Short Interest in Astronics Co. (NASDAQ:ATRO) Expands By 6.8%

Astronics Co. (NASDAQ:ATRO) saw a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 746,400 shares, a growth of 6.8% from the December 15th total of 699,200 shares. Based on an average daily volume of 225,600 shares, the short-interest ratio is presently 3.3 days. Currently, 3.3% of the shares of the company are sold short.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Cubist Systematic Strategies LLC boosted its holdings in Astronics by 346.1% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 63,415 shares of the aerospace company’s stock valued at $2,551,000 after purchasing an additional 49,200 shares during the period. State of New Jersey Common Pension Fund D acquired a new position in shares of Astronics in the 3rd quarter valued at approximately $1,733,000. Man Group plc acquired a new position in shares of Astronics in the 3rd quarter valued at approximately $237,000. Russell Investments Group Ltd. raised its position in shares of Astronics by 408.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 63,026 shares of the aerospace company’s stock valued at $1,852,000 after buying an additional 50,635 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY raised its position in shares of Astronics by 21.0% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 8,733 shares of the aerospace company’s stock valued at $257,000 after buying an additional 1,518 shares in the last quarter. 68.48% of the stock is owned by hedge funds and other institutional investors.

NASDAQ ATRO traded up $0.23 during trading on Thursday, reaching $28.84. The company’s stock had a trading volume of 47,125 shares, compared to its average volume of 239,606. The company has a current ratio of 2.96, a quick ratio of 1.71 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $875.22 million, a price-to-earnings ratio of 20.45, a price-to-earnings-growth ratio of 2.09 and a beta of 1.41. Astronics has a 12 month low of $25.85 and a 12 month high of $44.34. The firm has a 50 day moving average price of $28.74 and a 200 day moving average price of $30.86.

Several analysts recently commented on the stock. Zacks Investment Research raised shares of Astronics from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 8th. Dougherty & Co reduced their target price on shares of Astronics from $40.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. ValuEngine raised shares of Astronics from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Finally, BidaskClub downgraded shares of Astronics from a “sell” rating to a “strong sell” rating in a report on Tuesday, December 17th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $37.75.

Astronics Company Profile

Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, electronics, and semiconductor industries worldwide. It operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems; electrical power generation, distribution, and motions systems; aircraft structures; avionics products; system certification; and connectivity and other products.

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