Astrotech Corporation (NASDAQ:ASTC) Short Interest Down 86.9% in June

Astrotech Corporation (NASDAQ:ASTC) was the target of a large decrease in short interest in the month of June. As of June 15th, there was short interest totaling 131,925 shares, a decrease of 86.9% from the May 31st total of 1,007,150 shares. Approximately 8.8% of the company’s shares are sold short. Based on an average daily trading volume, of 2,914,010 shares, the short-interest ratio is presently 0.0 days.

Astrotech Price Performance

ASTC traded down $0.69 on Friday, hitting $9.31. The company had a trading volume of 88,681 shares, compared to its average volume of 3,206,484. Astrotech has a 52-week low of $1.91 and a 52-week high of $68.85. The stock has a fifty day simple moving average of $12.31 and a 200-day simple moving average of $6.43. The firm has a market capitalization of $16.75 million, a P/E ratio of -1.11 and a beta of 4.60.

Astrotech (NASDAQ:ASTC) last issued its quarterly earnings results on Wednesday, May 13th. The aerospace company reported ($2.25) earnings per share for the quarter. The firm had revenue of $0.34 million during the quarter. Astrotech had a negative return on equity of 81.85% and a negative net margin of 1,397.82%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Susquehanna International Group LLP purchased a new stake in Astrotech in the third quarter worth about $66,000. DRW Securities LLC boosted its position in shares of Astrotech by 168.5% in the 4th quarter. DRW Securities LLC now owns 31,464 shares of the aerospace company’s stock worth $109,000 after purchasing an additional 19,747 shares in the last quarter. Finally, J. Safra Sarasin Holding AG bought a new stake in shares of Astrotech in the 1st quarter worth approximately $140,000. 24.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Wall Street Zen lowered Astrotech to a “strong sell” rating in a research report on Saturday, June 13th. Weiss Ratings raised Astrotech from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 27th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has an average 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.