Traders Buy High Volume of Rocket Lab Call Options (NASDAQ:RKLB)

Rocket Lab Corporation (NASDAQ:RKLB) saw unusually large options trading activity on Friday. Stock investors acquired 109,154 call options on the stock. This is an increase of approximately 51% compared to the average daily volume of 72,224 call options.

Insider Buying and Selling

In other Rocket Lab news, Director Matthew Ocko sold 820,000 shares of Rocket Lab stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $26.01, for a total value of $21,328,200.00. Following 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Frank Klein sold 2,569 shares of Rocket Lab stock in a transaction that occurred on Wednesday, May 28th. The stock was 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 directly owns 1,415,075 shares in the company, valued at approximately $42,409,797.75. The trade was a 0.18% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,118,289 shares of company stock valued at $29,287,134. Company insiders own 13.70% of the company’s stock.

Hedge Funds Weigh In On Rocket Lab

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Rocket Lab by 10.6% during the 1st quarter. Vanguard Group Inc. now owns 40,029,546 shares of the rocket manufacturer’s stock valued at $715,728,000 after acquiring an additional 3,833,969 shares during the period. Geode Capital Management LLC increased its position in Rocket Lab by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 8,285,693 shares of the rocket manufacturer’s stock worth $211,084,000 after buying an additional 32,658 shares during the period. Invesco Ltd. increased its position in Rocket Lab by 56.1% during the first quarter. Invesco Ltd. now owns 3,738,250 shares of the rocket manufacturer’s stock worth $66,840,000 after buying an additional 1,343,518 shares during the period. FMR LLC increased its position 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 period. Finally, Northern Trust Corp increased its position in Rocket Lab by 9.5% during the fourth quarter. Northern Trust Corp now owns 3,227,617 shares of the rocket manufacturer’s stock worth $82,207,000 after buying an additional 281,339 shares during the period. 71.78% of the stock is currently owned by hedge funds and other institutional investors.

Rocket Lab Stock Up 7.9%

Shares of RKLB stock opened at $30.04 on Friday. Rocket Lab has a twelve month low of $4.20 and a twelve month high of $33.34. The stock has a market cap of $13.62 billion, a P/E ratio of -75.10 and a beta of 2.08. The stock has a 50 day moving average of $24.37 and a 200 day moving average of $23.88. The company has a current ratio of 2.08, a quick ratio of 1.72 and a debt-to-equity ratio of 0.97.

Rocket Lab (NASDAQ:RKLB) last announced its earnings results on Thursday, May 8th. The rocket manufacturer reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.02). The business 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%. The company’s quarterly revenue was up 32.1% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.09) earnings per share. As a group, sell-side analysts expect that Rocket Lab will post -0.38 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on RKLB shares. Cantor Fitzgerald lifted their target price on Rocket Lab from $29.00 to $35.00 and gave the stock an “overweight” rating in a report on Tuesday, June 10th. KeyCorp reiterated an “overweight” rating on shares of Rocket Lab in a report on Tuesday, June 3rd. Wells Fargo & Company lowered their target price on Rocket Lab from $21.00 to $18.00 and set an “equal weight” rating for the company in a report on Tuesday, April 8th. Citigroup lowered their target price on Rocket Lab from $35.00 to $33.00 and set a “buy” rating for the company in a report on Friday, February 28th. Finally, TD Cowen raised Rocket Lab to a “strong-buy” rating in a research report on Monday, February 24th. Five analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Rocket Lab currently has an average rating of “Moderate Buy” and a consensus target price of $28.10.

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.