Market Analysts see Astra Space Inc. [ASTR] gaining to $4. Time to buy?

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Astra Space Inc. [NASDAQ: ASTR] closed the trading session at $2.43 on 05/10/22. The day’s price range saw the stock hit a low of $2.37, while the highest price level was $2.78. The company report on May 5, 2022 that Astra Announces First Quarter 2022 Financial Results.

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Astra Space, Inc. (“Astra”) (Nasdaq: ASTR) today announced financial results for its first quarter ended March 31, 2022.

“This has been a quarter of accelerating investment, customer adoption of our space technology products, and growth in our customer pipeline,” said Chris Kemp, Astra’s Co-founder, Chairman and CEO. “Looking ahead, Astra is honored to have the opportunity to serve NASA to further our vision for a healthier and safer planet as we prepare for a multi-launch campaign out of Cape Canaveral to deploy the NASA TROPICS constellation.”.

The stocks have a year to date performance of -64.94 percent and weekly performance of -25.00 percent. The stock has been moved at -75.68 percent over the last six months. The stock has performed -33.61 percent around the most recent 30 days and changed -50.61 percent over the most recent 3-months.

If compared to the average trading volume of 5.85M shares, ASTR reached to a volume of 5691977 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 $5.00 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 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 0.27 The Price to Book ratio for the last quarter was 1.44, with the Price to Cash per share for the same quarter was set at 0.59.

ASTR stock trade performance evaluation

Astra Space Inc. [ASTR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -25.00. With this latest performance, ASTR shares dropped by -33.61% in over the last four-week period, additionally sinking by -75.68% over the last 6 months – not to mention a drop of -75.70% 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 26.19, with the RSI for the last a single of trading hit 19.76, and the three-weeks RSI is set at 31.01 for Astra Space Inc. [ASTR]. The present Moving Average for the last 50 days of trading for this stock 3.67, while it was recorded at 2.96 for the last single week of trading, and 7.05 for the last 200 days.

Astra Space Inc. [ASTR]: An insightful look at the core fundamentals

Astra Space Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 7.20 and a Current Ratio set at 7.40.

Astra Space Inc. [ASTR]: Insider Ownership positions

There are presently around $197 million, or 40.20% 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 6,973,659 shares of the stock with an approximate value of $18.76 million in ASTR stocks shares; and STATE STREET CORP, currently with $15.7 million in ASTR stock with ownership of nearly 1411.386% of the company’s market capitalization.

71 institutional holders increased their position in Astra Space Inc. [NASDAQ:ASTR] by around 13,160,986 shares. Additionally, 38 investors decreased positions by around 15,109,948 shares, while 18 investors held positions by with 45,013,825 shares. The mentioned changes placed institutional holdings at 73,284,759 shares, according to the latest SEC report filing. ASTR stock had 38 new institutional investments in for a total of 3,281,738 shares, while 22 institutional investors sold positions of 2,609,913 shares during the same period.