Last month's failure was the the second for Astra Space ( ASTR) since August when one of the company's rocket engines failed about a second into a launch while carrying a test payload for the U.S. "We think this will help sentiment on the stock but the company likely needs to put together a string of successful launches for a meaningful re-rating." 0411 Comments Astra Space plans for reverse stock split, may sell more. "The launch took off from Kodiak, AK and added some credibility to the company's ability to execute," Deutsche Bank analyst Edison Yu, who has a buy rating and $7 price target on ASTR wrote in a note. Astra Space slashes 25 of workforce, delays debut of new rocket.
ASTR shares have dropped more than 30% since the day before the failed launch last month. A livestream of launch from Cape Canaveral at the time indicated the flight suffered an anomaly. 10 when a launch mission failed and the rocket was unable to deliver its payload to orbit. Great news for their program and return to flight," Kemp tweeted.Īstra Space shares plunged 26% on Feb. saw its stock price jump to more than 14 a share after the announcement Tuesday. "We have great news: the payloads are communicating with ground stations, the satellites have been successfully deployed! Flight went nominally. Astra, a US-based rocket startup aiming to build cheap rockets to haul satellites to space. In 2024, Astra hopes to have a rocket twice as big as Rocket Labs Electron. The satellites were successfully deployed, CEO Chris Kemp tweeted. Real time Astra Space (ASTR) stock price quote, stock graph, news & analysis. The stock was earlier temporality halted before it resumed trading and was gyrating as investors monitored the launch.Īn Astra ( ASTR) Rocket 3.3 carrying three payload launched from Pacific Spaceport Complex on Alaska's Kodiak Island starting at 12:22pm EST for its first flight in a multi-launch contract with Spaceflight.
It was ASTR's first launch since a mission last month ended in failure. As of 3:40 ET, stock prices were down to 3.59 a share, 33 percent lower than yesterday’s closing price of 5.29.
#Astra rocket stock price update#
Update 1:30pm: Updates to show latest developments on launch.Īstra Space (NASDAQ: ASTR) fell less than 1% after the company said the satellites were deployed successfully. Astra's stock shed more than 10 of its value, and trading was briefly halted. Astra’s stock tumbled sharply on Thursday as the launch failure became apparent.
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