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

Astra Space Inc. [NASDAQ: ASTR] gained 22.70% or 0.32 points to close at $1.73 with a heavy trading volume of 11791199 shares. The company report on August 4, 2022 that Astra Announces Second Quarter 2022 Financial Results.

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Astra Space, Inc. (“Astra”) (Nasdaq: ASTR) today announced financial results for its second quarter ended June 30, 2022.

Astra announces that after two of its four Rocket 3.3 flights were successful, the Company will transition to the next version of its launch system and is working with customers to re-manifest all payloads onto the new launch system, designed for higher capacity, reliability, and production rate.

It opened the trading session at $1.49, the shares rose to $1.91 and dropped to $1.46, the range by which the price of stock traded the whole day. The daily chart for ASTR points out that the company has recorded -67.30% loss over the past six months. However, it is still -45.38% lower than its most recent low trading price.

If we look at the average trading volume of 3.57M shares, ASTR reached to a volume of 11791199 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 $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 0.15, with the Price to Sales ratio for ASTR stock in the period of the last 12 months amounting to 142.43. The Price to Book ratio for the last quarter was 1.02, with the Price to Cash per share for the same quarter was set at 0.63.

Trading performance analysis for ASTR stock

Astra Space Inc. [ASTR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 9.49. With this latest performance, ASTR shares gained by 27.21% in over the last four-week period, additionally sinking by -67.30% over the last 6 months – not to mention a drop of -83.94% 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 60.40, with the RSI for the last a single of trading hit 67.28, and the three-weeks RSI is set at 54.14 for Astra Space Inc. [ASTR]. The present Moving Average for the last 50 days of trading for this stock 1.5940, while it was recorded at 1.4060 for the last single week of trading, and 4.6128 for the last 200 days.

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

Return on Equity for this stock declined to -73.68, with Return on Assets sitting at -64.42.

Astra Space Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.40 and a Current Ratio set at 3.40.

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

There are presently around $142 million, or 40.50% 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 1.50% of the total institutional ownership; STATE STREET CORP, holding 17,422,886 shares of the stock with an approximate value of $30.14 million in ASTR stocks shares; and VANGUARD GROUP INC, currently with $8.66 million in ASTR stock with ownership of nearly 148.924% of the company’s market capitalization.

Positions in Astra Space Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 64 institutional holders increased their position in Astra Space Inc. [NASDAQ:ASTR] by around 22,335,020 shares. Additionally, 50 investors decreased positions by around 14,876,771 shares, while 24 investors held positions by with 44,765,529 shares. The mentioned changes placed institutional holdings at 81,977,320 shares, according to the latest SEC report filing. ASTR stock had 34 new institutional investments in for a total of 4,262,027 shares, while 25 institutional investors sold positions of 9,715,254 shares during the same period.


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