287,134. 13.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Rocket Lab

A number of institutional investors have recently added to or reduced their stakes in RKLB. Vanguard Group Inc. increased its holdings in Rocket Lab by 10.6% during the first quarter. Vanguard Group Inc. now owns 40,029,546 shares of the rocket manufacturer's stock worth $715,728,000 after buying an additional 3,833,969 shares during the last quarter. FMR LLC increased its holdings in Rocket Lab by 30,853.3% during the fourth quarter. FMR LLC now owns 3,696,136 shares of the rocket manufacturer's stock worth $94,141,000 after buying an additional 3,684,195 shares during the last quarter. Two Sigma Advisers LP bought a new position in Rocket Lab during the fourth quarter worth $72,623,000. BNP Paribas Financial Markets bought a new position in Rocket Lab during the fourth quarter worth $56,977,000. Finally, Two Sigma Investments LP bought a new position in Rocket Lab during the fourth quarter worth $47,074,000. 71.78% of the stock is currently owned by institutional investors and hedge funds.

Rocket Lab 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.