Shares of space company Rocket Lab USA (NASDAQ:RKLB) have dropped nearly 9% in the morning session today after it reported an issue during the launch of its 41st mission.
Post lift-off, the rocket achieved first-stage burn and stage separation. However, there was an issue nearly 2 minutes and 30 seconds into the flight, resulting in the end of the mission.
RKLB is working in tandem with the FAA and other agencies to investigate the root cause of the mission failure. The company’s Electron rocket has had 37 successful missions so far and placed 171 satellites into orbit.
Following this setback, RKLB has postponed its next mission, which was scheduled before the end of the third quarter, as it undertakes corrective actions.
Importantly, the company expects to provide a revised top-line outlook for the third quarter in the coming days. Rocket Lab is slated to announce third-quarter results on November 13, and the Street largely expects it to incur a net loss per share of $0.04 on revenue of $75.67 million.
What is the Target Price for RKLB Stock?
Overall, the Street has a consensus price target of $9.61 on RKLB, alongside a Moderate Buy consensus rating. This implies a massive 112.4% potential upside in the stock.
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