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Why Is Rocket Lab Stock Up Today?

Erica Kollmann
September 27, 2024

Rocket Lab USA, Inc. (NASDAQ:RKLB) shares are climbing higher Friday after Keybanc raised its price target on the stock from $8 to $11.

The Details: Keybanc analyst Michael Leshock maintained an Overweight rating and raised the price target on Rocket Lab from $8 to $11 on Friday. According to data from Benzinga Pro, Rocket Lab's stock has gained nearly 30% over the past five days and is trading just below $10, leaving approximately 10% upside to the analyst's forecast. 

Read Next: What’s Going On With MicroStrategy Stock?

What Else: Rocket Lab announced the completion of its second spacecraft for Varda Space Industries on Thursday. The companies plan to conduct in-space operations, reentry positioning maneuvers and deorbiting to recover Varda's capsule.

Last Friday, the company launched its 53rd Electron mission, deploying five satellites to Low Earth Orbit as part of its "Kinéis Killed the RadIOT Star" mission. 

Rocket Lab and other space stocks have been trending across social media as popularity among retail investors grows. 

Should I Sell My RKLB Stock?

When deciding to hold on to or sell a stock, investors should consider their time horizon, unrealized gains and total return.

Shares of Rocket Lab USA have increased by 122.38% in the past year. An investor who bought shares of Rocket Lab USA at the beginning of the year would make a profit of $4.43 per share if they sold it today. The stock has risen 56.34% over the past month, meaning an investor who bought shares on Aug. 1 would see a capital gain of $4.93.

Rocket Lab USA shares have an all-time high of $16.28, representing 67.14% upside from current levels.

Investors may also consider market dynamics. The Relative Strength Index can be used to indicate whether a stock is overbought or oversold. Rocket Lab USA stock currently has an RSI of 90.94, indicating overbought conditions.

For access to advanced charting and analysis tools and stock data, check out Benzinga PRO. Try it for free.

RKLB Price Action: According to Benzinga Pro, Rocket Lab USA shares are up 12.5% at $9.78 at the time of publication Friday.

Read Also:

  • Super Micro Computer Stock Falls On Report Of DOJ Probe: What To Know

Image: Courtesy of Rocket Lab USA, Inc.

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