Astronics Co. (NASDAQ:ATRO) Short Interest Up 14.3% in September

Astronics Co. (NASDAQ:ATRO) was the recipient of a large growth in short interest in the month of September. As of September 15th, there was short interest totalling 355,700 shares, a growth of 14.3% from the August 31st total of 311,300 shares. Based on an average trading volume of 170,300 shares, the days-to-cover ratio is presently 2.1 days.

Analysts Set New Price Targets

Separately, Truist Financial increased their price objective on shares of Astronics from $20.00 to $22.00 and gave the company a “hold” rating in a report on Friday, August 2nd.

Astronics Price Performance

Shares of NASDAQ ATRO traded down $0.10 during midday trading on Monday, hitting $19.95. The stock had a trading volume of 7,405 shares, compared to its average volume of 147,392. The company has a quick ratio of 1.50, a current ratio of 2.92 and a debt-to-equity ratio of 0.67. The stock has a 50 day simple moving average of $20.30 and a 200-day simple moving average of $19.43. The company has a market capitalization of $695.10 million, a PE ratio of -26.03 and a beta of 1.83. Astronics has a 1 year low of $14.11 and a 1 year high of $23.74.

Astronics (NASDAQ:ATRO) last announced its quarterly earnings data on Thursday, August 1st. The aerospace company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.13). Astronics had a negative net margin of 1.57% and a negative return on equity of 0.31%. The firm had revenue of $198.11 million during the quarter, compared to analysts’ expectations of $191.19 million. During the same quarter in the previous year, the business posted ($0.37) EPS. On average, sell-side analysts expect that Astronics will post 0.36 EPS for the current fiscal year.

Institutional Trading of Astronics

Large investors have recently bought and sold shares of the business. Point72 Asset Management L.P. acquired a new position in shares of Astronics during the 2nd quarter worth approximately $25,000. nVerses Capital LLC acquired a new position in Astronics during the second quarter worth $28,000. Public Employees Retirement System of Ohio acquired a new position in Astronics during the first quarter worth $31,000. Allspring Global Investments Holdings LLC grew its holdings in Astronics by 4,973.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 10,958 shares of the aerospace company’s stock valued at $219,000 after buying an additional 10,742 shares in the last quarter. Finally, Clear Rock Advisors LLC acquired a new stake in shares of Astronics in the 4th quarter worth $204,000. Hedge funds and other institutional investors own 56.68% of the company’s stock.

Astronics Company Profile

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.