Shares of Rocket Lab Corp (NASDAQ:RKLB) saw a notable increase on Monday morning as investors geared up for the company’s upcoming third-quarter financial results, which are set to be disclosed after the market closes. A conference call will follow the earnings report at 5 p.m. ET, providing further insights into the company’s performance.
The uptick in Rocket Lab’s stock comes after a tumultuous week that saw the shares dip despite encouraging developments, such as the success of the 74th Electron mission, which deployed a new radar satellite for Japan’s iQPS. Currently, Wall Street estimates predict a quarterly loss of 10 cents per share, with revenues expected to be around $151 million. Despite the recent decline, Rocket Lab’s stock has demonstrated remarkable resilience, rising over 110% since the start of the year.
Financial analysts maintain a positive outlook for Rocket Lab, with KeyBanc assigning an Overweight rating and a price target of $75. Meanwhile, Baird has recently started coverage with an Outperform rating and a target of $83, reflecting their confidence in the company’s potential.
Investors are eagerly awaiting the earnings report for updates regarding Rocket Lab’s growth in its Space Systems segment and advancements on the new Neutron rocket. The anticipation is palpable, and Rocket Lab has earned a high Momentum score of 98.04 according to Benzinga Edge stock rankings, illustrating its strong recent performance.
As of Monday, Rocket Lab shares were trading at $52.72, up 2.04%, based on data from Benzinga Pro. This increasing interest in the company highlights the growing excitement around its innovative technologies and expansion plans in the aerospace industry.
For those looking to invest in Rocket Lab, purchasing shares typically requires a brokerage account. Many platforms offer the option to buy fractional shares, allowing investors to own portions of stock. Alternatively, those considering shorting the stock will need access to an options trading platform or a broker who can assist with the process.
Overall, Rocket Lab Corp continues to demonstrate significant potential in the aerospace sector, and investors appear optimistic about the company’s future as it prepares to unveil its financial results.