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

Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report) was the target of unusually large options trading on Wednesday. Stock traders bought 124,558 call options on the stock. This is an increase of approximately 84% compared to the average daily volume of 67,809 call options.

Insider Buying and Selling

In other Rocket Lab USA news, insider Frank Klein sold 1,835 shares of Rocket Lab USA stock in a transaction on Monday, March 17th. The shares were sold at an average price of $19.93, for a total value of $36,571.55. Following the completion of the sale, the insider now directly owns 1,417,644 shares of the company's stock, valued at approximately $28,253,644.92. The trade was a 0.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 13.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SeaCrest Wealth Management LLC purchased a new position in Rocket Lab USA in the fourth quarter valued at approximately $754,000. Smith Anglin Financial LLC grew its position in shares of Rocket Lab USA by 10.3% in the fourth quarter. Smith Anglin Financial LLC now owns 11,746 shares of the rocket manufacturer's stock valued at $299,000 after purchasing an additional 1,096 shares in the last quarter. CHURCHILL MANAGEMENT Corp bought a new stake in shares of Rocket Lab USA during the fourth quarter valued at about $1,758,000. Connective Portfolio Management LLC bought a new stake in Rocket Lab USA during the 4th quarter worth approximately $586,000. Finally, Hennion & Walsh Asset Management Inc. raised its position in shares of Rocket Lab USA by 3.9% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 91,872 shares of the rocket manufacturer's stock worth $2,340,000 after buying an additional 3,479 shares in the last quarter. 71.78% of the stock is currently owned by hedge funds and other institutional investors.

Rocket Lab USA Stock Performance

Rocket Lab USA stock traded up $0.04 during mid-day trading on Friday, reaching $25.26. 8,015,579 shares of the company's stock were exchanged, compared to its average volume of 15,769,719. The business's fifty day simple moving average is $20.04 and its 200 day simple moving average is $22.31. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. Rocket Lab USA has a one year low of $4.15 and a one year high of $33.34. The firm has a market capitalization of $11.46 billion, a PE ratio of -68.58 and a beta of 2.04.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last released its earnings results on Thursday, May 8th. The rocket manufacturer reported ($0.12) EPS for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.02). The business had revenue of $122.57 million for the quarter, compared to the consensus estimate of $120.74 million. Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. The company's revenue for the quarter was up 32.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.09) earnings per share. On average, sell-side analysts expect that Rocket Lab USA will post -0.38 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on RKLB. Needham & Company LLC reaffirmed a "buy" rating and issued a $28.00 target price on shares of Rocket Lab USA in a research report on Tuesday. Wells Fargo & Company cut their target price on Rocket Lab USA from $21.00 to $18.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. KeyCorp reduced their price target on shares of Rocket Lab USA from $32.00 to $28.00 and set an "overweight" rating for the company in a research report on Friday, February 28th. Citigroup dropped their price objective on shares of Rocket Lab USA from $35.00 to $33.00 and set a "buy" rating on the stock in a research note on Friday, February 28th. Finally, Morgan Stanley boosted their target price on shares of Rocket Lab USA from $18.00 to $20.00 and gave the stock an "equal weight" rating in a research report on Monday, March 10th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $23.50.

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.