Astrotech (NASDAQ:ASTC) Announces Earnings Results

Astrotech (NASDAQ:ASTC) released its earnings results on Friday. The aerospace company reported ($1.83) EPS for the quarter, FiscalAI reports. The firm had revenue of $0.13 million during the quarter. Astrotech had a negative return on equity of 81.85% and a negative net margin of 1,397.82%.

Astrotech Stock Down 0.3%

Shares of ASTC opened at $7.16 on Friday. The company has a 50-day simple moving average of $7.41 and a 200-day simple moving average of $8.50. The company has a market capitalization of $15.11 million, a PE ratio of -0.85 and a beta of 4.88. Astrotech has a 52-week low of $1.91 and a 52-week high of $68.85.

Analysts Set New Price Targets

Several research firms recently issued reports on ASTC. Weiss Ratings reissued a “sell (d-)” rating on shares of Astrotech in a report on Monday, August 24th. Wall Street Zen lowered Astrotech from a “sell” rating to a “strong sell” rating in a report on Saturday, August 29th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SCS Capital Management LLC purchased a new position in Astrotech in the second quarter valued at about $120,000. J. Safra Sarasin Holding AG purchased a new stake in shares of Astrotech during the 1st quarter worth approximately $140,000. Finally, BlackRock Inc. acquired a new stake in shares of Astrotech in the 2nd quarter worth approximately $220,000. 24.35% of the stock is currently owned by institutional investors and hedge funds.

Astrotech Company Profile

Astrotech Corporation (NASDAQ: ASTC) is a technology company based in Austin, Texas, that develops and commercializes mass spectrometry and related analytical systems. The company’s technologies are designed to identify and analyze chemical compounds for applications in security, agriculture, industrial processing and health-related testing.

Astrotech operates through subsidiaries that include 1st Detect, which develops portable trace-detection systems intended to identify explosives, narcotics and other chemical substances; AgLAB, which focuses on analytical instruments for agricultural and industrial applications; and BreathTech, which is developing breath-analysis technologies.