Astra Space Deploys Customers’ Satellite in Partnership with Spaceflight, ASRT Stock Below IPO Price

UTC by Steve Muchoki · 3 min read
Astra Space Deploys Customers’ Satellite in Partnership with Spaceflight, ASRT Stock Below IPO Price
Photo: Astra / Twitter

The partnership between Astra Space and Spaceflight helps both companies speed up their mission to successfully deploy satellites to space.

Astra Space Inc (NASDAQ: ASTR) stock traded around $3.50, up approximately 0.29 percent, during Tuesday’s after-hours. Following February’s Astra Rocket LV0008 failure, the company has now successfully launched customers satellites in partnership with Spaceflight Inc.

Earlier this week, Astra Space had announced a multi-launch contract with Spaceflight. Whereby the first launch under the contract was scheduled for, March 14, 2022, that ostensibly successfully deployed in space.

“The payloads have started to communicate with ground stations. Our customers are calling us and indicating that satellites are alive – they’re talking, which means they’ve been successfully deployed. The flight was nominal,” noted Chris Kemp, the company’s CEO.

Astra Space and Spaceflight Deal

The partnership between Astra Space and Spaceflight helps both companies speed up their mission to successfully deploy satellites to space. Moreover, the space program venture has a tremendous future use case and competitiveness puts private companies alert.

“We continuously look for opportunities to provide our customers access to flexible and reliable options to get to orbit,” said Curt Blake, CEO, and president of Spaceflight Inc. “By expanding our launch partner portfolio to include Astra, we can increase the launch opportunities available to our customers. Astra’s willingness to explore creative launch solutions and shared dedication to customer success makes them a great partner.”

With the increasingly changing climate around the world, real-time monitoring is needed to help climate-reliant investors like large-scale farmers. While both companies expand that horizon of their customers through the partnership, it is expected prices for satellite launches might decline following economies of scale.

“We are thrilled to partner with Spaceflight, which shares our customer-focused approach,” said Martin Attiq, Chief Business Officer at Astra. “We look forward to working together to make getting to space more efficient, frequent, and affordable than ever.”

ASTR Stock and the Market Outlook

The company’s stock market has been on the decline for the past year. According to market data provided by MarketWatch, ASTR stock has dropped approximately 73.36 percent, 49.65 percent, and 60.25 percent in the past year, YTD, and three months respectively through Tuesday.

The space venture company has a market valuation of approximately $906.69 million and 202.08 million shares outstanding.

In the past 52 weeks, ASTR shares have ranged between $2.87 and $16.95.

According to a survey conducted by MarketWatch, the company’s stock market received an average rating of Hold from 2 ratings. Whereby the two ratings gave an average target price of $5.5.

Notably, Spaceflight’s Astra-1, took three Spaceflight customers, including Portland State Aerospace Society and NearSpace Launch, to a 525 km circular sun-synchronous orbit.

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