Short Interest in Astronics Co. (NASDAQ:ATRO) Grows By 9.0%

Astronics Co. (NASDAQ:ATRO) was the recipient of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 324,300 shares, an increase of 9.0% from the March 15th total of 297,600 shares. Based on an average daily trading volume, of 131,600 shares, the short-interest ratio is currently 2.5 days.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ATRO. Truist Financial lifted their target price on Astronics from $18.00 to $21.00 and gave the company a “hold” rating in a research report on Friday, March 1st. StockNews.com upgraded Astronics from a “hold” rating to a “buy” rating in a research report on Thursday, February 29th.

Astronics Stock Performance

NASDAQ ATRO traded down $0.24 on Monday, hitting $16.77. 53,534 shares of the company traded hands, compared to its average volume of 129,666. The company has a current ratio of 2.72, a quick ratio of 1.38 and a debt-to-equity ratio of 0.64. The business’s 50 day moving average price is $18.33 and its 200-day moving average price is $16.85. The company has a market capitalization of $578.90 million, a price-to-earnings ratio of -20.61 and a beta of 1.62. Astronics has a 52-week low of $14.06 and a 52-week high of $22.44.

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

Insider Transactions at Astronics

In other news, EVP Michael C. Kuehn sold 7,074 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $17.72, for a total value of $125,351.28. Following the transaction, the executive vice president now directly owns 12,875 shares in the company, valued at approximately $228,145. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, EVP Michael C. Kuehn sold 2,209 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was 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 SEC, which is accessible through this link. Also, EVP Michael C. Kuehn sold 7,074 shares of Astronics stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $17.72, for a total value of $125,351.28. Following the transaction, the executive vice president now owns 12,875 shares in the company, valued at $228,145. The disclosure for this sale can be found here. Company insiders own 10.83% of the company’s stock.

Institutional Investors Weigh In On Astronics

Institutional investors and hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC raised its holdings in Astronics by 101.5% during the second quarter. Tower Research Capital LLC TRC now owns 1,906 shares of the aerospace company’s stock valued at $38,000 after acquiring an additional 960 shares during the period. Quantbot Technologies LP raised its holdings in Astronics by 158.3% during the first quarter. Quantbot Technologies LP now owns 3,100 shares of the aerospace company’s stock valued at $40,000 after acquiring an additional 1,900 shares during the period. BKM Wealth Management LLC bought a new stake in shares of Astronics in the fourth quarter worth about $64,000. Qube Research & Technologies Ltd bought a new stake in shares of Astronics in the third quarter worth about $69,000. Finally, Psagot Value Holdings Ltd. Israel increased its holdings in shares of Astronics by 856.5% in the fourth quarter. Psagot Value Holdings Ltd. Israel now owns 4,352 shares of the aerospace company’s stock worth $77,000 after purchasing an additional 3,897 shares during the last quarter. 56.68% of the stock is owned by institutional investors.

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.