Deutsche downgrades Astra Space, ‘growing increasingly concerned’

Deutsche Bank analyst Edison Yu downgraded Astra Space to Hold from Buy with a price target of $1, down from $2. The analyst is "growing increasingly concerned" about Astra Space’s launches, where the firm sees the probability of success as low. To have a real chance at bringing its next-generation rocket to market, Astra will need to raise further capital before year-end or drastically reduce headcount, the analyst tells investors in a research note. The firm is not clear what the cost profile or reliability of Astra’s larger rocket and says it will be challenging to get any real clarity making that determination until after several launches occur.