Astrotech Corp. (ASTC) Shares Jump On NASA Contract

Shares of Houston-based Astrotech Corp. (ASTC) spiked as high as 43 percent in early trading Monday on the news that the commercial aerospace services co. inked a NASA contract valued at $9.5 million.

Astrotech announced that NASA awarded its subsidiary Astrotech Space Operations a new contract for payload processing services for expendable launch vehicles and evolved expendable launch vehicles from Cape Canaveral Air Force Station at the Eastern Range in Florida. The contract stipulates that the multi-mission contract services are targeted to begin in fiscal year 2011 running through 2013.

“We look forward to continuing our relationship with NASA in support of missions at the Eastern Range,” Astrotech Chairman and CEO Thomas B. Pickens III said in a statement. “We are proud of our capabilities and facilities, and look forward to providing NASA with a full complement of processing and facility services.”

Shares of Astrotech are up on the session by 40.32%, currently trading at $1.81 after hitting a high of $1.93 earlier in the day. ASTC shares have traded between $1.07 and $4.06 over the last 52 weeks.

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