Astronics Co. (NASDAQ:ATRO) Short Interest Down 21.5% in May

Astronics Co. (NASDAQ:ATRO) saw a large decrease in short interest in May. As of May 31st, there was short interest totalling 433,100 shares, a decrease of 21.5% from the May 15th total of 551,800 shares. Based on an average trading volume of 119,100 shares, the short-interest ratio is currently 3.6 days.

Astronics Price Performance

Shares of Astronics stock traded down $0.36 during midday trading on Friday, hitting $18.42. The company had a trading volume of 603,004 shares, compared to its average volume of 109,278. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.27 and a current ratio of 2.59. The company has a fifty day simple moving average of $18.59 and a 200 day simple moving average of $17.85. Astronics has a 12-month low of $14.11 and a 12-month high of $22.44.

Astronics (NASDAQ:ATRO) last posted its quarterly earnings results on Thursday, May 2nd. The aerospace company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.14). Astronics had a negative return on equity of 5.93% and a negative net margin of 3.51%. The business had revenue of $185.07 million for the quarter, compared to analysts’ expectations of $172.74 million. During the same period in the prior year, the business posted ($0.14) earnings per share. As a group, analysts predict that Astronics will post 0.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Astronics

A number of institutional investors have recently bought and sold shares of ATRO. Bares Capital Management Inc. increased its holdings in shares of Astronics by 10.4% during the 1st quarter. Bares Capital Management Inc. now owns 899,351 shares of the aerospace company’s stock valued at $17,124,000 after purchasing an additional 84,659 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Astronics during the 1st quarter valued at approximately $31,000. Senator Investment Group LP increased its holdings in shares of Astronics by 7.3% during the 1st quarter. Senator Investment Group LP now owns 545,754 shares of the aerospace company’s stock valued at $10,391,000 after purchasing an additional 36,980 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Astronics by 103.1% during the 1st quarter. Advisors Asset Management Inc. now owns 47,322 shares of the aerospace company’s stock valued at $901,000 after purchasing an additional 24,027 shares in the last quarter. Finally, American International Group Inc. increased its holdings in shares of Astronics by 4.5% during the 1st quarter. American International Group Inc. now owns 13,662 shares of the aerospace company’s stock valued at $260,000 after purchasing an additional 589 shares in the last quarter. 56.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on ATRO. Truist Financial dropped their target price on shares of Astronics from $21.00 to $19.00 and set a “hold” rating on the stock in a report on Friday, May 3rd. StockNews.com upgraded shares of Astronics from a “hold” rating to a “buy” rating in a report on Thursday, February 29th.

About Astronics

Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, and electronics industries in the United States, rest of North America, Asia, Europe, South America, and internationally. The company operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems, electrical power generation systems, distribution and seat motions systems, aircraft structures, avionics products, system certification, and other products.