Rocket Lab Corporation (NASDAQ:RKLB) shares are up during Friday’s premarket session after the company was awarded a $90 million contract by the U.S. Space Force’s Space Systems Command to design and manufacture two geostationary satellites.

This contract marks Rocket Lab’s first entry into satellite production for geostationary orbit. The deal expands Rocket Lab’s capabilities in the space domain awareness sector for monitoring space objects.

Rocket Lab Wins U.S. Space Force GEO Satellite Contract

The contract will involve spacecraft assembly, integration, and testing at Rocket Lab’s Long Beach, California, facility, with mission operations conducted from its own sites.

This award signifies a transition from payload prototyping to operational space vehicle delivery, enhancing Rocket Lab’s position in the growing space market.

RKLB Technical Analysis: Momentum And Key Moving Averages

Rocket Lab has shown impressive performance over the past year, with a 12-month gain of 398.41%.

The stock is currently trading significantly above its moving averages, with the price sitting 26% above the 20-day simple moving average (SMA) of $102.06, 53.2% above the 50-day SMA of $83.96, and 93% above the 200-day SMA of $66.63.

The moving average convergence divergence (MACD) is above its signal line, indicating that downside pressure is easing and suggesting improving momentum.

How RKLB Ranks On Momentum Versus The Market

Below is the Benzinga Edge scorecard for Rocket Lab, highlighting its strengths and weaknesses compared to the broader market:

  • Momentum: Bullish (Score: 98.7) — Stock is outperforming the broader market.

The Verdict: Rocket Lab’s Benzinga Edge signal points to a momentum-driven story, suggesting strong market-beating performance. This aligns well with the recent contract win, suggesting a positive outlook as the company expands its operational capabilities.

RKLB ETF Exposure: Funds With The Biggest Weights

  • iShares U.S. Aerospace & Defense ETF (BATS:ITA): 3.27% Weight
  • SPDR S&P Aerospace & Defense ETF (NYSE:XAR): 5.66% Weight
  • ARK Autonomous Technology & Robotics ETF (BATS:ARKQ): 4.73% Weight

Significance: Because RKLB carries significant weight in these funds, any significant inflows or outflows will likely trigger automatic buying or selling of the stock.

RKLB Stock Price Activity: Rocket Lab shares were up 2.63% at $128.75 during premarket trading on Friday, according to Benzinga Pro data.

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