Short Interest in Astrotech Corporation (NASDAQ:ASTC) Decreases By 65.5%

Astrotech Corporation (NASDAQ:ASTC) was the target of a significant decline in short interest in the month of December. As of December 31st, there was short interest totaling 40,960 shares, a decline of 65.5% from the December 15th total of 118,829 shares. Approximately 2.8% of the shares of the company are short sold. Based on an average daily trading volume, of 34,610 shares, the short-interest ratio is currently 1.2 days. Based on an average daily trading volume, of 34,610 shares, the short-interest ratio is currently 1.2 days. Approximately 2.8% of the shares of the company are short sold.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Astrotech in a research note on Monday, December 29th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Astrotech presently has an average rating of “Sell”.

Hedge Funds Weigh In On Astrotech

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

Astrotech Price Performance

NASDAQ ASTC opened at $3.67 on Thursday. Astrotech has a 12 month low of $2.46 and a 12 month high of $8.01. The firm has a market capitalization of $6.46 million, a PE ratio of -0.43 and a beta of 0.34. The company’s 50 day simple moving average is $3.50 and its 200 day simple moving average is $4.49.

Astrotech (NASDAQ:ASTC) last released its earnings results on Thursday, November 13th. The aerospace company reported ($2.07) earnings per share for the quarter. Astrotech had a negative return on equity of 59.71% and a negative net margin of 1,069.89%.The firm had revenue of $0.30 million during the quarter.

About Astrotech

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.