Astra Space Inc. (ASTR) continues to dip pre-market, falling a further -5.93% compared to -4.40% at its close on November 18. At the previous day’s close, the stock had a value of $9.78, which fell down to $9.20 in pre-market today. Intraday trading volume was 6.24 million, where the stock saw a high of $10.22 and a low of $9.23. Moreover, the 52-week range of the stock is $7.34 to $22.47, with an average volume of 3.49 million. In the past five days, ASTR gained 0.62% while losing 3.26% year to date. The continued downtrend in the stock seems to be investors’ fret over ASTR’s upcoming space launch.
Astra Space Inc. (ASTR) is a California-based, rocket launch startup that provides satellite delivery service and launch service.
ASTR’s Space Launch
Astra Space Inc. (ASTR) is preparing to test its LV0007 rocket this Saturday. Previously, ASTR announced two potential launch windows for the mission: 1) Oct. 27 to Oct. 31 and 2) Nov. 5 to Nov. 12. The company lost the first window of launch due to incomplete preparations. Astra was still unable to attempt a launch on its early Friday window. Now, the next window for the launch opens at midnight Eastern Time on Saturday. Given the so many missed windows, it is still unclear if Astra will be able to avail the upcoming launch window.
As per the mission, the ASTR plans to launch its LV0007 from Pacific Spaceport Complex on Alaska’s Kodiak Island. The window for possible space launch will open at 12 am EST.
While the many missed launch windows are a reason for investors to fret, the previous failed launch attempt of Astra’s LV0006 is also a cause.
Previous Failed Launch
On August 28, ASTR attempted the launch of its LV0006, which failed miserably. The LV0006 carrying a dummy payload on a test flight for the U.S. military was launched from the Pacific Spaceport Complex. Just after 2.5 minutes of lift off the flight was terminated as the LV0006’s one engine was compromised. Later it was identified that the main cause for the failure of the engine was an issue with the propellant distribution system.
While the ASTR now promises to have fixed the previous issue for LV0007, it is still unclear if it will attempt the liftoff or succeed for the matter.
Q3 Financial Highlights
On November 11, Astra Space Inc. (ASTR) announced its third-quarter financial results for 2021. In the third quarter ended September 30, the company’s GAAP net loss was $16.2 million, while the adjusted net loss was $34.5 million. Subsequently, the net loss per basic and diluted share was $0.06 for Q3 2021. Furthermore, the adjusted EBITDA loss for the quarter stood at $32.9 million.
As of September 30, 2021, the company had cash and cash equivalents of $378.7 million.
