Astronics Co. (NASDAQ:ATRO) Short Interest Up 9.0% in March

Astronics Co. (NASDAQ:ATRO) was the recipient of a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 324,300 shares, a growth of 9.0% from the March 15th total of 297,600 shares. Based on an average daily volume of 131,600 shares, the short-interest ratio is presently 2.5 days.

Astronics Stock Performance

NASDAQ:ATRO opened at $16.66 on Wednesday. Astronics has a 1-year low of $14.06 and a 1-year high of $22.44. The firm has a 50 day simple moving average of $18.29 and a 200-day simple moving average of $16.86. The firm has a market cap of $575.10 million, a PE ratio of -20.32 and a beta of 1.62. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.72 and a quick ratio of 1.38.

Astronics (NASDAQ:ATRO) last released its earnings results on Wednesday, February 28th. The aerospace company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.08. Astronics had a negative net margin of 3.83% and a negative return on equity of 6.53%. The firm had revenue of $195.29 million during the quarter, compared to the consensus estimate of $188.35 million. On average, equities analysts expect that Astronics will post 0.71 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ATRO. StockNews.com raised shares of Astronics from a “hold” rating to a “buy” rating in a research report on Thursday, February 29th. Truist Financial boosted their price objective on shares of Astronics from $18.00 to $21.00 and gave the company a “hold” rating in a research report on Friday, March 1st.

Insider Activity at Astronics

In related news, EVP Michael C. Kuehn sold 2,209 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $20.16, for a total value of $44,533.44. Following the completion of the sale, the executive vice president now owns 14,248 shares in the company, valued at $287,239.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Astronics news, EVP Michael C. Kuehn sold 2,209 shares of Astronics stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $20.16, for a total transaction of $44,533.44. Following the completion of the transaction, the executive vice president now owns 14,248 shares in the company, valued at $287,239.68. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Michael C. Kuehn sold 7,074 shares of Astronics stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $17.72, for a total transaction of $125,351.28. Following the transaction, the executive vice president now owns 12,875 shares of the company’s stock, valued at approximately $228,145. The disclosure for this sale can be found here. Company insiders own 10.83% of the company’s stock.

Institutional Investors Weigh In On Astronics

Institutional investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC grew its holdings in Astronics by 101.5% in the second quarter. Tower Research Capital LLC TRC now owns 1,906 shares of the aerospace company’s stock valued at $38,000 after purchasing an additional 960 shares during the period. Quantbot Technologies LP grew its stake in Astronics by 158.3% during the first quarter. Quantbot Technologies LP now owns 3,100 shares of the aerospace company’s stock worth $40,000 after buying an additional 1,900 shares during the period. BKM Wealth Management LLC purchased a new stake in Astronics during the fourth quarter worth approximately $64,000. SkyView Investment Advisors LLC purchased a new stake in Astronics during the first quarter worth approximately $67,000. Finally, Qube Research & Technologies Ltd purchased a new stake in Astronics during the third quarter worth approximately $69,000. 56.68% of the stock is currently owned by hedge funds and other institutional investors.

Astronics Company Profile

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.