Cathie Wood Just Made Another Big Bet on Rocket Lab

Rocket Lab USA ( RKLB , Financials ), is drawing fresh attention after Cathie Wood's ARK Invest bought another 359,612 shares worth about $25.1 million, adding to its recent purchases of the space company.

The latest buying came across ARK's Innovation, Autonomous Technology & Robotics, and Space Exploration & Innovation ETFs. Earlier this month, ARK also bought 200,303 Rocket Lab shares worth about $12.8 million.

The timing is notable. The Wall Street Journal recently reported that SpaceX has stopped selling new Falcon 9 rideshare missions, while some companies are struggling to secure launches beyond 2028. If launch capacity remains tight, Rocket Lab could have more opportunities to win customers.

Rocket Lab is also preparing for its 97th Electron launch on Sept. 25. The mission will carry a StriX satellite for Japanese Earth-imaging company Synspective into low-Earth orbit and would mark the company's fourth Electron launch in 25 days.

The bigger piece of Rocket Lab's growth story remains Neutron, its planned larger launch vehicle. Cantor Fitzgerald analyst Andres Sheppard has a $122 price target and sees Neutron's first launch as a key catalyst, alongside Rocket Lab's planned acquisition of Iridium.

TipRanks says 14 analysts rate RKLB Buy and three rate it Hold, with an average price target of $109.47.

The next catalyst is Friday's Electron launch, followed by further progress toward Neutron's first flight.