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

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Rocket Lab USA, Inc. (NASDAQ:RKLBGet Rating) was the target of some unusual options trading on Wednesday. Stock traders purchased 4,310 call options on the company. This represents an increase of 71% compared to the average volume of 2,519 call options.

Insider Activity

In other Rocket Lab USA news, CFO Adam C. Spice sold 41,508 shares of Rocket Lab USA stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of 5.25, for a total transaction of 217,917.00. Following the sale, the chief financial officer now owns 1,796,016 shares in the company, valued at 9,429,084. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Rocket Lab USA news, CFO Adam C. Spice sold 41,508 shares of Rocket Lab USA stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of 5.25, for a total transaction of 217,917.00. Following the sale, the chief financial officer now directly owns 1,796,016 shares of the company’s stock, valued at 9,429,084. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Arjun Kampani sold 14,121 shares of the stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of 5.25, for a total value of 74,135.25. Following the completion of the transaction, the insider now directly owns 604,835 shares of the company’s stock, valued at 3,175,383.75. The disclosure for this sale can be found here.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Deer Management Co. LLC bought a new stake in shares of Rocket Lab USA during the fourth quarter worth approximately $1,000,218,000. Vanguard Group Inc. raised its position in shares of Rocket Lab USA by 806.4% during the 1st quarter. Vanguard Group Inc. now owns 21,373,494 shares of the rocket manufacturer’s stock valued at $172,057,000 after acquiring an additional 19,015,363 shares during the last quarter. State Street Corp lifted its stake in shares of Rocket Lab USA by 1,164.6% in the 1st quarter. State Street Corp now owns 7,942,133 shares of the rocket manufacturer’s stock valued at $63,934,000 after purchasing an additional 7,314,121 shares during the period. BlackRock Inc. boosted its position in shares of Rocket Lab USA by 165.6% in the 1st quarter. BlackRock Inc. now owns 6,444,486 shares of the rocket manufacturer’s stock worth $51,878,000 after purchasing an additional 4,017,797 shares during the last quarter. Finally, Light Street Capital Management LLC grew its stake in shares of Rocket Lab USA by 72.9% during the fourth quarter. Light Street Capital Management LLC now owns 3,931,512 shares of the rocket manufacturer’s stock worth $48,279,000 after purchasing an additional 1,657,322 shares during the period. 65.04% of the stock is currently owned by institutional investors and hedge funds.

Rocket Lab USA Stock Performance

RKLB stock opened at 5.50 on Thursday. The business has a fifty day moving average of 4.78 and a 200-day moving average of 6.29. Rocket Lab USA has a twelve month low of 3.53 and a twelve month high of 21.34. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.31 and a current ratio of 4.90.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on RKLB shares. Wells Fargo & Company assumed coverage on shares of Rocket Lab USA in a research note on Tuesday, June 21st. They issued an “equal weight” rating and a $5.00 target price on the stock. Cowen raised shares of Rocket Lab USA from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $6.50 to $8.00 in a research note on Wednesday. UBS Group cut their target price on shares of Rocket Lab USA from $28.00 to $16.00 and set a “buy” rating for the company in a research note on Tuesday, May 17th. Stifel Nicolaus reduced their target price on Rocket Lab USA from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, August 17th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Rocket Lab USA from $14.00 to $15.00 and gave the company a “buy” rating in a report on Monday, August 15th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of 14.40.

About Rocket Lab USA

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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 engineering and 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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