Astrotech (NASDAQ:ASTC) Stock Crosses Below 200-Day Moving Average – Here’s Why

Astrotech Corporation (NASDAQ:ASTC)’s stock price passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $6.32 and traded as low as $5.60. Astrotech shares last traded at $5.60, with a volume of 1,334 shares traded.

Astrotech Stock Performance

The stock has a fifty day simple moving average of $5.83 and a 200-day simple moving average of $6.32. The stock has a market cap of $9.46 million, a P/E ratio of -0.67 and a beta of 0.25.

Astrotech (NASDAQ:ASTC) last posted its quarterly earnings results on Tuesday, May 13th. The aerospace company reported ($2.18) earnings per share (EPS) for the quarter. Astrotech had a negative return on equity of 46.37% and a negative net margin of 1,536.99%.

Institutional Investors Weigh In On Astrotech

Several institutional investors and hedge funds have recently bought and sold shares of the company. Citadel Advisors LLC raised its position in Astrotech by 62.7% during the 4th quarter. Citadel Advisors LLC now owns 24,014 shares of the aerospace company’s stock worth $161,000 after purchasing an additional 9,256 shares during the last quarter. SCS Capital Management LLC acquired a new stake in shares of Astrotech in the first quarter valued at about $76,000. Finally, Dimensional Fund Advisors LP raised its position in shares of Astrotech by 15.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 11,930 shares of the aerospace company’s stock worth $80,000 after acquiring an additional 1,579 shares during the last quarter. Institutional investors own 24.35% of the company’s stock.

About Astrotech

Astrotech Corporation operates as a mass spectrometry company worldwide. It owns and licenses the intellectual property related to the Astrotech Mass Spectrometer Technology, a platform mass spectrometry technology. The company also develops TRACER 1000, a mass spectrometer-based explosive trace detector to replace the explosives trace detectors used at airports, cargo and other secured facilities, and borders.