What's Going On With Rocket Lab Stock Monday?

Rocket Lab USA Inc RKLB shares are trading higher Monday as the stock continues to bounce back from an initial selloff on earnings. The company on Monday announced a successful moon landing supported by its software.

What Happened: Rocket Lab shares sold off on earnings late last week. The company reported fourth-quarter revenue of $132.39 million, beating the consensus estimate of $130.58 million, and a fourth-quarter loss of 10 cents per share, in line with analyst estimates.

Total revenue was up 121% on a year-over-year basis and the company ended the quarter with approximately $271 million in cash and cash equivalents.

Shares initially traded lower on the report as Rocket lab guided for first-quarter revenue of $117 million to $123 million versus estimates of $135.67 million. The company also said it expects an adjusted EBITDA loss of $33 million to $35 million in the first quarter.

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Despite the initial reaction, Rocket Lab shares bounced back on Friday and closed the day up more than 3%. The stock is continuing to move higher Monday morning after the company announced the successful moon landing of Firefly Aerospace’s Blue Ghost Mission 1, which was supported by Rocket Lab’s MAX Flight and MAX Ground Data Software suites.

“Congratulations to the Firefly team for the successful landing of the Blue Ghost 1 mission, a remarkable accomplishment achieved by few. Rocket Lab is honored to support this mission with our flight-proven space software and state-of-the-art components,” said Kyle Andringa, Rocket Lab’s senior director of Space Systems Software.

Firefly’s Blue Ghost mission is part of NASA’s Commercial Lunar Payload Services (CLPS) program.

RKLB Price Action: Rocket Lab shares were up 4.25% at $21.36 at the time of publication Monday, according to Benzinga Pro.

Photo: courtesy of Rocket Lab.