Short Interest in Astronics Co. (NASDAQ:ATRO) Increases By 17.2%

Astronics Co. (NASDAQ:ATRO) saw a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 1,980,000 shares, a growth of 17.2% from the February 13th total of 1,690,000 shares. Based on an average daily volume of 384,700 shares, the short-interest ratio is presently 5.1 days. Currently, 6.3% of the shares of the company are short sold.

Astronics Price Performance

NASDAQ:ATRO opened at $25.08 on Thursday. Astronics has a 52 week low of $14.13 and a 52 week high of $25.54. The company has a quick ratio of 1.46, a current ratio of 2.83 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $884.55 million, a PE ratio of -131.99 and a beta of 1.74. The stock’s 50-day moving average price is $19.58 and its 200-day moving average price is $18.55.

Astronics (NASDAQ:ATRO) last posted its quarterly earnings data on Tuesday, March 4th. The aerospace company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.27. Astronics had a positive return on equity of 6.94% and a negative net margin of 0.82%. The company had revenue of $208.54 million for the quarter, compared to analysts’ expectations of $194.91 million. During the same period in the previous year, the firm posted $0.35 EPS. As a group, equities analysts expect that Astronics will post 0.82 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Truist Financial increased their price target on Astronics from $17.00 to $23.00 and gave the stock a “hold” rating in a research report on Wednesday, March 5th. StockNews.com upgraded Astronics from a “hold” rating to a “buy” rating in a research report on Thursday, March 6th.

Insiders Place Their Bets

In other Astronics news, Director Robert S. Keane sold 77,099 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $24.55, for a total transaction of $1,892,780.45. Following the sale, the director now directly owns 6,346 shares of the company’s stock, valued at approximately $155,794.30. This trade represents a 92.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 10.86% of the stock is owned by insiders.

Institutional Investors Weigh In On Astronics

Several institutional investors have recently bought and sold shares of ATRO. AlphaQuest LLC boosted its holdings in Astronics by 355.5% in the 4th quarter. AlphaQuest LLC now owns 3,576 shares of the aerospace company’s stock worth $57,000 after buying an additional 2,791 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Astronics by 167.1% in the 4th quarter. Public Employees Retirement System of Ohio now owns 4,156 shares of the aerospace company’s stock worth $66,000 after buying an additional 2,600 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Astronics in the 4th quarter worth about $73,000. Point72 Asset Management L.P. lifted its stake in Astronics by 337.9% in the 3rd quarter. Point72 Asset Management L.P. now owns 5,356 shares of the aerospace company’s stock worth $104,000 after purchasing an additional 4,133 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Astronics in the 3rd quarter worth approximately $106,000. 56.68% of the stock is currently owned by institutional investors and hedge funds.

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.