- The contract is part of a U.S. Department of War effort to accelerate hypersonic flight tests, the company said.
- The new award is the single largest launch contract in Rocket Lab’s history, bringing the total number of launches in the backlog to more than 70.
- Separately, Clear Street analyst Greg Pendy on Wednesday initiated coverage of RKLB with a ‘Buy’ rating and $88 price target.
Shares of Rocket Lab Corp (RKLB) edged up 3% after hours on Wednesday after the company secured a $190 million contract under which it will conduct 20 hypersonic test flights with its HASTE launch vehicle.
The contract is part of a U.S. Department of War effort to accelerate hypersonic flight tests, the company said.
Test Flight Timeline
The company will now perform 20 hypersonic test flights with its HASTE launch vehicle over a four-year period. The first of the missions is slated to take place within months of contract signing, and the flights are aimed at demonstrating the company’s operational efficiency and ability to meet modern warfare demands, as per a statement.
The new award is the single largest launch contract in Rocket Lab’s history, bringing the total number of launches in backlog to more than 70 and pushing Rocket Lab’s total backlog across launch and space systems to more than $2 billion, the company said. Rocket Lab has sold 28 new launches in the first quarter of 2026 so far, including many for its Electron launch vehicle.
Analyst Take
Separately, Clear Street analyst Greg Pendy on Wednesday initiated coverage of RKLB with a ‘Buy’ rating and a $88 price target.
The firm cited three growth drivers — medium-lift Neutron launch vehicle, small-lift leadership with Electron, and Space System segment which is increasingly securing prime contracts — for its rating, adding that it reinforces the company’s position as a leading integrated space operator.
Clear Street said that it sees these growth drivers leading to 35% annual revenue growth for Rocket Lab through 2030.
How Did Stocktwits Users React?
On Stocktwits, retail sentiment around RKLB stock fell from ‘bullish’ to ‘bearish’ territory over the past 24 hours, while message volume rose from ‘normal’ to ‘high’ levels.
RKLB stock has risen 286% over the past 12 months.
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