OHB Shares Surge to New High on Strong Order Backlog
OHB shares have resumed their upward trajectory, surging 15 percent on Thursday to set a new record high. This rally follows a brief pause earlier in the week.
The space technology company's share price has been boosted by a burgeoning order backlog, now exceeding three billion euros, which could keep the company busy for the next three years. Looking ahead, OHB's revenue is poised to grow significantly, fuelled by the increasing demand for an independent European satellite constellation.
Investors are eagerly awaiting OHB's quarterly results on November 13, with a keen eye on the company's outlook for the coming quarters. Meanwhile, Germany and its European partners have plans to invest 35 billion euros in space projects by 2030, presenting OHB with a promising opportunity to secure a substantial portion of this investment.
OHB's share price continues to rise, driven by a robust order backlog and promising growth prospects. The company's upcoming quarterly figures and the potential for significant investment in European space projects are likely to keep the market's attention on OHB in the coming months.
