Buying Buzz: Astra Space Operations Inc. [ASTR] Chief Executive Officer KEMP CHRIS acquires 100,000 shares of the company

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Astra Space Operations Inc. shares valued at $124,960 were purchased by KEMP CHRIS on Aug 19. At $1.25 per share, KEMP CHRIS acquired 100,000 shares. The insider’s holdings grew to 857,082 shares worth approximately $0.59 million following the completion of this transaction.

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Also, A/NPC Holdings LLC sold 1,400,000 shares, netting a total of over 1,946,000 in proceeds. Following the sale of shares at $1.39 each, the insider now holds 20,888,053 shares.

Before that, A/NPC Holdings LLC had sold 867,040 shares from its account. In a trade valued at $1,265,878, the former 10% owner traded Astra Space Operations Inc. shares for $1.46 each. Upon closing the transaction, the insider’s holdings decreased to 867,040 shares, worth approximately $15.38 million.

As published in a research note from BofA Securities on February 11, 2022, Astra Space Operations Inc. [ASTR] has been rated down from a Neutral to an Underperform and the price target has been revised to $4. This represents a 82.75% premium over Wednesday’s closing price. Analysts at BofA Securities upgraded the stock from ‘”an Underperform”‘ to ‘”a Neutral”‘ outlook in a report released in mid January. As of October 04, 2021, BofA Securities has initiated its “an Underperform” rating for ASTR. Earlier on July 27, 2021, Deutsche Bank initiated its rating. Their recommendation was “a Buy” for ASTR stock.

Analyzing ASTR’s Price Performance

On Wednesday, Astra Space Operations Inc. [NASDAQ: ASTR] plunged -3.60% to $0.69. The stock’s lowest price that day was $0.6901, but it reached a high of $0.7369 in the same session. During the last five days, there has been a drop of approximately -11.56%. Over the course of the year, Astra Space Operations Inc. shares have dropped approximately -89.98%. Shares of the company reached a 52-week high of $6.9500 on 01/03/22 and a 52-week low of $0.6900 on 09/20/22. A 50-day SMA is recorded $1.1632, while a 200-day SMA reached $3.3291. Nevertheless, trading volume fell to 4.43 million shares from 5.25 million shares the previous day.

Support And Resistance Levels for Astra Space Operations Inc. (ASTR)

According to the 24-hour chart, there is a support level at 0.6772, which, if violated, would cause prices to drop to 0.6602. In the upper region, resistance lies at 0.7240. The next price resistance is at 0.7538. RSI (Relative Strength Index) is 29.63 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.0532, which suggests the price will decrease in the coming days. Percent R is at 97.78%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Astra Space Operations Inc. subject to short interest?

Stocks of Astra Space Operations Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 5.64 million shares to 33.69 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 28.05 million shares. A jump of 16.74% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 8.25 of the overall float, the days-to-cover ratio (short ratio) jumped to 8.25.

Which companies own the most shares of Astra Space Operations Inc. (ASTR)?

According to SSgA Funds Management, Inc. filings, the company currently owns 17,889,743 shares, which is about 8.52% of the total ASTR shares outstanding. The investor’s shares have appreciated by 466,857 from its previous 13-F filing of 17422886.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $8,638,045. The Vanguard Group, Inc. acquire a 12.65% interest valued at $4.71 million while McKinley Capital Management LLC 0 stake. In its current portfolio, Pine Ridge Advisers LLC holds 2,116,101 shares valued at $1.81 million.

In terms of Astra Space Operations Inc. share price expectations, FactSet research, analysts set an average price target of $1.35 in the next 12 months, up nearly 87.5% from the previous closing price of $0.72. Analysts anticipate Astra Space Operations Inc. stock to reach $2.00 by 2022, with the lowest price target being $0.70. In spite of this, 2 analysts ranked Astra Space Operations Inc. stock as a Hold at the end of 2022.


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