BofA Securities slashes price target on Astra Space Inc. [ASTR] – find out why.


Astra Space Inc. [NASDAQ: ASTR] loss -2.60% or -0.18 points to close at $6.75 with a heavy trading volume of 7430723 shares. The company report on January 3, 2022 that Astra Announces the Results of the Completed Redemption of all Outstanding Public and Private Warrants..

Astra Space, Inc. (“Astra” or the Company”) (Nasdaq: ASTR) today announced the results of the completed redemption (the “Redemption”) of all of its outstanding public warrants (the “Public Warrants”) and private warrants (the “Private Warrants” and together with the Public Warrants, the “Warrants”) to purchase shares of the Company’s Class A common stock, par value $0.0001 per share (the “Class A Common Stock”), that were issued under the Warrant Agreement, dated August 4, 2020 (the “Warrant Agreement”), by and between the Company and Continental Stock Transfer & Trust Company (“CST”), as warrant agent. The Public Warrants were issued as part of the units sold in the Company’s initial public offering (the “Offering”). The Private Warrants were issued in private placement that was conducted simultaneously with the Offering.

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On November 26, 2021, the Company issued a press release stating that it would redeem all of the Warrants that remained outstanding following 5:00 p.m. New York City time on December 27, 2021 (the “Redemption Date”), for a redemption price of $0.10 per Public Warrant (the “Redemption Price”).

It opened the trading session at $6.9036, the shares rose to $6.95 and dropped to $6.32, the range by which the price of stock traded the whole day. The daily chart for ASTR points out that the company has recorded -45.87% loss over the past six months. However, it is still -11.75% lower than its most recent low trading price.

If we look at the average trading volume of 4.88M shares, ASTR reached to a volume of 7430723 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Astra Space Inc. [ASTR]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ASTR shares is $11.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ASTR stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BofA Securities have made an estimate for Astra Space Inc. shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on October 04, 2021. While these analysts kept the previous recommendation, Deutsche Bank raised their target price to Buy. The new note on the price target was released on July 27, 2021, representing the official price target for Astra Space Inc. stock.

The Average True Range (ATR) for Astra Space Inc. is set at 0.67 The Price to Book ratio for the last quarter was 3.99, with the Price to Cash per share for the same quarter was set at 1.47.

Trading performance analysis for ASTR stock

Astra Space Inc. [ASTR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -15.73. With this latest performance, ASTR shares dropped by -34.15% in over the last four-week period, additionally sinking by -45.87% over the last 6 months – not to mention a drop of -33.82% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ASTR stock in for the last two-week period is set at 30.57, with the RSI for the last a single of trading hit 25.69, and the three-weeks RSI is set at 34.68 for Astra Space Inc. [ASTR]. The present Moving Average for the last 50 days of trading for this stock 9.32, while it was recorded at 6.95 for the last single week of trading, and 10.06 for the last 200 days.

Astra Space Inc. [ASTR]: A deeper dive into fundamental analysis

Reflecting on the efficiency of the workforce at the company, Astra Space Inc. [ASTR] managed to generate an average of -$2,447,424 per employee.Astra Space Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 11.10 and a Current Ratio set at 11.30.

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An analysis of insider ownership at Astra Space Inc. [ASTR]

There are presently around $524 million, or 37.40% of ASTR stock, in the hands of institutional investors. The top three institutional holders of ASTR stocks are: SHERPACAPITAL, LLC with ownership of 29,450,003, which is approximately New of the company’s market cap and around 2.00% of the total institutional ownership; CANAAN PARTNERS X LLC, holding 20,689,668 shares of the stock with an approximate value of $143.38 million in ASTR stocks shares; and LIGHT STREET CAPITAL MANAGEMENT, LLC, currently with $45.21 million in ASTR stock with ownership of nearly 117.485% of the company’s market capitalization.

Positions in Astra Space Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 74 institutional holders increased their position in Astra Space Inc. [NASDAQ:ASTR] by around 69,900,102 shares. Additionally, 25 investors decreased positions by around 8,036,044 shares, while 3 investors held positions by with 2,340,132 shares. The mentioned changes placed institutional holdings at 75,596,014 shares, according to the latest SEC report filing. ASTR stock had 55 new institutional investments in for a total of 62,717,793 shares, while 18 institutional investors sold positions of 7,630,009 shares during the same period.