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

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

Institutional Investors Weigh In On Astrotech

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. SCS Capital Management LLC purchased a new stake in shares of Astrotech during the 2nd quarter worth about $120,000. Susquehanna International Group LLP acquired a new stake in Astrotech during the 3rd quarter worth approximately $66,000. DRW Securities LLC raised its holdings in Astrotech by 168.5% in the fourth quarter. DRW Securities LLC now owns 31,464 shares of the aerospace company’s stock valued at $109,000 after buying an additional 19,747 shares during the period. BlackRock Inc. acquired a new position in Astrotech during the second quarter valued at approximately $220,000. Finally, J. Safra Sarasin Holding AG acquired a new position in Astrotech during the first quarter valued at approximately $140,000. 24.35% of the stock is currently owned by institutional investors and hedge funds.

Astrotech Stock Down 1.1%

Shares of ASTC stock traded down $0.10 on Monday, reaching $8.31. 37,616 shares of the stock were exchanged, compared to its average volume of 2,548,571. The stock has a market cap of $14.97 million, a P/E ratio of -0.99 and a beta of 4.87. The firm has a 50 day moving average of $11.04 and a two-hundred day moving average of $7.65. Astrotech has a 1-year low of $1.91 and a 1-year high of $68.85.

Analyst Upgrades and Downgrades

Several research firms recently commented on ASTC. 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 Astrotech from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 27th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of “Sell”.

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.