Rocket Lab USA, Inc. (NASDAQ:RKLB - Get Free Report) was the recipient of unusually large options trading on Tuesday. Investors bought 135,118 call options on the company. This represents an increase of approximately 107% compared to the average volume of 65,188 call options.
Several research analysts recently weighed in on RKLB shares. TD Cowen raised Rocket Lab USA to a "strong-buy" rating in a research report on Thursday, December 19th. KeyCorp lifted their price target on shares of Rocket Lab USA from $11.00 to $12.00 and gave the stock an "overweight" rating in a research report on Thursday, October 24th. Stifel Nicolaus lifted their target price on shares of Rocket Lab USA from $26.00 to $31.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. Bank of America lifted their target price on shares of Rocket Lab USA from $10.00 to $30.00 and gave the company a "buy" rating in a research note on Thursday, November 14th. Finally, Wells Fargo & Company lifted their target price on shares of Rocket Lab USA from $13.50 to $22.00 and gave the stock an "equal weight" rating in a report on Wednesday, December 11th. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Rocket Lab USA has an average rating of "Moderate Buy" and an average price target of $20.06.
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In related news, Director Matthew Ocko sold 2,000,000 shares of Rocket Lab USA stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $17.73, for a total value of $35,460,000.00. Following the completion of the transaction, the director now directly owns 2,351,135 shares in the company, valued at approximately $41,685,623.55. This trade represents a 45.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Arjun Kampani sold 28,562 shares of Rocket Lab USA stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $24.15, for a total value of $689,772.30. Following the sale, the general counsel now directly owns 608,996 shares of the company's stock, valued at $14,707,253.40. This trade represents a 4.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,114,530 shares of company stock worth $38,168,400. 13.70% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Amalgamated Bank increased its stake in shares of Rocket Lab USA by 26.7% in the second quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer's stock worth $58,000 after buying an additional 2,538 shares during the period. Sanctuary Advisors LLC bought a new stake in shares of Rocket Lab USA during the 2nd quarter valued at $76,000. Allworth Financial LP boosted its stake in Rocket Lab USA by 1,827.6% in the 3rd quarter. Allworth Financial LP now owns 9,484 shares of the rocket manufacturer's stock worth $92,000 after purchasing an additional 8,992 shares in the last quarter. Smith Anglin Financial LLC bought a new position in Rocket Lab USA in the 3rd quarter worth about $104,000. Finally, Xponance Inc. raised its position in Rocket Lab USA by 29.1% in the 2nd quarter. Xponance Inc. now owns 22,185 shares of the rocket manufacturer's stock worth $106,000 after buying an additional 4,997 shares during the last quarter. Institutional investors own 71.78% of the company's stock.
RKLB opened at $31.27 on Wednesday. The company's fifty day moving average price is $24.23 and its two-hundred day moving average price is $13.52. The company has a market cap of $15.63 billion, a price-to-earnings ratio of -84.51 and a beta of 1.98. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97. Rocket Lab USA has a 1-year low of $3.47 and a 1-year high of $31.64.
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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