1 Monster Space Stock I'm Watching This Upcoming Earnings Season
Yahoo Finance ·
Rocket Lab ( RKLB +0.49% ) , a developer of reusable orbital rockets, went public through a merger with a special-purpose acquisition company (SPAC) on Aug. 25, 2021. It started trading at $11.58 on the first day, but it now trades at about $64. Let's see why this space stock skyrocketed over the past five years -- and why its next earnings report could drive it higher. Rocket Lab is best known for its Electron rockets, which the company has launched 94 times to deploy over 265 satellites, and its upcoming, higher-capacity Neutron rocket. Its big launch customers include NASA, the U.S. Space Force, and the Swedish National Space Agency. It also launches HASTE (Hypersonic Accelerator Suborbital Test Electron), a customized rocket that helps the U.S. Department of Defense test hypersonic and suborbital technologies. However, those launch services typically account for only 25%-30% of Rocket Lab's total revenue. More than 70% comes from its space systems segment, which develops satellite components, satellite buses, and solar panels for a wide range of customers. It's also in the process of acquiring Iridium ( IRDM -0.36% ) , a developer of satellite networks for critical communications, in an $8 billion deal that is expected to close next year. It will expand its space systems segment and be "significantly accretive" to its cash flow and profitability.
DYAX Investor Sentiment
Bullish (Long) 51% · Bearish (Short) 49%
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