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

Astrotech Co. (NASDAQ:ASTC – Get Rating) was the recipient of a significant drop in short interest during the month of March. As of March 31st, there was short interest totalling 94,600 shares, a drop of 27.3% from the March 15th total of 130,100 shares. Based on an average daily volume of 307,200 shares, the short-interest ratio is presently 0.3 days. Currently, 0.2% of the shares of the company are sold short.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ASTC. Citadel Advisors LLC purchased a new position in Astrotech in the third quarter valued at $26,000. Morgan Stanley increased its holdings in Astrotech by 878.7% in the first quarter. Morgan Stanley now owns 23,000 shares of the aerospace company’s stock valued at $50,000 after buying an additional 20,650 shares in the last quarter. Two Sigma Securities LLC purchased a new position in Astrotech in the third quarter valued at $62,000. Renaissance Technologies LLC purchased a new position in Astrotech in the fourth quarter valued at $300,000. Finally, Geode Capital Management LLC increased its stake in shares of Astrotech by 29.9% during the third quarter. Geode Capital Management LLC now owns 369,536 shares of the aerospace company’s stock worth $388,000 after purchasing an additional 85,087 shares in the last quarter. 6.17% of the stock is owned by institutional investors.

ASTC opened at $0.64 on Friday. Astrotech has a fifty-two week low of $0.60 and a fifty-two week high of $1.40. The company has a fifty day moving average of $0.69 and a two-hundred day moving average of $0.78.

Astrotech (NASDAQ:ASTC – Get Rating) last released its quarterly earnings data on Friday, February 11th. The aerospace company reported ($0.05) earnings per share for the quarter. Astrotech had a negative net margin of 994.95% and a negative return on equity of 15.64%. The firm had revenue of $0.56 million during the quarter.

Separately, StockNews.com began coverage on shares of Astrotech in a report on Monday, April 11th. They set a “sell” rating for the company.

Astrotech Company Profile (Get Rating)

Astrotech Corp. engages in the provision of science and technology development and commercialization businesses. It operates through the following segments: 1st Detect Corporation and Astral Images Corporation. The 1st Detect Corporation segment refers to the development of TRACER for use at airports, secured facilities and borders worldwide.

Further Reading