Rocket Lab (RKLB) stock fell approximately 2.7% on Monday, reaching its lowest level in nearly three months, despite winning a U.S. Space Force contract under the National Security Space Launch Phase 3 Lane 1 program. The U.S. Space Force announced on Friday night that it awarded contracts to seven companies, including Rocket Lab, to provide launch services. The contract modifications cumulatively increase the ceiling by $11.4 billion, bringing the total cumulative face value to $17 billion from $5.6 billion. Retail investors on Stocktwits displayed bullish sentiment with high message volumes, viewing current price levels as a buying opportunity. The NSSL Phase 3 Lane 1 program represents the third phase of the U.S. military's effort to secure commercial launch services for national security missions.
Space Force Awards Contracts to Seven Companies Under NSSL Phase 3 Lane 1
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 (owned by Amazon's Jeff Bezos), SpaceX, Stoke Space Technologies, Rocket Lab, Impulse Space, and Relativity Federal. According to TheFly, the companies have been awarded modifications to previously awarded contracts for National Security Space Launch Phase Three Lane One.
The orders will cumulatively increase the ceiling by $11.4 billion, 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, according to a press release from the Department of War.
Retail Investors Show Bullish Sentiment on Stocktwits
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.
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RKLB stock has lost 5.3% year-to-date.
Analysts Set 12-Month Price Target at $114.33
According to Koyfin data, 17 analysts have a 12-month price target of $114.33 on RKLB stock, implying nearly 73% upside from current levels.
FAQ
What contract did Rocket Lab win on Friday night?
Rocket Lab won a U.S. Space Force contract under the National Security Space Launch Phase 3 Lane 1 program on Friday night, alongside six other companies including SpaceX, Blue Origin, and United Launch Services.
Why did RKLB stock fall on Monday despite the Space Force contract win?
RKLB stock fell approximately 2.7% on Monday to its lowest level in nearly three months, despite the Space Force contract announcement. The source does not provide an explanation for the stock decline following the positive contract news.
What is the analyst price target for RKLB stock?
According to Koyfin data, 17 analysts have a 12-month price target of $114.33 on RKLB stock, implying nearly 73% upside from current levels.
