Astronics (NASDAQ:ATRO) Sees Large Volume Increase – Time to Buy?

Astronics Co. (NASDAQ:ATRO) shares saw strong trading volume on Wednesday . 374,624 shares were traded during 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.

Wall Street Analyst Weigh In

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

Astronics Trading Up 5.3 %

The company has a market capitalization of $605.77 million, a P/E ratio of -85.89 and a beta of 1.83. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.46 and a current ratio of 2.83. The company has a 50-day simple moving average of $18.95 and a 200 day simple moving average of $19.75.

Hedge Funds Weigh In On Astronics

Large investors have recently made changes to their positions in the company. American International Group Inc. increased its holdings in Astronics by 4.5% in the first quarter. American International Group Inc. now owns 13,662 shares of the aerospace company’s stock valued at $260,000 after purchasing an additional 589 shares during the last quarter. DekaBank Deutsche Girozentrale grew its holdings in shares of Astronics by 13.5% during the third quarter. DekaBank Deutsche Girozentrale now owns 8,146 shares of the aerospace company’s stock worth $163,000 after buying an additional 971 shares in the last quarter. RiverPark Advisors LLC boosted its position in Astronics by 3.5% during the third quarter. RiverPark Advisors LLC now owns 30,394 shares of the aerospace company’s stock valued at $592,000 after purchasing an additional 1,015 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Astronics by 10.8% in the second quarter. The Manufacturers Life Insurance Company now owns 11,195 shares of the aerospace company’s stock valued at $224,000 after buying an additional 1,094 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Astronics in the second quarter valued at approximately $25,000. Institutional investors and hedge funds 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.