Rocket Lab Soars to 10th in WSB Rankings with Stellar 40-Place Leap

Rocket Lab USA has climbed to the 10th position in the latest WSB rankings, marking an impressive rise of 40 places from the previous day. The company’s stock saw an increase of 2.57%, reaching its highest point since January 2022 during intraday trading.

On October 24th, Keybanc maintained its ‘overweight’ rating for Rocket Lab USA, setting a new price target of $12.00. This comes amidst the company’s recently released mid-2024 financial report. As of June 30, 2024, Rocket Lab USA reported revenue of $199 million, a year-on-year growth of 70.19%, though with a net loss of $85.89 million, resulting in an earnings per share of -$0.17.

Founded on July 28, 2020, as a Delaware corporation, Rocket Lab has positioned itself as a global leader in the space sector. Known for manufacturing rockets and spacecraft, the company aims to simplify orbital access. Rocket Lab provides comprehensive mission services across civilian, defense, and commercial markets, boasting frequent and reliable space access from its headquarters in Long Beach, California. The company designs and manufactures the Electron launch vehicle and the Photon satellite platform, while also working on the Neutron rocket. Since its first orbital launch in January 2018, Rocket Lab’s Electron has become the second most frequently launched rocket in the U.S.

In the realm of innovation, Rocket Lab has made significant advancements with its Neutron medium payload rocket. This rocket, the largest composite rocket developed to date, represents a breakthrough in space travel technology. Initially, it was constructed by manually laying hundreds of layers of carbon fiber over a mold. However, with the development of a state-of-the-art Automatic Fiber Placement (AFP) machine, the process that once took weeks can now be completed in just 24 hours.

This new method uses a 39-foot-tall, 75-ton autonomous 3D printer capable of laying down 328 feet of carbon fiber per minute. The AFP system’s 360-degree movement allows it to configure layers in various directions, significantly enhancing the strength and stiffness of each structure. This innovation enables the manufacturing of even the largest components, such as the 91-foot-long sections of the Neutron rocket, with improved efficiency and reduced cost, saving over 150,000 labor hours.

Rocket Lab has ambitious goals, aiming to launch the first Neutron rocket by 2025, positioning itself as a frontrunner in the development of large composite reusable rockets. The integration of the AFP system is seen as a pivotal step in achieving scalable and sustainable solutions in the space industry.