Astrotech Corporation (NASDAQ:ASTC) Sees Large Decrease in Short Interest

Astrotech Corporation (NASDAQ:ASTC) was the target of a large decline in short interest in July. As of July 15th, there was short interest totaling 89,847 shares, a decline of 43.1% from the June 30th total of 157,846 shares. Based on an average daily volume of 149,729 shares, the short-interest ratio is currently 0.6 days. Currently, 6.0% of the company’s stock are sold short.

Analysts Set New Price Targets

A number of analysts recently issued reports on ASTC shares. Weiss Ratings raised Astrotech from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 27th. Wall Street Zen lowered shares of Astrotech from a “sell” rating to a “strong sell” rating in a research note on Monday, July 20th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.

Astrotech Price Performance

ASTC stock traded down $0.20 during trading hours on Wednesday, reaching $6.21. 26,656 shares of the stock were exchanged, compared to its average volume of 2,738,875. The firm’s 50-day moving average is $14.90 and its 200-day moving average is $7.25. Astrotech has a 12 month low of $1.91 and a 12 month high of $68.85. The company has a market cap of $11.17 million, a price-to-earnings ratio of -0.74 and a beta of 4.77.

Astrotech (NASDAQ:ASTC) last issued 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 during the quarter. Astrotech had a negative net margin of 1,397.82% and a negative return on equity of 81.85%.

Hedge Funds Weigh In On Astrotech

Several hedge funds have recently made changes to their positions in ASTC. Susquehanna International Group LLP acquired a new stake in Astrotech in the third quarter valued at $66,000. J. Safra Sarasin Holding AG acquired a new stake in Astrotech in the 1st quarter valued at about $140,000. Finally, DRW Securities LLC lifted its stake in Astrotech by 168.5% in the 4th quarter. DRW Securities LLC now owns 31,464 shares of the aerospace company’s stock valued at $109,000 after purchasing an additional 19,747 shares during the last quarter. 24.35% of the stock is owned by 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.