Astrotech Corporation (NASDAQ:ASTC) Sees Large Drop in Short Interest

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

Astrotech Trading Down 2.3%

Astrotech stock opened at $9.77 on Friday. The firm has a 50-day moving average of $12.18 and a 200-day moving average of $6.41. The firm has a market cap of $17.59 million, a P/E ratio of -1.16 and a beta of 4.60. Astrotech has a 1-year low of $1.91 and a 1-year high of $68.85.

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Wall Street Zen lowered Astrotech to a “strong sell” rating in a research note on Saturday, June 13th. Weiss Ratings raised shares of 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, Astrotech currently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Astrotech

Several hedge funds have recently made changes to their positions in ASTC. J. Safra Sarasin Holding AG bought a new position in shares of Astrotech during the first quarter valued at approximately $140,000. DRW Securities LLC boosted its holdings in Astrotech by 168.5% in the fourth quarter. DRW Securities LLC now owns 31,464 shares of the aerospace company’s stock valued at $109,000 after acquiring an additional 19,747 shares in the last quarter. Finally, Susquehanna International Group LLP purchased a new position in Astrotech during the 3rd quarter valued at $66,000. 24.35% of the stock is owned by hedge funds and other institutional investors.

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.