Astrotech Corporation (NASDAQ:ASTC) Short Interest Down 43.9% in July

Astrotech Corporation (NASDAQ:ASTC) was the target of a large decrease in short interest during the month of July. As of July 31st, there was short interest totaling 50,402 shares, a decrease of 43.9% from the July 15th total of 89,847 shares. Based on an average trading volume of 66,071 shares, the days-to-cover ratio is currently 0.8 days. Approximately 3.4% of the company’s stock are sold short.

Hedge Funds Weigh In On Astrotech

Several hedge funds and other institutional investors have recently bought and sold shares of ASTC. BlackRock Inc. acquired a new position in shares of Astrotech during the 2nd quarter worth $220,000. DRW Securities LLC lifted its holdings 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 in the last quarter. Susquehanna International Group LLP purchased a new position in Astrotech in the 3rd quarter valued at about $66,000. SCS Capital Management LLC acquired a new stake in shares of Astrotech during the 2nd quarter worth about $120,000. Finally, J. Safra Sarasin Holding AG acquired a new stake in Astrotech during the first quarter worth approximately $140,000. 24.35% of the stock is owned by institutional investors and hedge funds.

Astrotech Stock Down 1.1%

NASDAQ:ASTC traded down $0.10 during trading hours on Monday, reaching $8.31. 37,616 shares of the company’s stock were exchanged, compared to its average volume of 2,548,571. The firm has a market capitalization of $14.97 million, a price-to-earnings ratio of -0.99 and a beta of 4.87. The company has a 50-day moving average of $11.04 and a 200 day moving average of $7.65. Astrotech has a 1-year low of $1.91 and a 1-year high of $68.85.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ASTC shares. Wall Street Zen upgraded Astrotech from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 1st. Weiss Ratings upgraded shares of Astrotech from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 27th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Astrotech presently has an average rating of “Sell”.

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.