Rocket Lab (NASDAQ: RKLB) shares fell 9.8% in the morning session after the company, in an SEC filing, moved the target date for the inaugural launch of its Neutron rocket to 2027 as development and manufacturing and testing milestones continue. Aviation Week reported that CEO Peter Beck cited issues with first-stage propellant tank manufacturing on the carbon-composite vehicle. The stock is down 29.9% year to date at $53.25 per share, 64.6% below its 52-week high of $150.23 from May 2026. Seven days earlier, the stock had dropped 4.4% as Middle East escalation pushed crude oil up more than 5% and the 10-year Treasury yield near 5.35%. The stock has had 85 moves greater than 5% over the past year.
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Rocket Lab (RKLB) pushed back the arrival of its Neutron reusable rocket at the launchpad to 2027, from the fourth quarter of 2026 previously, after finding a propellant dome manufacturing issue that the company says it has since resolved. Shares fell as much as 16% and were down 9.8% at 1:48 p.m. ET, after KeyBanc cut its price target to $100 from $135 and Clear Street cut its target to $105 from $129, with both keeping their ratings. Based on the $59.18 close the previous day, the $100 and $105 targets imply upside of 69% and 77%. The article notes Rocket Lab ended the second quarter of 2026 with a record backlog of $2.36 billion, pointing to strong demand for its launch services.
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