Astronics Co. (NASDAQ:ATRO) Sees Significant Growth in Short Interest

by · The Markets Daily

Astronics Co. (NASDAQ:ATRO – Get Free Report) was the recipient of a significant increase in short interest during the month of November. As of November 30th, there was short interest totalling 1,400,000 shares, an increase of 291.8% from the November 15th total of 357,300 shares. Based on an average daily volume of 270,200 shares, the days-to-cover ratio is presently 5.2 days.

Analyst Upgrades and Downgrades

Separately, Truist Financial dropped their target price on Astronics from $22.00 to $20.00 and set a “hold” rating on the stock in a report on Friday, October 18th.

Read Our Latest Stock Report on ATRO

Institutional Investors Weigh In On Astronics

A number of institutional investors have recently added to or reduced their stakes in ATRO. State Street Corp lifted its position in shares of Astronics by 6.7% during the 3rd quarter. State Street Corp now owns 924,070 shares of the aerospace company’s stock worth $18,001,000 after buying an additional 58,356 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in Astronics during the third quarter worth $964,000. Algert Global LLC lifted its holdings in Astronics by 367.2% during the third quarter. Algert Global LLC now owns 56,072 shares of the aerospace company’s stock worth $1,092,000 after acquiring an additional 44,070 shares during the period. Cubist Systematic Strategies LLC purchased a new position in Astronics in the second quarter worth $857,000. Finally, Dimensional Fund Advisors LP grew its stake in Astronics by 4.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 888,942 shares of the aerospace company’s stock valued at $17,806,000 after purchasing an additional 40,438 shares during the period. 56.68% of the stock is owned by institutional investors.

Astronics Stock Performance

NASDAQ ATRO opened at $16.31 on Thursday. The company has a fifty day moving average price of $17.93 and a 200-day moving average price of $19.38. The firm has a market cap of $575.12 million, a price-to-earnings ratio of -85.84 and a beta of 1.79. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.83 and a quick ratio of 1.46. Astronics has a 1 year low of $14.13 and a 1 year high of $23.74.

Astronics Company Profile

(Get Free Report)

Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, and electronics industries in the United States, rest of North America, Asia, Europe, South America, and internationally. The company operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems, electrical power generation systems, distribution and seat motions systems, aircraft structures, avionics products, system certification, and other products.

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