In this article

Astra CEO Chris Kemp speaks inside the company’s headquarters during the company’s “Spacetech Day” on May 12, 2022.
Brady Kenniston / Astra

Spacecraft engine manufacturer and small rocket builder Astra announced on Friday that the company is investigating “potential illegal short selling” among shareholders of its common stock.

The company said it hired financial software firm ShareIntel to assist with its review of “suspicious, aberrant or unusual trading activity.”

“Astra remains committed to protecting our investors and maximizing stockholder value,” Chairman and CEO Chris Kemp said in a statement.

Sign up here to receive weekly editions of CNBC’s Investing in Space newsletter.

The announcement comes as Astra faces a delisting deadline issued by the Nasdaq last year. With shares at 47 cents as of Friday’s open, Astra has until April 4 for its stock price to return above $1 a share for at least ten consecutive business days, or it would receive a Nasdaq delisting notice. If that happens, Astra is able to appeal the delisting before a Nasdaq hearings panel.

Astra is expected to report fourth-quarter results after market close on Mar. 30.

You May Also Like

Paramount Global PARA stock jumps for second straight day

Tom Ryan, CEO and President of Paramount Streaming, speaks during the LG…

Ford reports worst quarterly sales in China since onset of Covid pandemic

In this article F Visitors walk past a Ford Escape Titanium at…

CDC shortens Covid social distancing guidelines for kids in school to 3 feet with masks

Giani Clarke,18, a senior at Wilson High School, takes a test in…

Southwest offers staff extra pay, frequent flyer miles to avoid holiday travel disruptions

In this article LUV A baggage handler pushes a bag near a…