The world’s first listed SpaceTech fund, Seraphim Space Investment Trust (SSIT), is due to report third quarter results for the three months ending 31 March 2024 on 6 June.

Seraphim shares have rallied sharply in recent months, coming off a 52-week low of 26p on 12 July last year to hit a 52-week high of 75p on 14 May after renewed investor interest in the sector.

So, what’s been grabbing investors’ attention?

For starters, aerospace and defence companies are making forays into the sector with BAE Systems (BA.) recently buying Ball Aerospace of the US, a maker of ‘mission-critical space systems’, for $5.6 billion.

Also, talk that Elon Musk’s SpaceX may carry out its next share tender at a price which could value the unlisted company around $200 billion, has raised Seraphim’s and the space sector’s profile.

Seraphim’s last set of interim results (13 March) for the six months to 31 December 2023 showed the company making three new investments and three follow-on investments.

Importantly, one of its largest holdings, micro-satellite manufacturer ICEYE, moved into a profit at the level of EBITDA (earnings before interest, taxation, depreciation and amortisation) during the period.

Analysts at Stifel believe the company’s underlying performance is healthy with ‘significant growth potential over the long term helped by tailwinds related to increased defence and climate-change prevention spending’. 

Disclaimer: The author (Sabuhi Gard) owns shares in Seraphim Space Investment Trust.

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