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Astra Space Inc. (NASDAQ: ASTR) Has Been Trading Down. What Are The Prospects For The Future?

Astra Space Inc. (NASDAQ:ASTR) traded at $0.62 at close of the session on Tuesday, 01/24/23, made a downward move of -2.90% on its previous day’s price.

Looking at the stock we see that its previous close was $0.64 and the beta (5Y monthly) reads 2.15 with the day’s price range being $0.62 – $0.645. In terms of its 52-week price range, ASTR has a high of $6.00 and a low of $0.41. The company’s stock has gained about 41.42% over that past 30 days.

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Astra Space Inc. has a market cap of $155.83 million and is expected to release its quarterly earnings report on Mar 29, 2023 – Apr 03, 2023. Estimates by analysts give the company expected earnings per share (EPS) of -$0.18, with the EPS growth for the year raised at -$0.84 for 2022 and -$0.44 for next year. These figures represent 89.30% and 47.60% growth in EPS for the two years respectively.

Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $2.72 million, with a low of $2.72 million and a high of $2.72 million.

There have been no upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the ASTR stock, short term indicators assign the stock an average of Hold, while medium term indicators assign it an average of 50% Sell. Long term indicators on average place the stock in the category of 50% Sell.

Looking further, we note the current price level is 23.84% off its SMA20 and 23.78% from its 50-day simple moving average. The RSI (14) is pointing at 62.35 while the volatility over the past week is 9.66% and jumps to 8.37% over the past one month. The average price target for the stock over the next 12 months is $0.30, with the estimates having a low of $0.30 and a high of $0.30. These price ends are 51.61% and 51.61% off the current price level respectively, although investors could be excited at the prospect of a 51.61% if the ASTR share price touches on the median price of $0.30.

Coming back to Astra Space Inc. (NASDAQ:ASTR), we note that the average 3-month trading volume was 2.16 million, while that of the preceding 10-day period stands at 2.55 million. Current shares outstanding are 266.33 million.

The insiders hold 2.50% of the company’s shares while institutions hold 44.00%. The data shows that short shares as of Oct 13, 2022, stood at 24.36 million at a short ratio of 4.43. This represents a 9.18% short interest in shares outstanding on Oct 13, 2022. Shares short fall in October from the previous month at 26.33 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock 42.92% up in year-to-date price movement.

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