search icon
      blog search icon

      Rocket Lab USA Inc. (RKLB) continues to Rise Pre-Market. Here’s Why? - Stocks Telegraph

      By Gule Rukhsar

      Published on

      November 18, 2021

      10:37 AM UTC

      Rocket Lab USA Inc. (RKLB) continues to Rise Pre-Market. Here’s Why? - Stocks Telegraph

      Rocket Lab USA Inc. (RKLB) continued an uptrend in the pre-market, going up to $16.88, versus its previous close at $16.28 on November 17. While gaining 5.17% at the regular session trading volume of 7.45 million, RKLB stock gains a further 3.7% in the pre-market. On the previous day, the stock saw a high of $16.75 and a low of $15.40, whereas the 52-week range varied from $21.34 to $9.50. Over the past 5 days, the stock gained a value of 14.41% and a gain of 61.03% year to date. RKLB stands at a market capital of $6.95 billion and has 449.2 million shares outstanding. Today, the company announced its 107th satellite’s launch as well as successful helicopter recovery operation tests. The stock continued its uptrend in the pre-market after the new developments.

      Rocket Lab USA Inc. (RKLB) is an aerospace company that focuses on developing rocket launch and control systems for space and defense industries.

      RKLB’s Launch of new Satellite and Successful Tests

      According to reports, RKLB deployed two satellites for BlackSky, which is a real-time geospatial monitoring company. The launch of these satellites marks RKLB’s 107 satellite launches into orbit. Moreover, the company also ran a successful test of helicopter operations for the recovery mission. The recovery mission is part of the company’s program to make Electron rocket the first-ever reusable, orbital-class commercial small rocket in the world. The test used a helicopter to observe and track the Electron rocket’s first stage while the rocket descended to Earth. The helicopter was successful in tracking the rocket and it also completed communications tests in the recovery zone.

      This test brought RKLB one more step close to capturing the rocket from the sky for its re-launch after refurbishment.

      Q3 Earnings Result

      On November 15, Rocket Lab USA Inc. (RKLB) announced its financial results for the quarter ended September 30, 2021. As per the results, the company generated a revenue of $5.3 million which was above the high end of the guidance range. In addition, for the same quarter, the Space Systems revenue increased by 360% from Q3 of 2020.

      Also, as of September 30, 2021, the company’s backlog increased to $183 million from that of $141 million on June 30, 2021. As of November 15, 2021, the backlog is $237 million.

      RKLB’s Q4 Guidance

      RKLB also issued guidance for its fourth quarter of 2021. As per the guidance, the company expects revenue between $23 million to $25 million. Lastly, the company also expects a GAAP net loss in the range of $24 million and $26 million.

      More From Stocks telegraph