Astrotech (NASDAQ:ASTC) Stock Price Passes Below 200-Day Moving Average – What’s Next?

Astrotech Corporation (NASDAQ:ASTC) shares crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $4.80 and traded as low as $3.25. Astrotech shares last traded at $3.48, with a volume of 252,445 shares traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Astrotech in a research report on Wednesday, December 10th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Astrotech Stock Down 17.1%

The business has a 50-day moving average price of $3.72 and a 200-day moving average price of $4.80. The firm has a market capitalization of $6.12 million, a price-to-earnings ratio of -0.41 and a beta of 0.34.

Astrotech (NASDAQ:ASTC) last announced its earnings results on Thursday, November 13th. The aerospace company reported ($2.07) earnings per share for the quarter. Astrotech had a negative return on equity of 59.71% and a negative net margin of 1,069.89%.The business had revenue of $0.30 million for the quarter.

Insider Activity

In related news, major shareholder Braden Michael Leonard sold 220,410 shares of the firm’s stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $7.13, for a total value of $1,571,523.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 16.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Astrotech stock. SCS Capital Management LLC purchased a new position in Astrotech Corporation (NASDAQ:ASTC) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 11,761 shares of the aerospace company’s stock, valued at approximately $76,000. SCS Capital Management LLC owned 0.69% of Astrotech at the end of the most recent quarter. Institutional investors own 24.35% of the company’s stock.

Astrotech Company Profile

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.