RKLB Stock Is Falling Despite A Space Force Contract Win Alongside SPCX — Retail Sees A Buying Opportunity
- The U.S. Space Force announced on Friday night that it had awarded seven companies contracts to provide launch services under the third phase of the National Security Space Launch program's Lane 1.
- The companies selected are United Launch Services, Blue Origin, SpaceX, Stoke Space Technologies, Rocket Lab, Impulse Space and Relativity Federal.
- According to Koyfin data, 17 analysts have a 12-month price target of $114.33 on RKLB stock, implying nearly 73% upside.
Rocket Lab (RKLB) share price eased about 2.7% on Monday, dropping to its lowest in nearly three months even after winning a U.S. Space Force contract. But retail investors were bullish on the stock and saw current levels as a great entry point.
The U.S. Space Force announced on Friday night that it had awarded seven companies contracts to provide launch services under the third phase of the National Security Space Launch program's Lane 1.
United Launch Services, Blue Origin, owned by Amazon’s (AMZN) Jeff Bezos, SpaceX (SPCX), Stoke Space Technologies, Rocket Lab (RKLB), Impulse Space, and Relativity Federal have been awarded modifications to previously awarded contracts for National Security Space Launch Phase Three Lane One, according to TheFly.
The orders will cumulatively increase the ceiling by $11.4B, bringing the total cumulative face value of the contract to $17 billion from $5.6 billion.
The location and period of performance will be determined at the task order level. No funds are being obligated at time of award. Space Systems Command, Space Access, Los Angeles Air Force Base, California, is the contracting activity, a press release from the Department of War stated.
RKLB Stock: Retail Investors Add Shares At Current Levels
Retail sentiment on Stocktwits was ‘bullish’ with ‘high’ message volumes for RKLB stock.
One user said they were buying shares at current levels, hoping the next earnings cycle would push the stock to $100.
Another user maintained a long-term bullish outlook on the stock.
RKLB stock has lost 5.3% year-to-date.