For Astra Space Operations Inc. [ASTR], Analyst sees a rise to $4. What next?

Astra Space Operations Inc. [NASDAQ: ASTR] loss -2.71% on the last trading session, reaching $0.75 price per share at the time. The company report on August 29, 2022 that Astra Announces Spacecraft Engine Contract with Airbus OneWeb Satellites.


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Astra Space, Inc. (“Astra”) (Nasdaq: ASTR), a provider of space products and launch services to the global space industry, today announced that it has been selected by Airbus OneWeb Satellites, LLC (“AOS”) to supply the Astra Spacecraft Engine™ for integration into the portfolio of Arrow commercial small satellites manufactured by AOS.

Airbus OneWeb Satellites LLC is a joint venture between Airbus and OneWeb. AOS manufactures satellites for the OneWeb commercial constellation and Airbus customers in Merritt Island, Florida. AOS is producing satellites for Airbus U.S. Space & Defense, Inc., in support of U.S. government programs.

Astra Space Operations Inc. represents 264.56 million in outstanding shares, while the company has a total market value of $205.79 million with the latest information. ASTR stock price has been found in the range of $0.72 to $0.79.

If compared to the average trading volume of 5.47M shares, ASTR reached a trading volume of 24568198 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 Operations Inc. [ASTR]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ASTR shares is $1.35 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 Operations 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 Operations 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 Operations Inc. is set at 0.11, with the Price to Sales ratio for ASTR stock in the period of the last 12 months amounting to 31.18. The Price to Book ratio for the last quarter was 0.66, with the Price to Cash per share for the same quarter was set at 0.73.

Trading performance analysis for ASTR stock

Astra Space Operations Inc. [ASTR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.52. With this latest performance, ASTR shares dropped by -43.64% in over the last four-week period, additionally sinking by -81.45% over the last 6 months – not to mention a drop of -92.00% 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 32.44, with the RSI for the last a single of trading hit 31.18, and the three-weeks RSI is set at 33.91 for Astra Space Operations Inc. [ASTR]. The present Moving Average for the last 50 days of trading for this stock 1.2011, while it was recorded at 0.7831 for the last single week of trading, and 3.4655 for the last 200 days.

Astra Space Operations 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 Operations 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 Operations Inc. [ASTR]

There are presently around $73 million, or 46.30% 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 1.90% of the total institutional ownership; STATE STREET CORP, holding 17,889,743 shares of the stock with an approximate value of $13.42 million in ASTR stocks shares; and BLACKROCK INC., currently with $8.45 million in ASTR stock with ownership of nearly 229.306% of the company’s market capitalization.

Positions in Astra Space Operations Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 68 institutional holders increased their position in Astra Space Operations Inc. [NASDAQ:ASTR] by around 21,136,552 shares. Additionally, 46 investors decreased positions by around 13,521,716 shares, while 29 investors held positions by with 62,498,794 shares. The mentioned changes placed institutional holdings at 97,157,062 shares, according to the latest SEC report filing. ASTR stock had 33 new institutional investments in for a total of 3,102,044 shares, while 21 institutional investors sold positions of 8,119,038 shares during the same period.

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