Short Interest in Astrotech Corporation (NASDAQ:ASTC) Grows By 3,232.9%

Astrotech Corporation (NASDAQ:ASTC) saw a significant increase in short interest during the month of March. As of March 31st, there was short interest totaling 960,143 shares, an increase of 3,232.9% from the March 15th total of 28,808 shares. Based on an average daily volume of 9,808,634 shares, the days-to-cover ratio is currently 0.1 days. Approximately 65.6% of the company’s shares are short sold.

Astrotech Trading Down 11.3%

ASTC stock traded down $0.43 during mid-day trading on Friday, reaching $3.39. The company’s stock had a trading volume of 122,221 shares, compared to its average volume of 1,838,762. The company has a market cap of $5.97 million, a price-to-earnings ratio of -0.41 and a beta of -0.12. The business’s 50 day moving average price is $2.94 and its 200 day moving average price is $3.55. Astrotech has a 12 month low of $1.91 and a 12 month high of $8.01.

Astrotech (NASDAQ:ASTC) last issued its earnings results on Friday, February 13th. The aerospace company reported ($2.34) EPS for the quarter. Astrotech had a negative net margin of 1,163.89% and a negative return on equity of 68.53%. The firm had revenue of $0.15 million during the quarter.

Hedge Funds Weigh In On Astrotech

An institutional investor recently bought a new position in Astrotech stock. Susquehanna International Group LLP bought a new stake in Astrotech Corporation (NASDAQ:ASTC) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 13,539 shares of the aerospace company’s stock, valued at approximately $66,000. Susquehanna International Group LLP owned about 0.77% of Astrotech as of its most recent SEC filing. Institutional investors and hedge funds own 24.35% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Astrotech in a research report on Friday, March 27th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of “Sell”.

Astrotech Company Profile

Astrotech Corp. (NASDAQ: ASTC) is a technology commercialization company headquartered near Austin, Texas. The firm sources early-stage innovations from government and university research programs—most notably from NASA—and advances them toward commercial readiness. Astrotech’s core mission is to bridge the gap between federally funded R&D and industrial applications across the life sciences and renewable energy sectors.

In its life sciences division, Astrotech has focused on mass spectrometry-based analytical instruments and diagnostic platforms.