Astronics Co. (NASDAQ:ATRO) Sees Significant Increase in Short Interest

Astronics Co. (NASDAQ:ATRO) was the recipient of a large increase in short interest during the month of September. As of September 30th, there was short interest totalling 373,900 shares, an increase of 5.1% from the September 15th total of 355,700 shares. Based on an average trading volume of 155,200 shares, the days-to-cover ratio is currently 2.4 days.

Analyst Upgrades and Downgrades

Separately, Truist Financial boosted their price target on shares of Astronics from $20.00 to $22.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd.

Institutional Investors Weigh In On Astronics

Large investors have recently made changes to their positions in the business. Point72 Asset Management L.P. purchased a new stake in Astronics in the second quarter worth $25,000. nVerses Capital LLC purchased a new stake in shares of Astronics in the 2nd quarter worth about $28,000. Public Employees Retirement System of Ohio bought a new stake in shares of Astronics during the 1st quarter valued at about $31,000. Allspring Global Investments Holdings LLC increased its position 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 valued at $219,000 after buying an additional 10,742 shares during the period. Finally, SG Americas Securities LLC raised its stake in Astronics by 115.4% in the third quarter. SG Americas Securities LLC now owns 11,387 shares of the aerospace company’s stock worth $222,000 after buying an additional 6,101 shares in the last quarter. 56.68% of the stock is currently owned by institutional investors.

Astronics Price Performance

Shares of Astronics stock opened at $20.28 on Wednesday. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.92 and a quick ratio of 1.50. Astronics has a one year low of $14.11 and a one year high of $23.74. The business’s 50 day simple moving average is $19.85 and its two-hundred day simple moving average is $19.56. The stock has a market capitalization of $706.60 million, a P/E ratio of -26.34 and a beta of 1.82.

Astronics (NASDAQ:ATRO) last posted its quarterly earnings results on Thursday, August 1st. The aerospace company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.13). The firm had revenue of $198.11 million for the quarter, compared to the consensus estimate of $191.19 million. Astronics had a negative net margin of 1.57% and a negative return on equity of 0.31%. During the same quarter in the prior year, the company earned ($0.37) earnings per share. Analysts forecast that Astronics will post 0.36 EPS for the current year.

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.