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What's Going On With Rocket Lab Stock?
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What's Going On With Rocket Lab Stock?
Apr 9, 2024 7:09 AM

Rocket Lab USA Inc ( RKLB ) shares are trading higher Tuesday. The company was awarded a launch contract by the U.S. Space Force this week.

What Happened: Rocket Lab on Monday said it was awarded a $14.49 million task order by the U.S. Space Force to launch an Electron mission from Launch Complex 2. 

The mission, called Space Test Program-30, falls under the Space Systems Command Assured Access to Space organization and is part of Orbital Services Program-4. It aims to deliver research experiments and technology demonstrations to orbit for the DoD and contribute to future space systems development. The mission is scheduled to take place within 24 months.

“Flexible, responsive, and reliable launch is critical to ensuring resilient space capabilities for the nation and we’re proud to deliver it to the Space Force once again with Electron,” said Peter Beck, founder and CEO of Rocket Lab.

“After more than 40 successful launches from pads spanning both hemispheres, we’ve delivered time and time again for DoD, national security, and commercial space users alike, cementing Electron’s position as the leading small launch solution globally. We’re excited to demonstrate this unique combination of mature proven execution, speed, and agility for STP-S30.”

Check This Out: ‘We Need The Horse First:’ SpaceX CEO Elon Musk Tells How Important Starship Is To Build Self-Sustaining Mars City In 20 Years

Is RKLB A Good Stock To Buy?

Wall Street analysts view Rocket Lab on the whole as a Buy, given the history of coverage over the past three months. Matthew Akers from Wells Fargo is the most bearish, expecting a 15% fall in the stock in the coming year.

But looking at how the market as a whole thinks of the stock, you can reference historical price action for views on whether investors feel strongly about the stock one way or another. In the past 3 months, Rocket Lab USA ( RKLB ) fell 27.55%, which indicates that opinion soured on the business and how attractive it is to own based on either its stock price, or underlying fundamentals, like revenue, which rose 15.9% over the past year.

A complete overview of how Wall Street views individual stocks is available here, while real time updates on the latest analyst actions will be delivered via Benzinga PRO. Try it for free.

RKLB Price Action: Rocket Lab shares were up 2.37% at $3.86 at the time of publication, according to Benzinga Pro.

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