Astronics Co. (NASDAQ:ATRO) Short Interest Up 6.0% in March

Astronics Co. (NASDAQ:ATROGet Free Report) was the target of a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 297,600 shares, a growth of 6.0% from the February 29th total of 280,700 shares. Based on an average daily trading volume, of 135,800 shares, the days-to-cover ratio is presently 2.2 days.

Astronics Trading Down 2.3 %

NASDAQ:ATRO traded down $0.42 on Tuesday, reaching $17.99. The stock had a trading volume of 26,332 shares, compared to its average volume of 134,409. Astronics has a 1-year low of $12.91 and a 1-year high of $22.44. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.72 and a quick ratio of 1.38. The stock has a fifty day moving average price of $18.30 and a 200-day moving average price of $16.76.

Astronics (NASDAQ:ATROGet Free Report) last announced its earnings results on Wednesday, February 28th. The aerospace company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.08. Astronics had a negative net margin of 3.83% and a negative return on equity of 6.53%. The company had revenue of $195.29 million for the quarter, compared to analyst estimates of $188.35 million. Equities analysts predict that Astronics will post 0.71 EPS for the current fiscal year.

Insider Activity at Astronics

In related news, EVP Michael C. Kuehn sold 2,209 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $20.16, for a total value of $44,533.44. Following the transaction, the executive vice president now directly owns 14,248 shares in the company, valued at approximately $287,239.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Michael C. Kuehn sold 7,074 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $17.72, for a total transaction of $125,351.28. Following the transaction, the executive vice president now owns 12,875 shares in the company, valued at approximately $228,145. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Michael C. Kuehn sold 2,209 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $20.16, for a total transaction of $44,533.44. Following the transaction, the executive vice president now owns 14,248 shares in the company, valued at approximately $287,239.68. The disclosure for this sale can be found here. 10.86% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Astronics

Large investors have recently modified their holdings of the stock. Lewis Capital Management LLC lifted its position in shares of Astronics by 4.0% during the third quarter. Lewis Capital Management LLC now owns 334,737 shares of the aerospace company’s stock worth $5,309,000 after purchasing an additional 13,004 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of Astronics during the third quarter worth approximately $178,000. Swiss National Bank raised its stake in shares of Astronics by 1.8% during the third quarter. Swiss National Bank now owns 55,200 shares of the aerospace company’s stock worth $875,000 after buying an additional 1,000 shares during the last quarter. BKM Wealth Management LLC bought a new stake in shares of Astronics during the fourth quarter worth approximately $64,000. Finally, SG Americas Securities LLC bought a new stake in shares of Astronics during the third quarter worth approximately $185,000. 56.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Truist Financial upped their target price on shares of Astronics from $18.00 to $21.00 and gave the company a “hold” rating in a research note on Friday, March 1st. StockNews.com raised shares of Astronics from a “hold” rating to a “buy” rating in a research note on Thursday, February 29th.

Read Our Latest Report on Astronics

Astronics Company Profile

(Get Free Report)

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.

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