Astrotech Corporation (NASDAQ:ASTC) Short Interest Up 2,336.3% in May
by Tristan Rich · The Markets DailyAstrotech Corporation (NASDAQ:ASTC – Get Free Report) was the recipient of a large growth in short interest during the month of 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 stock are short sold. Based on an average daily trading volume, of 24,372,121 shares, the short-interest ratio is presently 0.0 days.
Institutional Investors Weigh In On Astrotech
Several institutional investors and hedge funds have recently modified their holdings of the stock. Susquehanna International Group LLP bought a new position in shares of Astrotech in the 3rd quarter worth about $66,000. DRW Securities LLC increased its stake in shares of Astrotech by 168.5% in the 4th 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 in the last quarter. Finally, J. Safra Sarasin Holding AG bought a new position in shares of Astrotech in the 1st quarter worth about $140,000. 24.35% of the stock is owned by hedge funds and other institutional investors.
Astrotech Stock Down 12.2%
Shares of ASTC opened at $25.58 on Wednesday. The stock has a market capitalization of $46.04 million, a P/E ratio of -3.04 and a beta of 4.60. The firm has a fifty day simple moving average of $9.38 and a two-hundred day simple moving average of $5.36. Astrotech has a twelve month low of $1.91 and a twelve month high of $68.85.
Astrotech (NASDAQ:ASTC – Get Free Report) last announced its quarterly earnings results 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.
Wall Street Analyst Weigh In
Separately, Weiss Ratings raised shares of Astrotech from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 27th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.
View Our Latest Stock Report on Astrotech
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.