Astra Space Inc. [ASTR] stock Downgrade by BofA Securities analyst, price target now $4

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Astra Space Inc. [NASDAQ: ASTR] loss -1.19% on the last trading session, reaching $4.14 price per share at the time. The company report on March 17, 2022 that Astra Reschedules Fourth Quarter and Year End 2021 Financial Results to March 31, 2022.


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Astra Space, Inc. (“Astra”) (Nasdaq: ASTR), today announced it has rescheduled the earnings announcement for the fourth quarter and year ended December 31, 2021, from today after market close to Thursday, March 31, 2022, after market close to coincide with the filing of its Form 10-K for the year ended December 31, 2021 (the “Annual Report”). Astra will host the rescheduled conference call at 1:30pm PT (4:30pm ET) on Thursday, March 31, 2022, to discuss its financial results.

Astra currently expects fourth quarter and year ended 2021 financial results to meet or be more favorable than previously issued guidance. Additionally, cash and cash equivalents are expected to be approximately $325 million as of December 31, 2021.

Astra Space Inc. represents 258.27 million in outstanding shares, while the company has a total market value of $1.09 billion with the latest information. ASTR stock price has been found in the range of $4.085 to $4.40.

If compared to the average trading volume of 7.52M shares, ASTR reached a trading volume of 4957708 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 $5.50 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 3.00. 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 February 11, 2022. While these analysts kept the previous recommendation, BofA Securities dropped their target price from $9 to $7. The new note on the price target was released on January 19, 2022, representing the official price target for Astra Space Inc. stock. Previously, the target price had yet another raise to $9, while BofA Securities analysts kept a Underperform rating on ASTR stock.

The Average True Range (ATR) for Astra Space Inc. is set at 0.36 The Price to Book ratio for the last quarter was 2.45, with the Price to Cash per share for the same quarter was set at 1.44.

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 -1.43. With this latest performance, ASTR shares gained by 21.41% in over the last four-week period, additionally sinking by -51.86% over the last 6 months – not to mention a drop of -64.89% 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 52.09, with the RSI for the last a single of trading hit 54.36, and the three-weeks RSI is set at 48.56 for Astra Space Inc. [ASTR]. The present Moving Average for the last 50 days of trading for this stock 4.07, while it was recorded at 4.14 for the last single week of trading, and 8.16 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.

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

There are presently around $345 million, or 41.20% of ASTR stock, in the hands of institutional investors. The top three institutional holders of ASTR stocks are: ACME, LLC with ownership of 29,450,003, which is approximately 0% of the company’s market cap and around 2.20% of the total institutional ownership; CANAAN PARTNERS X LLC, holding 16,489,668 shares of the stock with an approximate value of $69.09 million in ASTR stocks shares; and STATE STREET CORP, currently with $24.46 million in ASTR stock with ownership of nearly 1411.386% 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 75 institutional holders increased their position in Astra Space Inc. [NASDAQ:ASTR] by around 16,708,647 shares. Additionally, 42 investors decreased positions by around 9,890,852 shares, while 10 investors held positions by with 55,813,017 shares. The mentioned changes placed institutional holdings at 82,412,516 shares, according to the latest SEC report filing. ASTR stock had 45 new institutional investments in for a total of 6,407,893 shares, while 23 institutional investors sold positions of 2,609,918 shares during the same period.

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