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LONG BEACH, Calif. - Rocket Lab Corporation (NASDAQ:RKLB), whose stock has surged over 24% in the past week and is trading near its 52-week high, announced it will launch four satellites for geospatial analytics company HawkEye 360 on Thursday, June 26 from its New Zealand facility, demonstrating a remarkably swift two-day turnaround from announcement to launch. According to InvestingPro analysis, the company’s market performance reflects strong investor confidence, though current valuations suggest the stock may be overvalued.
The mission, named "Get The Hawk Outta Here," was rescheduled ahead of a previously planned Electron rocket mission to accommodate additional checkouts. It represents the third of four launches scheduled from Rocket Lab’s Launch Complex 1 this month, following successful missions on June 3 and June 11. This operational tempo aligns with the company’s impressive revenue growth of nearly 65% over the last twelve months.
The dedicated launch will deploy three microsatellites, collectively called Cluster 12, designed to collect and geolocate radio frequency signals worldwide. The mission will also carry Kestrel-0A, an experimental satellite for evaluating emerging capabilities and future technology enhancements.
"Get The Hawk Outta Here" will lift off no earlier than 17:00 UTC on June 26 from New Zealand, with a fourth mission named "Symphony in the Stars" expected later this month.
The rapid scheduling adjustment highlights Rocket Lab’s operational flexibility in managing multiple launches in close succession. Since its first orbital launch in January 2018, the company’s Electron vehicle has become the second most frequently launched U.S. rocket annually, delivering more than 200 satellites to orbit.
According to the company’s press release statement, Rocket Lab operates three launch pads across two launch sites, with two pads in New Zealand and one in Virginia. While the company maintains a strong operational position with a current ratio of 2.08, indicating solid short-term financial health, investors seeking deeper insights can access comprehensive analysis and 16 additional ProTips through InvestingPro’s detailed research reports, which provide expert analysis on over 1,400 US stocks.
In other recent news, Rocket Lab Corporation has secured a contract to launch two dedicated missions for a commercial client using its Electron rocket. The first mission, "Symphony In The Stars," is scheduled for June 2025, with the second planned for later that year. This contract highlights Rocket Lab’s growing launch frequency and its ability to provide responsive launch services. Additionally, Rocket Lab successfully completed its 66th Electron launch, deploying a satellite for the Institute for Q-shu Pioneers of Space, marking its second launch for the Japanese company in less than a month.
Cantor Fitzgerald has maintained its Overweight rating on Rocket Lab, raising the stock price target to $35 from $29. The firm cited Rocket Lab’s successful launch track record and strategic positioning in the space industry as key factors. Stifel analysts also reiterated a Buy rating, with a price target of $34, following discussions on the Neutron development program and recent acquisitions aimed at enhancing Rocket Lab’s technological capabilities. These developments reflect Rocket Lab’s ongoing efforts to strengthen its position as a leading space company.
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