Rocket Lab (RKLB) stock is trading about 4% higher in pre-market after the aerospace company announced that it will attempt another Electron launch less than two days after its last mission. This quick turnaround shows off Rocket Lab’s fast and flexible launch capabilities, catching investor attention.
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The previous mission was a government project focused on testing hypersonic and missile defense technology.
Second Launch in Two Days Marks a New Record
The upcoming mission, called “Follow My Speed,” is set to lift off today from Rocket Lab’s New Zealand site at 12:15 UTC. The rocket will carry one satellite for a private customer.
This follows a successful mission earlier this week from Virginia, which marked Rocket Lab’s 75th launch and helped it beat its previous record of 16 launches in a year. If today’s launch goes as planned, Rocket Lab will reach 18 launches this year, setting a new company record. It will also be the third time this year that Rocket Lab has completed two launches within 48 hours.
With another launch happening now and new government contracts in hand, investors view Rocket Lab’s progress as steady and promising.
Is RKLB Stock a Buy, Sell, or Hold?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on RKLB stock based on nine Buys, four Holds, and zero Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average RKLB price target of $65.17 per share implies 49.4% upside potential.
