Astra Space Inc. (ASTR): Technicals Say You should Hold

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Astra Space Inc. (NASDAQ:ASTR) saw a downside of -1.28% to $0.63 after subtracting -$0.01 on Tuesday. The 5-day average trading volume is 2,039,828 shares of the company’s common stock. It has gained $0.7400 in the past week and touched a new high 1 time within the past 5 days. An average of 1,950,242 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 2,165,403.

ASTR’s 1-month performance is 56.34% or $0.1791 on its low of $0.4052 reached on 12/28/22. The company’s shares have touched a 52-week low of $0.41 and high of $6.00, with the stock’s rally to the 52-week high happening on 01/18/23. YTD, ASTR has achieved 47.19% or $0.1964 and has reached a new high 7 times. However, the current price is down -89.50% from the 52-week high price.

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Insider Transactions

ASTR stock investors last saw insider trading activity on Dec 16.A/NPC Holdings LLC (former 10% owner) most recently sold 1,400,000 shares at $1.39 per share on Aug 16. This transaction cost the insider $1,946,000. former 10% owner, A/NPC Holdings LLC, sold 867,040 shares at a price of $1.46 on Aug 15. Then, on Aug 12, former 10% owner A/NPC Holdings LLC sold 2,000,000 shares at a price of $1.59 per share. This transaction amounted to $3,180,000.

Valuation Metrics

Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 17.07 while the price-to-book (PB) in the most recent quarter is 1.48.

Astra Space Inc.’s quick ratio for the period ended September 29 was 2.20, with the current ratio over the same period at 2.30. The firm’s gross profit as reported stood at $1.17 million against revenue of $159.26 million.

Earnings Surprise

For the quarterly period ending September 29 this year, Astra Space Inc.’s cash and short-term investments amounted to $82.94 million against total debt of $14.88 million. Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 91.84% to -$199.11 million, while revenue of -$82.3 million was 58.67% off the previous quarter. Analysts expected ASTR to announce -$0.18 per share in earnings in its latest quarter, but it posted -$0.26, representing a -44.40% surprise. EBITDA for the quarter stood at more than -$137.13 million. ASTR stock balance sheet for the quarter ending September 29 shows that total liabilities totaled 101.83 million, with total debt at $14.88 million. Shareholders hold equity totaling $267.47 million.

Let’s look briefly at Astra Space Inc. (ASTR) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 23 January was 66.43% to suggest the stock is trending Neutral, with historical volatility in this time period at 103.66%.

The stock’s 5-day moving average is $0.6074, reflecting a -4.25% or -$0.0280 change from its current price. ASTR is currently trading +47.48% above its 20-day SMA, -24.76% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +26.04% and SMA200 by-84.48%.

Stochastic %K and %D was 62.16% and 57.38% and the average true range (ATR) pointed at 0.0509. The RSI (14) points at 63.99%, while the 14-day stochastic is at 64.35% with the period’s ATR at 0.0481. The stock’s 9-day MACD Oscillator is pointing at 0.0246 and 0.0770 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Astra Space Inc. (NASDAQ: ASTR), BofA Securities downgraded it to an Underperform rating. They previously had a Neutral rating on the stock. Analysts offering their rating for ASTR stock have a consensus rating for the stock as Underweight. Currently, 0 brokerage advisors rate ASTR as a “sell,”, while 0 advise that investors “Hold.” 1 analysts have rated the stock as underweight. 0 rates the stock as overweight while 0 have offered a “buy” rating.

What is ASTR’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $0.30 and a high of $0.30, with their median price target at $0.30. Looking at these predictions, the average price target given by analysts is for Astra Space Inc. (ASTR) stock is $0.30.

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