Astrotech (NASDAQ:ASTC) Cut to “Strong Sell” at Wall Street Zen

Astrotech (NASDAQ:ASTC) was downgraded by investment analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a note issued to investors on Monday.

Separately, Weiss Ratings upgraded Astrotech from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 27th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Astrotech currently has an average rating of “Sell”.

Astrotech Stock Performance

Shares of Astrotech stock opened at $7.73 on Monday. Astrotech has a 12-month low of $1.91 and a 12-month high of $68.85. The stock has a market cap of $13.91 million, a PE ratio of -0.92 and a beta of 4.77. The company has a 50-day moving average of $14.24 and a two-hundred day moving average of $7.06.

Astrotech (NASDAQ:ASTC) last announced its quarterly earnings results on Wednesday, May 13th. The aerospace company reported ($2.25) EPS for the quarter. The firm had revenue of $0.34 million for the quarter. Astrotech had a negative return on equity of 81.85% and a negative net margin of 1,397.82%.

Hedge Funds Weigh In On Astrotech

A number of institutional investors have recently made changes to their positions in the stock. DRW Securities LLC lifted its position in shares of Astrotech by 168.5% in the fourth quarter. DRW Securities LLC now owns 31,464 shares of the aerospace company’s stock valued at $109,000 after acquiring an additional 19,747 shares in the last quarter. J. Safra Sarasin Holding AG purchased a new stake in Astrotech during the 1st quarter worth about $140,000. Finally, Susquehanna International Group LLP acquired a new position in Astrotech in the 3rd quarter valued at about $66,000. 24.35% of the stock is owned by institutional investors and hedge funds.

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.