AST SpaceMobile and Rocket Lab USA shares are heavily shorted despite recent gains
When it comes to space exploration stocks, most investors are already familiar with Intuitive Machines (LUNR). The company recently secured a $4.8 billion contract with the National Aeronautics and Space Administration (NASA), despite its moon lander Odysseus tipping over earlier this year.
For those looking to get in on the sector, AST SpaceMobile Inc (NASDAQ:ASTS) and Rocket Lab USA Inc (NASDAQ:RKLB) are two alternatives to LUNR that boast plenty of upside opportunity.
ASTS was last seen trading near breakeven at $24.39, but amassed a whopping 558.8% lead in the last 12 months. While the security has been taking a breather from its Aug. 21, record high of $39.08, a floor at the $24 level is keeping this pullback in check, and the 60-day moving average looks ready to contain additional losses.
RKLB is up 1.6% to trade at $8.76 at last glance, and earlier scored a fresh two-year high of $8.98. The stock bounced off the 40-day moving average earlier this month, and is now up 58% in 2024.
Both equities could benefit from a short squeeze, which would provide tailwinds. Short interest has been on the rise for ASTS and RKLB over the most recent reporting period, and now accounts for 27.9% and 13.7% of their available floats, respectively.