Short Interest in Astronics Co. (NASDAQ:ATRO) Declines By 21.5%

Astronics Co. (NASDAQ:ATRO) was the target of a large decrease in short interest during the month of May. As of May 31st, there was short interest totalling 433,100 shares, a decrease of 21.5% from the May 15th total of 551,800 shares. Based on an average daily trading volume, of 119,100 shares, the short-interest ratio is currently 3.6 days.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ATRO. StockNews.com upgraded Astronics from a “hold” rating to a “buy” rating in a report on Thursday, February 29th. Truist Financial reduced their price objective on Astronics from $21.00 to $19.00 and set a “hold” rating on the stock in a research note on Friday, May 3rd.

Hedge Funds Weigh In On Astronics

A number of institutional investors and hedge funds have recently bought and sold shares of ATRO. Public Employees Retirement System of Ohio purchased a new stake in shares of Astronics during the first quarter valued at approximately $31,000. BKM Wealth Management LLC purchased a new position in shares of Astronics in the fourth quarter valued at $64,000. Psagot Value Holdings Ltd. Israel grew its holdings in Astronics by 856.5% during the 4th quarter. Psagot Value Holdings Ltd. Israel now owns 4,352 shares of the aerospace company’s stock valued at $77,000 after purchasing an additional 3,897 shares in the last quarter. RiverPark Advisors LLC increased its stake in Astronics by 22.6% during the 4th quarter. RiverPark Advisors LLC now owns 5,815 shares of the aerospace company’s stock worth $101,000 after buying an additional 1,072 shares during the period. Finally, DekaBank Deutsche Girozentrale acquired a new position in Astronics in the 3rd quarter worth $178,000. Hedge funds and other institutional investors own 56.68% of the company’s stock.

Astronics Trading Down 0.8 %

Shares of Astronics stock traded down $0.15 during trading hours on Monday, hitting $18.27. The company’s stock had a trading volume of 121,155 shares, compared to its average volume of 131,211. The company has a quick ratio of 1.27, a current ratio of 2.59 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $636.53 million, a PE ratio of -23.71 and a beta of 1.84. The business has a fifty day moving average of $18.59 and a 200 day moving average of $17.87. Astronics has a 1-year low of $14.11 and a 1-year high of $22.44.

Astronics (NASDAQ:ATRO) last released its quarterly earnings data on Thursday, May 2nd. The aerospace company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.14). Astronics had a negative net margin of 3.51% and a negative return on equity of 5.93%. The company had revenue of $185.07 million during the quarter, compared to analysts’ expectations of $172.74 million. During the same period last year, the business earned ($0.14) earnings per share. As a group, equities analysts forecast that Astronics will post 0.53 EPS for the current year.

About Astronics

Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, and electronics industries in the United States, rest of North America, Asia, Europe, South America, and internationally. The company operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems, electrical power generation systems, distribution and seat motions systems, aircraft structures, avionics products, system certification, and other products.