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.
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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.
