Astra Space’s Review Following CFO Meeting

Analysts at Deutsche Bank provided their views on Astra Space, Inc. (NASDAQ:ASTR) following their meeting with CFO Kelyn Brannon.

The analysts believe the company has clearly made progress on several fronts this year including successfully delivering its first commercial payload and winning its first major electric propulsion award with LeoStella.

Looking ahead, the analysts think the next two important developments will be the company's ability to carry out the NASA TROPICS missions (3 launches) and then transition to the bigger next-gen Rocket 4 vehicle.

The analysts lowered their price target on the company’s shares to $6 from $7 reflecting slightly lower forecasts, while maintaining their buy rating. Tactically, the analysts believe investors are not willing to give credit to the company for recent achievements given the current market backdrop and the true threshold for a re-rate of the stock is now super high, requiring demonstration of not only consistent execution but also market viability for its small launch approach.
Astra Space, Inc. View
Symbol Price %chg
RTX.BA 28737 0.79
LMT.BA 33167.5 0.31
329180.KS 153300 -1.17
012450.KS 235000 -3.62
ASTR Ratings Summary
ASTR Quant Ranking
Related Analysis

Astra Space trading 20% lower after Failed Rocket Launch

Astra Space, Inc. (NASDAQ:ASTR) stock opened more than 20% lower today as a result of the failed launch of its LV0006 vehicle. The company attempted to make its first commercial launch on Saturday, however, the rocket was unsuccessful in reaching orbit. It lost one of its five engines immediately after liftoff, hovering sideways as it was not able to amass enough power to go vertical. Eventually, the rocket was able to correct itself for two and a half minutes, but a command of engine shutdown was initiated as the trajectory was too far off course. The rocket reached an altitude of 50km and fell down into the ocean.

The company has opened an investigation and is working closely with the Federal Aviation Administration to understand the reasons for the failure. The company’s founder, chairman, and CEO Chris Kemp mentioned that they have learned a lot from this unsuccessful launch and having enough data now to start a review process and use all these relevant findings for serial 7, which is currently in production and is expected to fly soon.