Astronics (NASDAQ:ATRO) Sees Strong Trading Volume – Here’s Why

Astronics Co. (NASDAQ:ATRO) shares saw unusually-high trading volume on Wednesday . Approximately 374,624 shares changed hands during mid-day trading, an increase of 148% from the previous session’s volume of 151,039 shares.The stock last traded at $17.03 and had previously closed at $16.32.

Analysts Set New Price Targets

Separately, Truist Financial reduced their price target on shares of Astronics from $22.00 to $20.00 and set a “hold” rating for the company in a research report on Friday, October 18th.

Astronics Price Performance

The stock has a 50 day moving average price of $18.89 and a 200-day moving average price of $19.72. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.83 and a quick ratio of 1.46. The stock has a market capitalization of $607.18 million, a price-to-earnings ratio of -89.73 and a beta of 1.83.

Institutional Investors Weigh In On Astronics

A number of large investors have recently modified their holdings of the business. Swiss National Bank boosted its position in Astronics by 5.4% during the first quarter. Swiss National Bank now owns 52,400 shares of the aerospace company’s stock worth $998,000 after acquiring an additional 2,700 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Astronics by 9.6% during the 1st quarter. Russell Investments Group Ltd. now owns 23,900 shares of the aerospace company’s stock worth $455,000 after purchasing an additional 2,100 shares during the last quarter. State Board of Administration of Florida Retirement System purchased a new stake in shares of Astronics in the first quarter valued at approximately $270,000. Vanguard Group Inc. increased its holdings in shares of Astronics by 1.6% in the first quarter. Vanguard Group Inc. now owns 1,448,121 shares of the aerospace company’s stock valued at $27,572,000 after purchasing an additional 23,444 shares during the last quarter. Finally, American International Group Inc. lifted its position in Astronics by 4.5% during the first quarter. American International Group Inc. now owns 13,662 shares of the aerospace company’s stock worth $260,000 after buying an additional 589 shares in the last quarter. Hedge funds and other institutional investors own 56.68% of the company’s stock.

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.