Astra Space Operations Inc. [ASTR] Stock trading around $0.51 per share: What’s Next?

Astra Space Operations Inc. [NASDAQ: ASTR] stock went on a downward path that fall over -2.49% on Tuesday, amounting to a one-week price decrease of less than -22.68%. The company report on October 11, 2022 that Astra Announces Spacecraft Engine Contract with Maxar Technologies.


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Astra propulsion systems to be used in Maxar’s PLEO spacecraft platforms.

Astra Space, Inc. (“Astra”) (Nasdaq: ASTR) announced that it has reached an agreement with Maxar Technologies (“Maxar”) (TSX:MAXR) to supply Astra Spacecraft Engines™. The propulsion systems will be used in Maxar’s proliferated low Earth orbit (LEO) spacecrafts, which support a wide variety of global coverage missions, including Earth observation, communications and national security.

Over the last 12 months, ASTR stock dropped by -93.20%. The one-year Astra Space Operations Inc. stock forecast points to a potential upside of 62.22. The average equity rating for ASTR stock is currently 3.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $142.66 million, with 264.56 million shares outstanding and 202.94 million shares in the current float. Compared to the average trading volume of 5.68M shares, ASTR stock reached a trading volume of 4334141 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 0.06, with the Price to Sales ratio for ASTR stock in the period of the last 12 months amounting to 21.62. The Price to Book ratio for the last quarter was 0.45, with the Price to Cash per share for the same quarter was set at 0.72.

ASTR Stock Performance Analysis:

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 -22.68. With this latest performance, ASTR shares dropped by -39.84% in over the last four-week period, additionally sinking by -86.10% over the last 6 months – not to mention a drop of -93.20% 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 28.82, with the RSI for the last a single of trading hit 25.53, and the three-weeks RSI is set at 31.09 for Astra Space Operations Inc. [ASTR]. The present Moving Average for the last 50 days of trading for this stock 0.9423, while it was recorded at 0.5746 for the last single week of trading, and 2.7685 for the last 200 days.

Insight into Astra Space Operations Inc. Fundamentals:

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.

Astra Space Operations Inc. [ASTR] Insider Position Details

There are presently around $50 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 $9.12 million in ASTR stocks shares; and BLACKROCK INC., currently with $5.75 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 November and at the time of the November reporting period, where 67 institutional holders increased their position in Astra Space Operations Inc. [NASDAQ:ASTR] by around 21,132,601 shares. Additionally, 47 investors decreased positions by around 13,540,845 shares, while 29 investors held positions by with 62,463,394 shares. The mentioned changes placed institutional holdings at 97,136,840 shares, according to the latest SEC report filing. ASTR stock had 33 new institutional investments in for a total of 3,100,951 shares, while 22 institutional investors sold positions of 8,138,167 shares during the same period.

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