Shares of Rocket Lab Corp (NASDAQ:RKLB) are up 1.2% to trade at $59.60 this morning, paring a steep loss at the open. While the space company reported a wider-than-expected adjusted third-quarter loss of 12 centers per share, a record revenue of $268 million and a solid fourth-quarter guidance are winning out, for now. Rocket Lab's total backlog jumped 522% quarter-over-quarter, though the Neutron launch schedule remains an overhang.
In response, three analysts trimmed their price targets, the worst coming from Piper Sandler to $58 from $83. Clear Street hiked its target to $110 and reaffirmed its "buy" rating.
Rocket Lab stock has shed 62% since retreating from its May 27th, 52-week high of $150.99. RKLB closed above the 20-day moving average yesterday, however, for the first time in just over a month.
RKLB has seen more bullish attention in the options pit than usual. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), RGTI's 50-day call/put volume ratio of 2.87 ranks in the 82nd percentile of its annual range.
The aerospace stock also tends to outperform options traders' volatility expectations. This is per its Schaeffer's Volatility Scorecard (SVS) of 96 out of 100.
