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LONG BEACH, Calif. - Rocket Lab National Security LLC, a subsidiary of Rocket Lab USA, Inc (NASDAQ:RKLB), has announced the successful completion of the Critical Design Review (CDR) for the U.S. Space Force Space Systems Command’s (SSC) Tactically Responsive Space (TacRS) mission, named VICTUS HAZE. The announcement comes as the space technology company, now valued at $11.8 billion, has seen its stock surge over 238% in the past six months, according to InvestingPro data.
The CDR milestone indicates that the spacecraft’s design meets the mission’s requirements and programmatic constraints, marking a transition to the production phase. This phase will include the integration of the spacecraft and launch vehicle, as well as the preparation of the ground segment for a launch scheduled later this year.
Selected in April 2024 for the $32 million U.S. Space Force SSC mission, Rocket Lab is tasked with designing, building, licensing, launching, and operating a spacecraft capable of rendezvous and proximity operations. The mission will demonstrate the company’s ability to respond within 24 hours to potential threats in orbit, showcasing Rocket Lab’s end-to-end space solutions. With analysts forecasting 77% revenue growth this fiscal year and a healthy current ratio of 2.58, the company appears well-positioned to execute on this contract.
Brad Clevenger, President and CEO of Rocket Lab National Security, highlighted the rarity of a company being able to build, launch, and operate a spacecraft on a tactically responsive timeline. "VICTUS HAZE solidifies Rocket Lab as a trusted and highly capable, end-to-end space company that can enable complex missions to serve the needs of the nation," Clevenger stated.
The VICTUS HAZE mission aims to exhibit responsive space capabilities, including launch readiness at short notice, the ability to track and reach a target object, and the identification and characterization of on-orbit threats.
Rocket Lab, founded in 2006, has established a reputation for reliable launch services, satellite manufacturing, spacecraft components, and on-orbit management solutions. The Electron small orbital launch vehicle, designed and manufactured by Rocket Lab, has become the second most frequently launched U.S. rocket annually since its first orbital launch in January 2018. The company generated $363.8 million in revenue over the last twelve months, with a gross profit margin of 26%. Discover more detailed insights and 13 additional key investment tips for RKLB through InvestingPro’s comprehensive research reports.
The information in this article is based on a press release statement from Rocket Lab USA, Inc.
In other recent news, BlackSky Technology Inc. has successfully deployed its first Gen-3 satellite through a collaboration with Rocket Lab, marking a crucial advancement in its Earth-imaging satellite constellation. This satellite launch is part of a series of planned missions aimed at enhancing BlackSky’s space-based intelligence capabilities, with the Gen-3 constellation offering high-resolution imagery and AI-enabled analytics. Meanwhile, Rocket Lab has also been active, delivering its third Pioneer spacecraft to Varda Space Industries for an upcoming mission, showcasing its proficiency in handling multiple complex missions. In a related development, KeyBanc Capital Markets has raised its price target for Rocket Lab to $32, citing recent achievements and increased support for the aerospace sector. The analyst noted Rocket Lab’s successful tests and infrastructure expansion as positive indicators. Additionally, the aerospace sector has seen a boost following renewed commitments to space exploration, with companies like Rocket Lab experiencing significant investor interest. These developments highlight the growing momentum and potential within the space industry.
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