Astra Space Inc. [ASTR] Revenue clocked in at $3.90 million, down -77.34% YTD: What’s Next?

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Astra Space Inc. [NASDAQ: ASTR] traded at a high on 06/23/22, posting a 1.29 gain after which it closed the day’ session at $1.57. 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 results of the trading session contributed to over 3645131 shares changing hands. Over the past one week, the price volatility of Astra Space Inc. stands at 6.80% while the volatility over the past one month is 7.30%.

The market cap for ASTR stock reached $391.82 million, with 263.65 million shares outstanding and 171.07 million shares in the current float. Compared to the average trading volume of 3.71M shares, ASTR reached a trading volume of 3645131 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $4.35 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 0.18, with the Price to Sales ratio for ASTR stock in the period of the last 12 months amounting to 100.47. The Price to Book ratio for the last quarter was 1.12, with the Price to Cash per share for the same quarter was set at 1.02.

How has ASTR stock performed recently?

Astra Space Inc. [ASTR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.85. With this latest performance, ASTR shares dropped by -35.66% in over the last four-week period, additionally sinking by -80.69% over the last 6 months – not to mention a drop of -85.71% 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 29.11, with the RSI for the last a single of trading hit 27.34, and the three-weeks RSI is set at 31.30 for Astra Space Inc. [ASTR]. The present Moving Average for the last 50 days of trading for this stock 2.6752, while it was recorded at 1.5820 for the last single week of trading, and 5.8819 for the last 200 days.

Astra Space Inc. [ASTR]: Deeper insight into the fundamentals

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 7.20 and a Current Ratio set at 7.40.

Insider trade positions for Astra Space Inc. [ASTR]

There are presently around $139 million, or 43.70% of ASTR stock, in the hands of institutional investors. The top three institutional holders of ASTR stocks are: ACME, LLC with ownership of 29,450,015, which is approximately 0% of the company’s market cap and around 2.10% of the total institutional ownership; STATE STREET CORP, holding 17,422,886 shares of the stock with an approximate value of $27.0 million in ASTR stocks shares; and CANAAN PARTNERS X LLC, currently with $10.81 million in ASTR stock with ownership of nearly -57.709% of the company’s market capitalization.

Positions in Astra Space Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 69 institutional holders increased their position in Astra Space Inc. [NASDAQ:ASTR] by around 23,452,103 shares. Additionally, 50 investors decreased positions by around 16,320,537 shares, while 17 investors held positions by with 49,770,379 shares. The mentioned changes placed institutional holdings at 89,543,019 shares, according to the latest SEC report filing. ASTR stock had 34 new institutional investments in for a total of 4,328,668 shares, while 25 institutional investors sold positions of 2,221,592 shares during the same period.

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