Short Interest in Astrotech Corporation (NASDAQ:ASTC) Increases By 2,336.3%

Astrotech Corporation (NASDAQ:ASTC) saw a large growth in short interest in May. As of May 29th, there was short interest totaling 1,007,150 shares, a growth of 2,336.3% from the May 14th total of 41,339 shares. Currently, 67.3% of the shares of the company are short sold. Based on an average trading volume of 24,372,121 shares, the days-to-cover ratio is presently 0.0 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded Astrotech from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 27th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Astrotech Stock Down 12.2%

ASTC stock traded down $3.55 during mid-day trading on Tuesday, hitting $25.58. The company had a trading volume of 567,211 shares, compared to its average volume of 12,703,458. The company has a 50-day moving average price of $9.38 and a 200 day moving average price of $5.36. Astrotech has a 12-month low of $1.91 and a 12-month high of $68.85. The company has a market capitalization of $46.04 million, a price-to-earnings ratio of -3.04 and a beta of 4.60.

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

Institutional Trading of Astrotech

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

About Astrotech

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.