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Rocket Lab USA, Inc. (RKLB) Moves 9.4% Higher: Will This Strength Last?
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Rocket Lab USA, Inc. (RKLB - Free Report) shares ended the last trading session 9.4% higher at $6.64. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 6.7% gain over the past four weeks.
The latest uptick in the share performance of Rocket Lab can be attributed to the fact that the company has recently signed a contract with Japanese Earth imaging company Synspective, to launch two dedicated Electron missions.
This company is expected to post quarterly loss of $0.10 per share in its upcoming report, which represents a year-over-year change of -25%. Revenues are expected to be $61.68 million, up 11.2% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Rocket Lab USA, Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on RKLB going forward to see if this recent jump can turn into more strength down the road.
Rocket Lab USA, Inc. belongs to the Zacks Aerospace - Defense industry. Another stock from the same industry, L3Harris (LHX - Free Report) , closed the last trading session 1.3% higher at $198.46. Over the past month, LHX has returned 2.6%.
For L3Harris, the consensus EPS estimate for the upcoming report has changed +0.2% over the past month to $2.91. This represents a change of -9.9% from what the company reported a year ago. L3Harris currently has a Zacks Rank of #3 (Hold).
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Rocket Lab USA, Inc. (RKLB) Moves 9.4% Higher: Will This Strength Last?
Rocket Lab USA, Inc. (RKLB - Free Report) shares ended the last trading session 9.4% higher at $6.64. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 6.7% gain over the past four weeks.
The latest uptick in the share performance of Rocket Lab can be attributed to the fact that the company has recently signed a contract with Japanese Earth imaging company Synspective, to launch two dedicated Electron missions.
This company is expected to post quarterly loss of $0.10 per share in its upcoming report, which represents a year-over-year change of -25%. Revenues are expected to be $61.68 million, up 11.2% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Rocket Lab USA, Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on RKLB going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Rocket Lab USA, Inc. belongs to the Zacks Aerospace - Defense industry. Another stock from the same industry, L3Harris (LHX - Free Report) , closed the last trading session 1.3% higher at $198.46. Over the past month, LHX has returned 2.6%.
For L3Harris, the consensus EPS estimate for the upcoming report has changed +0.2% over the past month to $2.91. This represents a change of -9.9% from what the company reported a year ago. L3Harris currently has a Zacks Rank of #3 (Hold).