Rocket Lab USA (NASDAQ:RKLB), a provider of launch services and space systems, shot up in pre-market trading after the company completed a successful launch of its 42nd Electron rocket and deployed a satellite for a Japanese company. This satellite was deployed for Japan-based Earth imaging company the Institute for Q-shu Pioneers of Space (iQPS). This mission was “Rocket Lab’s 10th Electron launch for the year” and surpassed the company’s prior annual record of nine launches last year.
Electron has retained the title of the second most frequently launched U.S. rocket on an annual basis for the fifth year in a row. The mission was named ‘The Moon God Awakens‘ and launched from Pad B at Rocket Lab’s Launch Complex 1 in New Zealand on December 15. The mission progressed swiftly, taking only eight months from the signing of the contract to the successful launch.
Is RKLB a Good Stock to Buy?
Analysts are cautiously optimistic about RKLB stock, with a Moderate Buy consensus rating based on five Buys and two Holds. RKLB stock has surged more than 20% in the past year, and the average RKLB price target of $7.39 implies upside potential of 42.9% at current levels.
