Astrotech (NASDAQ:ASTC) Downgraded by Wall Street Zen to Strong Sell

Wall Street Zen cut shares of Astrotech (NASDAQ:ASTC) from a sell rating to a strong sell rating in a research report sent to investors on Saturday morning.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Astrotech in a report on Monday, August 24th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of “Sell”.

Astrotech Stock Performance

ASTC opened at $7.15 on Friday. The stock has a market capitalization of $15.09 million, a price-to-earnings ratio of -0.85 and a beta of 4.86. The company has a fifty day moving average of $8.56 and a 200 day moving average of $7.92. Astrotech has a fifty-two week low of $1.91 and a fifty-two week high of $68.85.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ASTC. BlackRock Inc. purchased a new position in shares of Astrotech in the second quarter valued at $220,000. DRW Securities LLC raised its stake in Astrotech by 168.5% during the fourth 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 stake in Astrotech during the third quarter valued at $66,000. SCS Capital Management LLC bought a new position in Astrotech during the second quarter valued at $120,000. Finally, J. Safra Sarasin Holding AG bought a new position in Astrotech during the first quarter valued at $140,000. 24.35% of the stock is currently 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.