Asana Inc. [ASAN] Is Currently 7.35 below its 200 Period Moving Avg: What Does This Mean?

Asana Inc. [NYSE: ASAN] gained 7.35% or 1.29 points to close at $18.84 with a heavy trading volume of 3609998 shares. The company report on November 17, 2022 that Asana Named a Leader in Collaborative Work Management Tools Report by Independent Research Firm.


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Asana recognized for goal-oriented approach that drives greater enterprise adoption.

Today Asana, Inc. (NYSE: ASAN) (LTSE: ASAN), a leading work management platform for organizations, was named a Leader by independent research firm Forrester in its report: The Forrester Wave™: Collaborative Work Management Tools, Q4 2022.

It opened the trading session at $17.88, the shares rose to $18.97 and dropped to $17.20, the range by which the price of stock traded the whole day. The daily chart for ASAN points out that the company has recorded -6.73% loss over the past six months. However, it is still -20.23% lower than its most recent low trading price.

If we look at the average trading volume of 4.21M shares, ASAN reached to a volume of 3609998 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 Asana Inc. [ASAN]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ASAN shares is $26.78 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ASAN stock is a recommendation set at 2.50. 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.

KeyBanc Capital Markets have made an estimate for Asana Inc. shares, keeping their opinion on the stock as Sector Weight, with their previous recommendation back on October 13, 2022. While these analysts kept the previous recommendation, Credit Suisse raised their target price to Neutral. The new note on the price target was released on September 23, 2022, representing the official price target for Asana Inc. stock. Previously, the target price had yet another raise to $26, while MoffettNathanson analysts kept a Market Perform rating on ASAN stock.

The Average True Range (ATR) for Asana Inc. is set at 1.72, with the Price to Sales ratio for ASAN stock in the period of the last 12 months amounting to 8.23. The Price to Book ratio for the last quarter was 39.25, with the Price to Cash per share for the same quarter was set at 1.17.

Trading performance analysis for ASAN stock

Asana Inc. [ASAN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -9.68. With this latest performance, ASAN shares dropped by -13.82% in over the last four-week period, additionally sinking by -6.73% over the last 6 months – not to mention a drop of -81.42% 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 ASAN stock in for the last two-week period is set at 47.22, with the RSI for the last a single of trading hit 48.17, and the three-weeks RSI is set at 46.96 for Asana Inc. [ASAN]. The present Moving Average for the last 50 days of trading for this stock 20.92, while it was recorded at 18.14 for the last single week of trading, and 27.41 for the last 200 days.

Asana Inc. [ASAN]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Asana Inc. [ASAN] shares currently have an operating margin of -70.07 and a Gross Margin at +89.72. Asana Inc.’s Net Margin is presently recorded at -76.19.

Return on Equity for this stock declined to -301.85, with Return on Assets sitting at -40.10.

Asana Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.20.

An analysis of insider ownership at Asana Inc. [ASAN]

There are presently around $1,113 million, or 57.80% of ASAN stock, in the hands of institutional investors. The top three institutional holders of ASAN stocks are: HIMENSION CAPITAL (SINGAPORE) PTE. LTD. with ownership of 7,536,622, which is approximately 78.113% of the company’s market cap and around 41.60% of the total institutional ownership; VANGUARD GROUP INC, holding 6,857,364 shares of the stock with an approximate value of $129.19 million in ASAN stocks shares; and BLACKROCK INC., currently with $118.22 million in ASAN stock with ownership of nearly -1.53% of the company’s market capitalization.

Positions in Asana Inc. stocks held by institutional investors increased at the end of December and at the time of the December reporting period, where 116 institutional holders increased their position in Asana Inc. [NYSE:ASAN] by around 12,822,569 shares. Additionally, 113 investors decreased positions by around 8,089,780 shares, while 52 investors held positions by with 38,171,760 shares. The mentioned changes placed institutional holdings at 59,084,109 shares, according to the latest SEC report filing. ASAN stock had 45 new institutional investments in for a total of 2,095,203 shares, while 39 institutional investors sold positions of 3,106,580 shares during the same period.

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