Its Stock Has Paid Off Big Time For Astra Space Inc.

Astra Space Inc. (NASDAQ: ASTR) stock jumped 6.39% on Friday to $0.60 against a previous-day closing price of $0.56. With 1.32 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.17 million shares. During the session, the Aerospace & Defense company that operates in wider Industrials sector, reached to the highest price of $0.6084 whereas the lowest price it dropped to was $0.5801. The 52-week range on ASTR shows that it touched its highest point at $6.00 and its lowest point at $0.41 during that stretch. It currently has a 1-year price target of $1.15.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ASTR was up-trending over the past week, with a rise of 6.99%, but this was up by 40.42% over a month. Three-month performance surged to 11.76% while six-month performance fell -60.01%. The stock lost -88.32% in the past year, while it has gained 37.34% so far this year. A look at the trailing 12-month EPS for ASTR yields -1.57 with Next year EPS estimates of -0.44. For the next quarter, that number is -0.14. This implies an EPS growth rate of 85.50% for this year and 61.10% for next year.

Float and Shares Shorts:

At present, 266.33 million ASTR shares are outstanding with a float of 200.03 million shares on hand for trading. On Oct 13, 2022, short shares totaled 24.36 million, which was 9.18% higher than short shares on Sep 14, 2022. In addition to Mr. Chris C. Kemp as the firm’s Founder, Pres, Chairman & CEO, Dr. Adam London serves as its Founder, CTO & Director.


Institutional Ownership:

Through their ownership of 46.31% of ASTR’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 38.89% of ASTR, in contrast to 18.62% held by mutual funds. Shares owned by individuals account for 11.13%. As the largest shareholder in ASTR with 3.98% of the stake, BlackRock Fund Advisors holds 8,423,369 shares worth 8,423,369. A second-largest stockholder of ASTR, The Vanguard Group, Inc., holds 8,348,293 shares, controlling over 3.94% of the firm’s shares. Renaissance Technologies LLC is the third largest shareholder in ASTR, holding 6,567,100 shares or 3.10% stake. With a 2.51% stake in ASTR, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 5,320,648 shares are owned by the mutual fund manager. The iShares Russell 2000 ETF, which owns about 1.66% of ASTR stock, is the second-largest Mutual Fund holder. It holds 3,508,551 shares valued at 1.52 million. Vanguard Extended Market Index Fu holds 0.80% of the stake in ASTR, owning 1,702,284 shares worth 0.74 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ASTR since 1 analysts follow the stock currently. There are 0 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 1 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With ASTR analysts setting a high price target of $0.30 and a low target of $0.30, the average target price over the next 12 months is $0.30. Based on these targets, ASTR could drop -50.0% to reach the target high and fall by -50.0% to reach the target low. Reaching the average price target will result in a decline of -50.0% from current levels.


EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. ASTR will report FY 2022 earnings on 02/28/2024. Analysts have provided yearly estimates in a range of -$1.52 being high and -$1.52 being low. For ASTR, this leads to a yearly average estimate of -$1.52. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Astra Space Inc. surprised analysts by $0.01 when it reported -$0.17 EPS against a consensus estimate of -$0.18. The surprise factor in the prior quarter was -$0.05. Based on analyst estimates, the high estimate for the next quarter is -$0.14 and the low estimate is -$0.14. The average estimate for the next quarter is thus -$0.14.

Summary of Insider Activity:

Insiders traded ASTR stock several times over the past three months with 1 Buys and 6 Sells. In these transactions, 250,000 shares were bought while 1,234,494 shares were sold. The number of buy transactions has increased to 7 while that of sell transactions has risen to 22 over the past year. The total number of shares bought during that period was 686,352 while 6,128,332 shares were sold.

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