Astrotech (NASDAQ:ASTC) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Astrotech Corporation (NASDAQ:ASTC)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $3.58 and traded as high as $5.60. Astrotech shares last traded at $5.23, with a volume of 4,669,571 shares trading hands.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Astrotech in a report on Friday. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of “Sell”.

Astrotech Stock Performance

The firm’s 50 day moving average price is $2.90 and its two-hundred day moving average price is $3.58. The firm has a market cap of $9.20 million, a PE ratio of -0.63 and a beta of 0.38.

Astrotech (NASDAQ:ASTC) last released its quarterly earnings results on Friday, February 13th. The aerospace company reported ($2.34) EPS for the quarter. Astrotech had a negative net margin of 1,163.89% and a negative return on equity of 68.53%. The firm had revenue of $0.15 million for the quarter.

Institutional Investors Weigh In On Astrotech

A hedge fund recently raised its stake in Astrotech stock. DRW Securities LLC lifted its holdings in shares of Astrotech Corporation (NASDAQ:ASTC) by 168.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 31,464 shares of the aerospace company’s stock after purchasing an additional 19,747 shares during the quarter. DRW Securities LLC owned about 1.79% of Astrotech worth $109,000 as of its most recent filing with the Securities and Exchange Commission. 24.35% of the stock is owned by hedge funds and other institutional investors.

Astrotech Company Profile

Astrotech Corp. (NASDAQ: ASTC) is a technology commercialization company headquartered near Austin, Texas. The firm sources early-stage innovations from government and university research programs—most notably from NASA—and advances them toward commercial readiness. Astrotech’s core mission is to bridge the gap between federally funded R&D and industrial applications across the life sciences and renewable energy sectors.

In its life sciences division, Astrotech has focused on mass spectrometry-based analytical instruments and diagnostic platforms.