Astra Space Inc [NASDAQ: ASTR] gained 86.49% or 0.64 points to close at $1.38 with a heavy trading volume of 59232932 shares. The company report on November 6, 2023 at 4:25 PM that Astra Announces Closing of Additional Debt Financing and Waiver of Previously Announced Defaults.
Financing provided by affiliates of two early investors in Astra.
Astra Space, Inc. (“Astra”)(Nasdaq: ASTR) announced today that it has closed an initial financing with JMCM Holdings LLC (“JMCM”) and Sherpa Venture Funds II, LLP (together with JMCM, the “Investors”), affiliates of two early investors in Astra, for a total investment amount of approximately $13.4 million (the “Initial Financing”) pursuant to a reaffirmation agreement and omnibus amendment agreement dated November 6, 2023 (the “Initial Financing Agreement”). This Initial Financing is connected to Astra’s announcement in a report on Form 8-K filed with the Securities and Exchange Commission (the “SEC”) on October 23, 2023 of the execution of a non-binding term sheet (the “Term Sheet”). The Term Sheet contemplates a financing of at least $15.0 million, from the Investors and other potential investors, and up to $25.0 million (the “Proposed Financing”).
It opened the trading session at $1.27, the shares rose to $1.46 and dropped to $1.15, the range by which the price of stock traded the whole day. The daily chart for ASTR points out that the company has recorded -75.78% loss over the past six months. However, it is still -122.58% lower than its most recent low trading price.
If we look at the average trading volume of 328.73K shares, ASTR reached to a volume of 59232932 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 $15.00 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.
Deutsche Bank have made an estimate for Astra Space Inc shares, keeping their opinion on the stock as Hold, with their previous recommendation back on February 02, 2023.
The Average True Range (ATR) for Astra Space Inc is set at 0.19, with the Price to Sales ratio for ASTR stock in the period of the last 12 months amounting to 7.22. The Price to Book ratio for the last quarter was 0.91, with the Price to Cash per share for the same quarter was set at 1.45.
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 70.37. With this latest performance, ASTR shares gained by 39.39% in over the last four-week period, additionally sinking by -75.78% over the last 6 months – not to mention a drop of -84.26% 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 58.06, with the RSI for the last a single of trading hit 70.11, and the three-weeks RSI is set at 48.80 for Astra Space Inc [ASTR]. The present Moving Average for the last 50 days of trading for this stock 1.6917, while it was recorded at 0.9194 for the last single week of trading, and 5.1000 for the last 200 days.
Astra Space Inc [ASTR]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Astra Space Inc [ASTR] shares currently have an operating margin of -2812.29 and a Gross Margin at -246.74. Astra Space Inc’s Net Margin is presently recorded at -4391.01.
Return on Total Capital for ASTR is now -97.50, given the latest momentum, and Return on Invested Capital for the company is -153.79. Return on Equity for this stock declined to -158.60, with Return on Assets sitting at -122.14. When it comes to the capital structure of this company, Astra Space Inc [ASTR] has a Total Debt to Total Equity ratio set at 15.61. Additionally, ASTR Total Debt to Total Capital is recorded at 13.50, with Total Debt to Total Assets ending up at 7.36. Long-Term Debt to Equity for the company is recorded at 11.00, with the Long-Term Debt to Total Capital now at 9.51.
Reflecting on the efficiency of the workforce at the company, Astra Space Inc [ASTR] managed to generate an average of -$1,146,067 per employee. Receivables Turnover for the company is 2.62 with a Total Asset Turnover recorded at a value of 0.03.Astra Space Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.72 and a Current Ratio set at 0.90.
An analysis of Institutional ownership at Astra Space Inc [ASTR]
The top three institutional holders of ASTR stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in ASTR stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in ASTR stock with ownership which is approximately 5.7994%.