Astronics Co. (NASDAQ:ATRO) Short Interest Up 13.1% in July

Astronics Co. (NASDAQ:ATRO) was the recipient of a significant increase in short interest in July. As of July 15th, there was short interest totalling 291,900 shares, an increase of 13.1% from the June 30th total of 258,200 shares. Based on an average daily trading volume, of 157,900 shares, the short-interest ratio is presently 1.8 days.

Astronics Price Performance

Shares of ATRO stock traded down $0.16 during trading hours on Monday, reaching $22.32. 117,090 shares of the company were exchanged, compared to its average volume of 142,240. Astronics has a fifty-two week low of $14.11 and a fifty-two week high of $23.74. The stock’s fifty day moving average is $20.39 and its two-hundred day moving average is $18.79. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.59 and a quick ratio of 1.27.

Astronics (NASDAQ:ATRO) last announced its 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 company had revenue of $185.07 million for the quarter, compared to analyst estimates of $172.74 million. During the same quarter in the previous year, the company posted ($0.14) earnings per share. On average, equities analysts anticipate that Astronics will post 0.49 EPS for the current fiscal year.

Hedge Funds Weigh In On Astronics

Large investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio acquired a new position in shares of Astronics during the first quarter worth approximately $31,000. Psagot Value Holdings Ltd. Israel raised its stake in shares of Astronics by 856.5% during the fourth quarter. Psagot Value Holdings Ltd. Israel now owns 4,352 shares of the aerospace company’s stock worth $77,000 after buying an additional 3,897 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Astronics by 4,973.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 10,958 shares of the aerospace company’s stock worth $219,000 after buying an additional 10,742 shares during the last quarter. Clear Rock Advisors LLC bought a new stake in shares of Astronics during the fourth quarter worth approximately $204,000. Finally, Hennion & Walsh Asset Management Inc. bought a new stake in shares of Astronics during the first quarter worth approximately $239,000. 56.68% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Truist Financial boosted their price target on shares of Astronics from $19.00 to $20.00 and gave the company a “hold” rating in a research report on Wednesday, July 17th.

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.